Building Details

Building Size 1,203 SF

Year Built 1952

Listing Agency: Chesson Realty

Listed By: Chris Lewis · License #349131 Show Phone

Source: Dustinbennett

Added: Oct 16 Changed: Oct 21 Last Checked: Oct 21 at 2:21AM

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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 Chesson Realty

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Investment Insights

Based on property information with market context.

The restaurant property includes the building and a commercial kitchen equipped with a flat top, hood system, grease traps, freezers, and smallwares. The dining area has six four-top tables with seating for 24. Built in 1952, the property is located at 103 S Parker Street in Elm City, North Carolina.

Key Highlights

• Commercial kitchen includes a flat top, hood system, and grease traps
• Freezers and smallwares are included
• Dining area seats 24 at six four‑top tables

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,941

Cap Rate

7.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$298,820 $298.8K

Cap Rate 7%

$213,443 $213.4K

Cap Rate 9%

$166,011 $166.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,203 SF

Gross rent

$21.7K $18.00/SF

− Vacancy

−$1.7K −$1.44/SF

EGI

$19.9K $16.56/SF

− OpEx

−$5.0K −$4.14/SF

NOI

$14.9K $12.42/SF

Area

Wilson County, NC

Vacancy

8.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$298,820

Cap Rate 7%

$213,443

Cap Rate 9%

$166,011

Alternative Uses

Best Use

Specialty Retail

$213.4K

$186.8K – $249.0K (±1% cap)

NOI $14,941 @ 7.0% cap · market cap 7.47%

Second Best

Industrial

$94.8K

$82.9K – $110.6K (±1% cap)

NOI $6,635 @ 7.0% cap · market cap 3.32%

Theoretical Best

Office A

$288.7K

$252.7K – $336.9K (±1% cap)

NOI $20,212 @ 7.0% cap · market cap 10.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

OH My Lard Restaurant

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Parts Store Electrical Service Furniture & Home Goods Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Commercial hood

Yes

Grease trap

Location Intelligence

Trade Area within ½ mile

114

Businesses Nearby

10k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 58% Shops & Services 42%

Piggly Wiggly Groceries

5,652 visits/mo 0.3 miles

Dollar General Shops & Services

4,077 visits/mo 0.4 miles

Demographics for 27822, NC

8,351

Population

3,535

Households

2.4

Avg Household Size

44

Median Age

22%

College-Educated

89%

High-School Grad

87.6 sq mi

ZIP Area

95

Density / Sq Mi

$61,189

Median Household Income

$46,567

Median Earnings

$854

Median Rent

$157,800

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - The dining area accommodates 24 guests across six four-top tables.

Where is this conventional restaurant located?

The property is located at 103 S Parker Street Elm City, NC.

What is the asking price?

The asking price for this property is $199,900.

What are key features of this property?

This property features: Commercial kitchen includes a flat top, hood system, and grease traps; Freezers and smallwares are included; Dining area seats 24 at six four‑top tables