Redevelopment Retail
1475 W Market Street Smithfield, NC 27577
1475 W Market Street, Smithfield, NC, 27577
$525,000
For Sale
$525,000
COMMERCIAL - Smithfield, NC
Property Size1,900 SF
Lot Size0.62 Acres
Price / SF$276.32
Days on Market146
Property Features for 1475 W Market Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Exterior features
- Courtyard, Fire Pit, Outdoor Kitchen
- Standard status
- Active
- Size
- 1,900 SF
- Lot size
- 0.62 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- PIN 15077028E
- Tax Annual Amount
- 2227
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1976
- Building materials
- Brick Veneer, Wood Siding
- Additional Structures
- Outdoor Kitchen
Listing agency
HTR Southern Properties
(919) 879-8770
Listed by
Tracy L Riba · License #221530
(919) 637-0004
Added: Feb 25 Updated: Jun 17 at 3:30PM Checked: Jul 21 at 8:06AM
MLS# 10149418
Copyright © 2026 Doorify 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.
The property is an as-is retail storefront formerly used as a cafe, offering approximately 1,900 square feet of building space on a 0.62-acre lot. The site includes extensive parking and outdoor entertainment areas with an open patio featuring a firepit and a separate enclosed patio with a second firepit. A 20' utility easement runs on the property.
The address is 1475 W Market Street in Smithfield, North Carolina, in Johnston County. The seller notes strong visibility along the corridor, with over 13,500 cars passing daily, and proximity to major employers and destinations including Johnston Regional Airport (JNX), a new Amazon distribution plant, and Johnston Health Hospital.
This property is suited for buyers looking to customize a storefront for a new retail or restaurant concept, with outdoor patio space already in place to support tenant programming. The extensive parking can accommodate customer traffic and site use, while the existing building and patios provide a workable base for redevelopment. Financing terms are available through the seller.
The address is 1475 W Market Street in Smithfield, North Carolina, in Johnston County. The seller notes strong visibility along the corridor, with over 13,500 cars passing daily, and proximity to major employers and destinations including Johnston Regional Airport (JNX), a new Amazon distribution plant, and Johnston Health Hospital.
This property is suited for buyers looking to customize a storefront for a new retail or restaurant concept, with outdoor patio space already in place to support tenant programming. The extensive parking can accommodate customer traffic and site use, while the existing building and patios provide a workable base for redevelopment. Financing terms are available through the seller.
Key Highlights
- Approximately 1,900 SF commercial building on a 0.617‑acre lot
- Extensive parking plus 2 outdoor entertainment areas: open patio with fire pit and enclosed patio with second fire pit
- Outdoor kitchen and courtyard features
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.0k | $18.96 |
| − Vacancy | −$2.7k | −$1.42 |
| EGI | $33.3k | $17.54 |
| − OpEx | −$10.0k | −$5.26 |
| NOI | $23.3k | $12.28 |
1,900 SF · lease $18.96/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$333.2K
$291.6K – $388.8K
NOI $23,326 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$574.8K
$503.0K – $670.6K
NOI $40,236 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
CashPoints® ATM
Atm
Heidi's Two Wheel ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - As-is retail storefront on an oversized lot with extensive parking and two patio areas for flexible concepts.
Where is this storefront property located?
The property is located at 1475 W Market Street Smithfield, NC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Approximately 1,900 SF commercial building on a 0.617‑acre lot; Extensive parking plus 2 outdoor entertainment areas: open patio with fire pit and enclosed patio with second fire pit; Outdoor kitchen and courtyard features
