Building Details

Year built 1952

Building materials Block, Concrete

Listing Agency: Chesson Realty Show Phone

Listed By: Chris Lewis · License #349131 Show Phone

Added: Oct 16 Last Checked: Oct 20 at 3:06PM

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MLS# 100610726

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.

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Investment Insights

Based on property information with market context.

This 1,203-square-foot restaurant building includes a kitchen outfitted with a flat top, commercial hood system, grease traps, freezers, and smallwares. The dining area is arranged for 24 guests at six four-top tables. The property is commercially zoned and was built in 1952, with block and concrete construction and electric heating.

Located at 103 S Parker Street in Elm City, North Carolina, the site contains 0.09 acres.

Key Highlights

• 1,203‑square‑foot restaurant building
• Kitchen includes a flat top, commercial hood system, and grease traps
• Freezers and smallwares convey with the sale

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

—

—

no second resolved use

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 - Commercial zoning and installed kitchen equipment support restaurant use without a full equipment setup.

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: 1,203‑square‑foot restaurant building; Kitchen includes a flat top, commercial hood system, and grease traps; Freezers and smallwares convey with the sale