Event Venue with Commercial
26 Commerce Drive Pembroke, NC 28372
For Sale
$4,500,000
Pending
COMMERCIAL - Pembroke, NC
Property Size12,410 SF
Lot Size2.24 Acres
Days on Market372
Property Features for 26 Commerce Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C-30
- Rooms
- Dining Room
- Parking
- 100
- Security features
- Security
- Vegetation
- Partially Wooded, Cleared
- Interior features
- Bar, Beamed Ceilings, Built-in Features, Butler's Pantry, Cathedral Ceiling(s), Ceiling Fan(s), Chandelier, Crown Molding, Dining L, Dressing Room, Eat-in Kitchen, High Ceilings, Kitchen/Dining Room Combination, Pantry, Recessed Lighting, Smooth Ceilings, Sound System, Storage, Wet Bar, Wired for Sound
- Exterior features
- Courtyard, Garden, Lighting, Misting System, Private Yard, Rain Gutters, Smart Camera(s)/Recording, Storage, Uncovered Courtyard
- Appliances
- Bar Fridge, Built-In Gas Oven, Built-In Gas Range, Built-In Range, Built-In Refrigerator, Convection Oven, Cooktop, Dishwasher, Double Oven, Exhaust Fan, Free-Standing Freezer, Freezer, Gas Range, Ice Maker, Microwave, Range Hood, Self Cleaning Oven, Stainless Steel Appliance(s), Wine Cooler
- Standard status
- Pending
- Size
- 12,410 SF
- Lot size
- 2.24 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- DIST:14 CITY/MUNI/TWP:PEMBROKE SW/S HWY 711
- Tax Annual Amount
- 9256
Utilities
- Utilities
- Propane
- Sewer type
- Septic Tank
- Heating system
- Exhaust Fan (Heating), Forced Air
- Water source
- Well, Public
Building Details
- Year built
- 2008
- Flooring type
- Varies, Concrete, Hardwood
- Building materials
- Concrete, Glass, Steel Siding, Stone
- Additional Structures
- Storage
Listing Agency:
United Real Estate Triangle
(919) 573-8322
Listed By:
Natalie Pearse
(919) 839-3131
Added: Jul 18, 2025
Changed: Jul 17
Last Checked: Jul 24 at 4:06PM
MLS# 10110283
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.
A steel-framed event venue originally built as a fine dining restaurant and later converted into an event-focused space. The property includes two full commercial kitchens, a bar, a private electrical room for maintenance, double insulation, and a water-based passive cooling system. Additional standout features include a custom indoor waterfall, a reinforced flood-resistant foundation, and a solar-ready roof. The building is 12,410 square feet, sitting on 2.24 acres, and is listed under zoning C-30.
Located at 26 Commerce Drive in Pembroke, North Carolina, the venue is positioned about 10 minutes from I-95 and roughly 5 minutes from UNC Pembroke, with Fort Liberty less than an hour away. The property is described as operating with 30+ weddings annually from referrals, with no paid marketing.
The existing infrastructure is presented as accommodating future expansion, consistent with the original design approach for durability, efficiency, and growth.
Located at 26 Commerce Drive in Pembroke, North Carolina, the venue is positioned about 10 minutes from I-95 and roughly 5 minutes from UNC Pembroke, with Fort Liberty less than an hour away. The property is described as operating with 30+ weddings annually from referrals, with no paid marketing.
The existing infrastructure is presented as accommodating future expansion, consistent with the original design approach for durability, efficiency, and growth.
Key Highlights
- Fine dining/event venue at 26 Commerce Plaza Drive in Pembroke, NC, built in 2008
- 12,410 SF steel‑framed building on 2.24 acres, with concrete and steel siding construction and stone elements
- Two full commercial kitchens plus a bar, including built‑in gas oven/range, cooktop, double oven, dishwasher, and ice maker
Financial Insights For Specialty 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 | $268.1k | $21.60 |
| − Vacancy | −$7.0k | −$0.56 |
| EGI | $261.1k | $21.04 |
| − OpEx | −$65.3k | −$5.26 |
| NOI | $195.8k | $15.78 |
12,410 SF · lease $21.60/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.80M
$2.45M – $3.26M
NOI $195,815 @ 7.0% cap · market cap 4.35%
Second Best
Industrial
$2.78M
$2.43M – $3.24M
NOI $194,311 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,463 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Wedding venues
FAQs
What type of property is this?
Wedding venue - Steel-framed event venue with two full commercial kitchens, a bar, and an indoor waterfall on 2.24 acres.
Where is this wedding venue located?
The property is located at 26 Commerce Drive Pembroke, NC.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Fine dining/event venue at 26 Commerce Plaza Drive in Pembroke, NC, built in 2008; 12,410 SF steel‑framed building on 2.24 acres, with concrete and steel siding construction and stone elements; Two full commercial kitchens plus a bar, including built‑in gas oven/range, cooktop, double oven, dishwasher, and ice maker
