Drive-Through Restaurant
For Sale
$1,090,000
714 Broad Street, New Bern, NC 28562
Commercial Sale, New Bern, NC
Property Size3,322 SF
Lot Size0.96 Acres
Price / SF$328.12
Days on Market95
Property Features for 714 Broad Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
50
Subdivision
Not In Subdivision
Directions
BROAD STREET : DOWNTOWN NEW BERN
Standard status
Active
APN
8-008-119
Size
3,322 SF
Lot size
0.96 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
708-716 BROAD STREET
Tax Annual Amount
2511
Legal Description
708-716 BROAD STREET
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1979
Building materials
Block
Listing Agency:
CENTURY 21 ZAYTOUN RAINES · Century 21 Real Estate
(252) 633-3069
Listed By:
Melinda Jane Bianchi · License #302826
(908) 482-1395
Added: Jun 30
Changed: Aug 19
Last Checked: Oct 2 at 8:06AM
MLS# 100585594
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.
This 3322-square-foot restaurant property occupies a .96-acre commercial parcel on Broad Street in New Bern. The building was constructed in 1979 with block exterior construction, electric heating, and an existing drive-through. The property also provides parking and has previously operated as both a Hardee's and Jim Bob's Restaurant.
The site is positioned near county offices, restaurants, the waterfront, and Union Park, with walkable access to those destinations. Its location on Broad Street places the building within an established commercial setting and supports continued restaurant use or other retail-oriented occupancy, subject to applicable approvals.
The site is positioned near county offices, restaurants, the waterfront, and Union Park, with walkable access to those destinations. Its location on Broad Street places the building within an established commercial setting and supports continued restaurant use or other retail-oriented occupancy, subject to applicable approvals.
Key Highlights
- 3322 square feet of building area on a .96‑acre parcel
- Existing drive‑through supports restaurant operations
- Commercial zoning in New Bern, NC
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
$65,635
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
6.02%
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%
$1,312,700
$1.3M
Cap Rate 7%
$937,643
$937.6K
Cap Rate 9%
$729,278
$729.3K
Market Conditions
NOI Build-Up for 3,322 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
$100.1K $30.12/SF
− Vacancy
−$6.3K −$1.89/SF
EGI
$93.8K $28.23/SF
− OpEx
−$28.1K −$8.47/SF
NOI
$65.6K $19.76/SF
Area
Craven County, NC
Vacancy
6.29%
Lease Rate
$30.12 /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%
$1,312,700
Cap Rate 7%
$937,643
Cap Rate 9%
$729,278
Alternative Uses
Best Use
Retail
$937.6K
$820.4K – $1.09M
NOI $65,635 @ 7.0% cap · market cap 6.02%
Second Best
Specialty Retail
$613.8K
$537.0K – $716.1K
NOI $42,963 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$1.10M
$958.4K – $1.28M
NOI $76,668 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 28562, NC
39,375
Population
18,812
Households
2.1
Avg Household Size
45
Median Age
33%
College-Educated
93%
High-School Grad
151.7 sq mi
ZIP Area
260
Density / Sq Mi
$74,620
Median Household Income
$40,215
Median Earnings
$1,131
Median Rent
$246,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Block construction with electric heat, parking, and a commercial parcel near downtown New Bern destinations.
Where is this drive through restaurant located?
The property is located at 714 Broad Street New Bern, NC.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: 3322 square feet of building area on a .96‑acre parcel; Existing drive‑through supports restaurant operations; Commercial zoning in New Bern, NC
