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    205 W 3Rd St Pembroke, NC 28372

    Sponsored
    For Sale
    $1,650,000

    SINGLE_FAMILY - Pembroke, NC

    Type:Retail
    Property size:
    29,046 SF
    Lot size:
    1.95 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 3 at 7:06 am

    Property Features for 205 W 3Rd St

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Standard status
    Active
    APN
    350502036
    Parking features
    Parking Lot, Off Street
    Size
    29,046 SF
    Lot size
    1.95 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Water source
    Public

    Building Details

    Year built
    1972
    Building materials
    BrickVeneer, Block
    Roof type
    Membrane

    We can help!

    Listing Contact
    AMY BARKER

    BARKER AND ASSOCIATES/BARKER REAL ESTATE CO. (910) 373-1508

    Listing agent AMY BARKER (910) 373-1508 License #188285

    Listing date Mar 2, 2026

    MLS# 758077

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

    Learn more

    Property Insight Report

    Overview

    Commercial Building in Downtown Pembroke

    This three-unit commercial building, totaling approximately 29,046 square feet, is located in the 'downtown' central business district of Pembroke, North Carolina. The retail section was built in 1972, and the pharmacy/medical unit was built in 1978. The medical/pharmacy unit contains approximately 4,390 square feet, the center retail unit contains approximately 12,765 square feet, and the end office/retail unit contains approximately 11,892 square feet. The building features a slab foundation. The roof on the medical/pharmacy unit was replaced in 2022, and the remainder of the building's roof was recently replaced with GAF Everguard material. The property includes a large paved parking area that was sealed and striped in 2024. The property has good frontage along Third Street (Hwy 711), Pine Street, 4th Street, and Vance Street. Situated on a 1.95-acre lot, the property is within walking distance of UNC-P and close to several commercial properties. Area improvements include well-lighted streets and sidewalks. The property is part of the Pembroke Revitalization project, an $8.5 million initiative to reconstruct and beautify downtown Pembroke, which will upgrade storm-drainage systems, water and sewer lines, street lighting, and sidewalks. New traffic signals are planned for the corner of Third and Vance as part of NCDOT TIP Project HL-0009.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Coastal Southeastern Family ... Physician Pembroke Town Clerk City Government Office Pembroke Drug Pharmacy Katara Chavis Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Building Supply Nail Salon Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Coinstar Kiosk - Bitcoin ATM, Coinstar Bitcoin ATM, Coinstar Kiosk | Bitcoin ATM

    Location Insight

    • Map
    • Local Demand
    City
    Pembroke
    County
    Robeson
    State
    North Carolina
    Longitude
    -79.1955
    Latitude
    34.6803

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    FAQs

    What type of property is this?
    Shopping center - Three-unit commercial building in Pembroke's central business district.
    Where is this shopping center located?
    The property is located at 205 W 3Rd St Pembroke, NC.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: - Located in the 'downtown' central business district of Pembroke, NC, with good frontage on multiple streets.; - Benefits from the Pembroke Revitalization project, including upgrades to infrastructure and beautification.; - Large paved parking lot, recently sealed and striped in 2024.
    (910) 373-1508
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    205 W 3Rd St Pembroke, NC 28372
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    Pembroke, NC 28372
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    205 W 3Rd St Pembroke, NC 28372
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    We can help!
    Listing Contact
    AMY BARKER
    Real Estate License ID: 188285
    (910) 373-1508 (910) 739-1100
    Learn more
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