Waterfront Mixed-Use
For Sale
$4,000,000
100 Marina Drive, New Bern, NC 28560
Commercial Sale, New Bern, NC
Property Size12,500 SF
Lot Size0.68 Acres
Price / SF$320
Days on Market177
Property Features for 100 Marina Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Parking features
Off Street
Subdivision
Fairfield Harbour
Lot features
Harbor, Sailboat Accessible, Water Depth 4+
View
Water, Marina, River
Directions
Broad Crk Rd (in Fairfield Harbour) turn right onto Marina Dr, property at end of road on waterfront.
Standard status
Active
APN
2-029 -1000
Size
12,500 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TRACT A NORTHWEST CREEK MARINA & RESTAURANT COMPLEX
Tax Annual Amount
2033
Legal Description
TRACT A NORTHWEST CREEK MARINA & RESTAURANT COMPLEX
Utilities
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1987
Listing Agency:
IBX Coastal Living
Listed By:
SARAH Michelle Palmer · License #297013
(252) 349-6128
Added: Apr 3
Changed: Sep 12
Last Checked: Sep 26 at 12:06AM
MLS# 100564935
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 waterfront commercial property at 100 Marina Drive includes a building that has historically accommodated restaurant, bar, retail, office, and residential components. The improvements were built in 1987 and include electric heating, public water service, and off-street parking. Approximately 75 dedicated parking spaces are included through 50% ownership, adjoining the building and marina area.
The property is within the Fairfield Harbour community and is not governed by its HOA. The surrounding community includes more than 3,000 residents, with full-time homeowners, condominium residents, privately owned timeshares, and short-term rental activity. Marina operations, boating traffic, waterfront recreation, and tourism are part of the surrounding context. The site is in New Bern, North Carolina, within Craven County.
The property is within the Fairfield Harbour community and is not governed by its HOA. The surrounding community includes more than 3,000 residents, with full-time homeowners, condominium residents, privately owned timeshares, and short-term rental activity. Marina operations, boating traffic, waterfront recreation, and tourism are part of the surrounding context. The site is in New Bern, North Carolina, within Craven County.
Key Highlights
- Waterfront commercial property at 100 Marina Drive, New Bern, NC 28560
- Approximately 75 dedicated parking spaces with 50% ownership
- Building constructed in 1987
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
$246,973
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
6.17%
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%
$4,939,460
$4.9M
Cap Rate 7%
$3,528,186
$3.5M
Cap Rate 9%
$2,744,144
$2.7M
Market Conditions
NOI Build-Up for 12,500 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
$376.5K $30.12/SF
− Vacancy
−$23.7K −$1.89/SF
EGI
$352.8K $28.23/SF
− OpEx
−$105.8K −$8.47/SF
NOI
$247.0K $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%
$4,939,460
Cap Rate 7%
$3,528,186
Cap Rate 9%
$2,744,144
Alternative Uses
Best Use
Retail
$3.53M
$3.09M – $4.12M
NOI $246,973 @ 7.0% cap · market cap 6.17%
Second Best
Specialty Retail
$2.31M
$2.02M – $2.69M
NOI $161,663 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$4.12M
$3.61M – $4.81M
NOI $288,485 @ 7.0% cap · market cap 7.21%
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
56
Businesses Nearby
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
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial building with prior restaurant, bar, retail, office, and residential components near marina activity and waterfront recreation.
Where is this mixed-use property located?
The property is located at 100 Marina Drive 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: Waterfront commercial property at 100 Marina Drive, New Bern, NC 28560; Approximately 75 dedicated parking spaces with 50% ownership; Building constructed in 1987
