Waterfront Mixed-Use
For Sale
$4,000,000
100 Marina Drive, New Bern, NC 28560
COMMERCIAL - New Bern, NC
Property Size12,500 SF
Lot Size0.68 Acres
Price / SF$320
Days on Market139
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
Marina, Water, 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
(252) 349-6128
Listed By:
SARAH Michelle Palmer · License #297013
(252) 349-6128
Added: Apr 3
Changed: Aug 19
Last Checked: Aug 19 at 10:06PM
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.
Located at 100 Marina Drive in New Bern, this waterfront mixed-use property includes a 12,500-square-foot commercial building constructed in 1987. The property has historically accommodated restaurant, bar, retail, office, and residential components, providing a varied existing framework for future operation or repositioning. Electric heating and public water serve the building, while off-street parking is available.
The property is positioned within Fairfield Harbour near marina activity, boating traffic, and waterfront recreation. The offering includes approximately 75 dedicated parking spaces with 50% ownership adjoining the commercial building and marina area. The site carries commercial zoning and is not governed by the Fairfield Harbour HOA.
The property is positioned within Fairfield Harbour near marina activity, boating traffic, and waterfront recreation. The offering includes approximately 75 dedicated parking spaces with 50% ownership adjoining the commercial building and marina area. The site carries commercial zoning and is not governed by the Fairfield Harbour HOA.
Key Highlights
- Waterfront mixed‑use property at 100 Marina Drive, New Bern, NC 28560
- 12,500 square feet; building constructed in 1987
- Historically supported 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
$161,663
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
4.04%
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%
$3,233,260
$3.2M
Cap Rate 7%
$2,309,471
$2.3M
Cap Rate 9%
$1,796,256
$1.8M
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
$225.0K $18.00/SF
− Vacancy
−$9.5K −$0.76/SF
EGI
$215.6K $17.24/SF
− OpEx
−$53.9K −$4.31/SF
NOI
$161.7K $12.93/SF
Area
Craven County, NC
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,233,260
Cap Rate 7%
$2,309,471
Cap Rate 9%
$1,796,256
Alternative Uses
Best Use
Specialty Retail
$2.31M
$2.02M – $2.69M
NOI $161,663 @ 7.0% cap · market cap 4.04%
Second Best
Mixed Use
$1.81M
$1.58M – $2.11M
NOI $126,563 @ 7.0% cap · market cap 3.16%
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
Property Profile
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
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?
Mixed-use property - Commercial building with restaurant, retail, office, and residential components beside marina activity in Fairfield Harbour.
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 mixed‑use property at 100 Marina Drive, New Bern, NC 28560; 12,500 square feet; building constructed in 1987; Historically supported restaurant, bar, retail, office, and residential components
