Building Details

Year built 1990

Flooring type Vinyl

Building materials Block

Roof type Composition

Listing Agency: RE/MAX Ocean Properties · RE/MAX International m***@remax.net Show Phone

Listed By: Mark Mansfield · License #211511 Show Phone

Added: Jan 8 Changed: Aug 19 Last Checked: Aug 21 at 12:06PM

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MLS# 100548152

Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

Business-only convenience store sale at 1320 NC-58 in Salter Path, with the buyer responsible for negotiating a new commercial lease with the landlord. The operation includes fixtures, equipment, and current inventory, along with fuel service, quick groceries, beach supplies, and fishing licenses. The facility has block construction, vinyl flooring, a composition roof, electric and heat-pump heating, heat-pump cooling, public water, and septic service.

Operating for more than 20 years, the store serves the Bogue Banks community from NC Highway 58, the main route connecting Emerald Isle and Atlantic Beach. The property is zoned B-1 and includes water availability. The sale offers an incoming operator an existing convenience-store format with its equipment and inventory in place.

Key Highlights

• Business‑only sale with a new commercial lease to be negotiated with the landlord
• Operating for 20+ years at 1320 NC‑58, Salter Path, NC 28575
• Includes all fixtures, equipment, and current inventory

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$18,850

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

6.50%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$377,000 $377.0K

Cap Rate 7%

$269,286 $269.3K

Cap Rate 9%

$209,444 $209.4K

Market Conditions

NOI Build-Up for 3,200 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$28.8K $9.00/SF

− Vacancy

−$1.9K −$0.59/SF

EGI

$26.9K $8.42/SF

− OpEx

−$8.1K −$2.52/SF

NOI

$18.8K $5.89/SF

Area

Carteret County, NC

Vacancy

6.50%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$377,000

Cap Rate 7%

$269,286

Cap Rate 9%

$209,444

Alternative Uses

Best Use

Specialty Retail

$598.1K

$523.3K – $697.7K (±1% cap)

NOI $41,864 @ 7.0% cap · market cap 14.44%

Second Best

Retail

$529.9K

$463.7K – $618.2K (±1% cap)

NOI $37,094 @ 7.0% cap · market cap 12.79%

Theoretical Best

Office A

$960.0K

$840.0K – $1.12M (±1% cap)

NOI $67,200 @ 7.0% cap · market cap 23.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Grocery and convenience stores

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

92

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 28575, NC

164

Population

329

Households

0.5

Avg Household Size

58

Median Age

35%

College-Educated

88%

High-School Grad

0.2 sq mi

ZIP Area

820

Density / Sq Mi

$130,625

Median Household Income

$45,268

Median Earnings

$242,900

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Business-only sale with equipment, inventory, fuel service, and an established customer base on Bogue Banks.

Where is this grocery and convenience store located?

The property is located at 1320 Nc-58 Salter Path, NC.

What is the asking price?

The asking price for this property is $290,000.

What are key features of this property?

This property features: Business‑only sale with a new commercial lease to be negotiated with the landlord; Operating for 20+ years at 1320 NC‑58, Salter Path, NC 28575; Includes all fixtures, equipment, and current inventory