Mixed-Use Property With Upstairs
For Sale
$1,100,000
109 S Raiford Street, Selma, NC 27576
COMMERCIAL - Selma, NC
Property Size4,769 SF
Lot Size0.08 Acres
Price / SF$230.66
Days on Market112
Property Features for 109 S Raiford Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
1
Appliances
Cooktop, Dishwasher, Wall Oven
Standard status
Active
APN
14028056
Size
4,769 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Raeford St M28l56
Tax Annual Amount
1991
Legal Description
Raeford St M28l56
Amenities
quartz countertops
large statement island
walk-in pantry
butler's pantry
spa-like ensuite bathroom
walk-in shower
soaking tub
dedicated office
laundry room
Building Details
Year built
1910
Floors in Building
2
Building materials
Brick
Listing Agency:
Real Broker, LLC
(919) 348-2585
Listed By:
Adele Walker
(919) 763-6771
Added: May 1
Changed: Aug 18
Last Checked: Aug 20 at 10:06AM
MLS# 10186837
Copyright © 2026 Doorify 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 4,769-square-foot mixed-use property at 109 S Raiford Street includes an upstairs residential component with two bedrooms, 2.5 bathrooms, a dedicated office, laundry room, and two pantry areas. The kitchen is equipped with quartz countertops, a large island, cooktop, dishwasher, and wall oven. A primary suite includes a walk-in closet and ensuite bathroom with a walk-in shower and standalone soaking tub.
The building combines residential living space with a commercial component in downtown Selma. Brick construction and a substantial interior renovation completed in 2023 contribute to the property’s current configuration. The address is in Johnston County, within postal code 27576.
The building combines residential living space with a commercial component in downtown Selma. Brick construction and a substantial interior renovation completed in 2023 contribute to the property’s current configuration. The address is in Johnston County, within postal code 27576.
Key Highlights
- 4,769‑square‑foot mixed‑use property at 109 S Raiford Street
- Upstairs living area includes 2 bedrooms and 2.5 bathrooms
- Dedicated office, laundry room, walk‑in pantry, and butler's pantry
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
$49,359
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
4.49%
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%
$987,180
$987.2K
Cap Rate 7%
$705,129
$705.1K
Cap Rate 9%
$548,433
$548.4K
Market Conditions
NOI Build-Up for 4,769 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
$85.8K $18.00/SF
− Vacancy
−$6.9K −$1.44/SF
EGI
$79.0K $16.56/SF
− OpEx
−$29.6K −$6.21/SF
NOI
$49.4K $10.35/SF
Area
Johnston County, NC
Vacancy
8.00%
Lease Rate
$18.00 /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%
$987,180
Cap Rate 7%
$705,129
Cap Rate 9%
$548,433
Alternative Uses
Best Use
Mixed Use
$705.1K
$617.0K – $822.7K
NOI $49,359 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,991 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Explore this area
Business Placement
Demographics for 27576, NC
17,568
Population
7,911
Households
2.2
Avg Household Size
37
Median Age
18%
College-Educated
84%
High-School Grad
81.3 sq mi
ZIP Area
216
Density / Sq Mi
$62,044
Median Household Income
$39,262
Median Earnings
$874
Median Rent
$178,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated interior includes two bedrooms, office, pantry spaces, and a substantial kitchen with quartz countertops.
Where is this mixed-use property located?
The property is located at 109 S Raiford Street Selma, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,769‑square‑foot mixed‑use property at 109 S Raiford Street; Upstairs living area includes 2 bedrooms and 2.5 bathrooms; Dedicated office, laundry room, walk‑in pantry, and butler's pantry
