Waterfront Commercial Building with
For Sale
$4,000,000
100 Marina Dr, New Bern, NC 28560
Large waterfront building with dedicated parking spaces adjoining the commercial structure and marina area.
Property Size11,305 SF
Lot Size0.68 Acres
Price / SF$353.83
Days on Market47
Property Features for 100 Marina Dr
General Information
Standard status
Active
Size
11,305 SF
Total Parking Spaces
75
Lot size
0.68 Acres
Property subtype
Commercial
Zoning
commercial
Building Details
Year Built
1987
Listing Agency:
IBX Coastal Living
(843) 712-2721
Listed By:
SARAH Michelle Palmer () · License #297013
Source:
Beachandforestrealty
Added: Jul 9
Changed: Aug 23
Last Checked: Aug 22 at 4:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of IBX Coastal Living
Investment Insights
Based on property information with market context.
Positioned along the waterfront, this commercial building at 100 Marina Drive includes approximately 11,305 square feet on about 0.682 acres. The offering also includes approximately 75 dedicated parking spaces (50% ownership) directly adjoining both the commercial structure and the marina area.
Per the property remarks, the site has historically supported a mix of uses including restaurant, bar, retail, office, and residential components. The property is located within the Fairfield Harbour community, and the subject is stated to not be governed by the community HOA, allowing for greater operational flexibility; zoning restrictions are described as having no formal restrictions, with buyer to verify.
Overall, the property is configured as a large-scale waterfront commercial asset with on-site parking and a history of flexible uses, suitable for a range of hospitality and waterfront-oriented concepts or redevelopment plans consistent with the buyer’s verification of use and zoning.
Per the property remarks, the site has historically supported a mix of uses including restaurant, bar, retail, office, and residential components. The property is located within the Fairfield Harbour community, and the subject is stated to not be governed by the community HOA, allowing for greater operational flexibility; zoning restrictions are described as having no formal restrictions, with buyer to verify.
Overall, the property is configured as a large-scale waterfront commercial asset with on-site parking and a history of flexible uses, suitable for a range of hospitality and waterfront-oriented concepts or redevelopment plans consistent with the buyer’s verification of use and zoning.
Key Highlights
- 11,305 SF commercial building built in 1987 on approximately 0.682 acres in New Bern’s waterfront area
- Includes approximately 75 dedicated parking spaces (50% ownership) directly adjoining the commercial structure and marina area
- Historically supported a mix of uses including restaurant, bar, retail, office, and residential components
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
$223,362
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
5.58%
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%
$4,467,240
$4.5M
Cap Rate 7%
$3,190,886
$3.2M
Cap Rate 9%
$2,481,800
$2.5M
Market Conditions
NOI Build-Up for 11,305 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
$340.5K $30.12/SF
− Vacancy
−$21.4K −$1.89/SF
EGI
$319.1K $28.23/SF
− OpEx
−$95.7K −$8.47/SF
NOI
$223.4K $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%
$4,467,240
Cap Rate 7%
$3,190,886
Cap Rate 9%
$2,481,800
Alternative Uses
Best Use
Retail
$3.19M
$2.79M – $3.72M
NOI $223,362 @ 7.0% cap · market cap 5.58%
Second Best
Specialty Retail
$2.09M
$1.83M – $2.44M
NOI $146,208 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$3.73M
$3.26M – $4.35M
NOI $260,905 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28560, NC
28,005
Population
14,165
Households
2
Avg Household Size
46
Median Age
25%
College-Educated
92%
High-School Grad
122.6 sq mi
ZIP Area
228
Density / Sq Mi
$62,142
Median Household Income
$37,379
Median Earnings
$992
Median Rent
$191,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Large waterfront building with dedicated parking spaces adjoining the commercial structure and marina area.
Where is this conventional restaurant located?
The property is located at 100 Marina Dr New Bern, NC.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 11,305 SF commercial building built in 1987 on approximately 0.682 acres in New Bern’s waterfront area; Includes approximately 75 dedicated parking spaces (50% ownership) directly adjoining the commercial structure and marina area; Historically supported a mix of uses including restaurant, bar, retail, office, and residential components
