Historic Live-Work
For Sale
$219,900
Pending
1001 N Main St, Walnut Cove, NC 27052
Light office/retail zoning supports a combined residential and commercial presence in downtown Walnut Cove.
Property Size1,601 SF
Days on Market13
Property Features for 1001 N Main St
General Information
Standard status
Pending
Size
1,601 SF
Property subtype
Commercial
Building Details
Year Built
1916
Listing Agency:
Keller Williams Realty Elite
Listed By:
Teresa Blackburn · License #276519
(336) 618-0182
Source:
Searchhomesinnorthcarolina
Added: Aug 31
Changed: Sep 9
Last Checked: Sep 12 at 10:36AM
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 Keller Williams Realty Elite
Investment Insights
Based on property information with market context.
Built in 1916, this craftsman-style property combines a spacious residence with features suited to a live-work setting. The home includes built-in cabinetry, fireplaces, hardwood floors, a covered front porch, dining room, main-level primary bedroom, laundry room, garden space, and attic storage. The residence and detached improvements require renovation.
The property is located at 1001 N Main St in Walnut Cove’s Business Neighborhood district and carries light office/retail zoning. A fenced pasture area, small barn, and partially fenced acre-plus lot add outdoor utility. The two-car garage includes an apartment studio above, creating additional space within the existing improvements.
The property is located at 1001 N Main St in Walnut Cove’s Business Neighborhood district and carries light office/retail zoning. A fenced pasture area, small barn, and partially fenced acre-plus lot add outdoor utility. The two-car garage includes an apartment studio above, creating additional space within the existing improvements.
Key Highlights
- Live‑work property in Walnut Cove’s Business Neighborhood district
- Light office/retail zoning
- 1916 construction with craftsman‑style details
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
$18,371
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
8.35%
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%
$367,420
$367.4K
Cap Rate 7%
$262,443
$262.4K
Cap Rate 9%
$204,122
$204.1K
Market Conditions
NOI Build-Up for 1,601 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
$32.7K $20.40/SF
− Vacancy
−$3.3K −$2.04/SF
EGI
$29.4K $18.36/SF
− OpEx
−$11.0K −$6.89/SF
NOI
$18.4K $11.48/SF
Area
Stokes County, NC
Vacancy
10.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
37.50%
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%
$367,420
Cap Rate 7%
$262,443
Cap Rate 9%
$204,122
Alternative Uses
Best Use
Mixed Use
$262.4K
$229.6K – $306.2K
NOI $18,371 @ 7.0% cap · market cap 8.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$19.05M
$16.66M – $22.22M
NOI $1,333,187 @ 7.0% cap · market cap 606.27%
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
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 27052, NC
9,861
Population
4,447
Households
2.2
Avg Household Size
48
Median Age
16%
College-Educated
89%
High-School Grad
99.0 sq mi
ZIP Area
100
Density / Sq Mi
$57,913
Median Household Income
$39,953
Median Earnings
$737
Median Rent
$182,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - Light office/retail zoning supports a combined residential and commercial presence in downtown Walnut Cove.
Where is this live-work space located?
The property is located at 1001 N Main St Walnut Cove, NC.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Live‑work property in Walnut Cove’s Business Neighborhood district; Light office/retail zoning; 1916 construction with craftsman‑style details
