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    302 E 2ND Street Lumberton, NC 28358

    View on Map
    For Sale
    $369,000

    SINGLE_FAMILY - Lumberton, NC

    Type:Retail
    Property size:
    650 SF
    Added:
    Mar 3, 2026
    Days on Market:
    28
    Last Refresh:
    Mar 31 at 5:06 pm

    Property Features for 302 E 2ND Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking features
    Parking Lot, Oversize, Garage
    Security features
    Security
    Interior features
    HighSpeedInternet
    Standard status
    Active
    APN
    939185375700
    Size
    650 SF

    Taxes and HOA fees

    TaxDescription
    INTERSECTION OF WALNUT & E2NDST

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Building materials
    BrickVeneer
    Roof type
    Shingle

    We can help!

    Listing Contact
    GARRY EVANS

    Listing agent GARRY EVANS License #300979

    Listing office RE/MAX REAL ESTATE EXCHANGE 600-E FARRINGDOM STREET, LUMBERTON, NC

    Listing date Mar 3, 2026

    MLS# 758272

    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.

    Overview

    Lumberton Automotive Sales and Service

    This commercial property, situated in a central Lumberton location, has been used as an automotive sales and service location. The building offers 650 square feet of office space, including a reception area and two private offices. There is a half bath in the office area and another in the shop area. The office area is equipped with central heat and air. The main shop area spans 1800 square feet and includes four bays, each with a 10x10 rollup garage door on the front, plus an additional 10x10 rollup garage door on the rear of the shop. A 25x26 wash bay and storage area with a 7x7 foot rollup garage door is located between the shop and office area. The shop is heated by a natural gas furnace and includes two car lifts. The rear lot is fully fenced. The property is suitable for automotive sales and service, tire shops, and towing and repair shops.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Norton's Automart LLC Car Dealership

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • U-Haul Neighborhood Dealer — 1107 E 2nd St, Lumberton, NC 28358
    • U-Haul Neighborhood Dealer — 1209 E 5th St, Lumberton, NC 28358
    • Hoffman Auto Rental & Leasing — 1001 N Pine St, Lumberton, NC 28358

    Location Insight

    • Map
    • Local Demand
    City
    Lumberton
    County
    Robeson
    State
    North Carolina
    Longitude
    -79.005789
    Latitude
    34.617641

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    FAQs

    What type of property is this?
    Automotive property - Commercial property suitable for automotive sales and service.
    Where is this automotive property located?
    The property is located at 302 E 2ND Street Lumberton, NC.
    What is the asking price?
    The asking price for this property is $369,000.
    What are key features of this property?
    This property features: Prime commercial location ideal for automotive sales and service.; 1800 sq ft main shop featuring 4 bays and four 10x10 roll‑up garage doors.; Includes 650 sq ft of office space with reception and two private offices, plus two 1/2 baths.
    (910) 734-2989
    We can help!
    Listing Contact
    GARRY EVANS
    Real Estate License ID: 300979
    Learn More
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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
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