Mixed-Use Property With Commercial
For Sale
$995,000
1110 Hawkins Avenue, Sanford, NC 27330
Commercial Sale, Sanford, NC
Property Size6,000 SF
Lot Size10.50 Acres
Price / SF$165.83
Days on Market298
Property Features for 1110 Hawkins Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
L-I, C-2, R-12
Parking
20
Subdivision
Not in a Subdivision
Standard status
Active
Size
6,000 SF
Lot size
10.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
3 Parcels: #964375139500 (PT Martin, LLC), #964375176500 (PT Martin, LLC), #964365626300 (Peter Martin)
Tax Annual Amount
6772
Legal Description
3 Parcels: #964375139500 (PT Martin, LLC), #964375176500 (PT Martin, LLC), #964365626300 (Peter Martin)
Building Details
Year built
1984
Floors in Building
1
Building materials
Brick Veneer, Concrete
Listing Agency:
Harris Realty & Auction
(919) 742-3286
Listed By:
Scott Harris · License #159569
(919) 498-4077
Added: Dec 11, 2025
Changed: Aug 19
Last Checked: Oct 5 at 2:06AM
MLS# 10137042
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 mixed-use property combines three commercial buildings totaling 6,000 square feet with an updated early-1900s residence. The commercial improvements measure 4,000, 800, and 1,200 square feet, while the residence includes 2 bedrooms, 2 bathrooms, and approximately 1,437 square feet. Construction materials include brick veneer and concrete. The buildings were constructed between the mid-1980s and 1990s, and the residence was updated in the 1980s.
Located at 1110 Hawkins Avenue in Sanford, the property sits along a gateway into Historic Downtown Sanford. Full utility service includes water, sewer, and natural gas. Zoning designations listed for the property are L-I, C-2, and R-12. Approximately 3.7 acres lie within the flood zone. The property was previously used for a print shop and silk-screening business.
Located at 1110 Hawkins Avenue in Sanford, the property sits along a gateway into Historic Downtown Sanford. Full utility service includes water, sewer, and natural gas. Zoning designations listed for the property are L-I, C-2, and R-12. Approximately 3.7 acres lie within the flood zone. The property was previously used for a print shop and silk-screening business.
Key Highlights
- 10.55+/- acres with approximately 9.5+/- acres zoned L‑I
- Three commercial buildings totaling 6,000 square feet
- Commercial buildings measure 4,000, 800, and 1,200 square feet
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
$63,045
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
6.34%
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%
$1,260,900
$1.3M
Cap Rate 7%
$900,643
$900.6K
Cap Rate 9%
$700,500
$700.5K
Market Conditions
NOI Build-Up for 6,000 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
$108.0K $18.00/SF
− Vacancy
−$7.1K −$1.19/SF
EGI
$100.9K $16.81/SF
− OpEx
−$37.8K −$6.30/SF
NOI
$63.0K $10.51/SF
Area
Lee County, NC
Vacancy
6.60%
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%
$1,260,900
Cap Rate 7%
$900,643
Cap Rate 9%
$700,500
Alternative Uses
Best Use
Mixed Use
$900.6K
$788.1K – $1.05M
NOI $63,045 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,125 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 27330, NC
39,489
Population
17,026
Households
2.3
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
210.7 sq mi
ZIP Area
187
Density / Sq Mi
$60,726
Median Household Income
$37,477
Median Earnings
$966
Median Rent
$213,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-building tract with utility service and commercial, light industrial, and residential zoning components.
Where is this mixed-use property located?
The property is located at 1110 Hawkins Avenue Sanford, NC.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 10.55+/- acres with approximately 9.5+/- acres zoned L‑I; Three commercial buildings totaling 6,000 square feet; Commercial buildings measure 4,000, 800, and 1,200 square feet
