Historic Mixed-Use Brick
For Sale
$320,000
112 S Pine Street, Princeton, NC 27569
Commercial Sale, Princeton, NC
Property Size2,520 SF
Lot Size0.14 Acres
Price / SF$126.98
Days on Market419
Property Features for 112 S Pine Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Parking features
Garage
Subdivision
Not In Subdivision
Lot features
Level
Directions
Hwy 70 East towards Princeton. Turn Right on N. Pine Street. Property is on the right.
Standard status
Active
APN
264212-95-8530
Size
2,520 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BOON HILL Township PB 85/266 2 LOTS PINE STREET PRINCETON
Legal Description
BOON HILL Township PB 85/266 2 LOTS PINE STREET PRINCETON
Building Details
Year built
1935
Building materials
Brick
Listing Agency:
HTR Southern Properties
(919) 879-8770
Listed By:
Linsey Dale · License #302441
(919) 931-3821
Added: Aug 3, 2025
Changed: Aug 19
Last Checked: Sep 25 at 10:06PM
MLS# 100522948
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.
Investment Insights
Based on property information with market context.
This brick mixed-use property includes 2,520 square feet within a preserved commercial building in downtown Princeton. The interior features tall ceilings and original architectural details, while the flexible layout can be adapted for retail, office, studio, gallery, café, or other commercial use. A garage and an additional lot are included with the property.
The building is located at 112 S Pine Street in Princeton, with a walkable downtown setting and visibility within the community. C-2 zoning supports its commercial positioning, and the existing character provides a distinctive setting for an owner-user or business seeking a customizable space.
The building is located at 112 S Pine Street in Princeton, with a walkable downtown setting and visibility within the community. C-2 zoning supports its commercial positioning, and the existing character provides a distinctive setting for an owner-user or business seeking a customizable space.
Key Highlights
- 2,520‑square‑foot mixed‑use commercial building
- 0.138‑acre property with an additional lot
- C‑2 zoning in downtown Princeton
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
$26,082
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
8.15%
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%
$521,640
$521.6K
Cap Rate 7%
$372,600
$372.6K
Cap Rate 9%
$289,800
$289.8K
Market Conditions
NOI Build-Up for 2,520 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
$45.4K $18.00/SF
− Vacancy
−$3.6K −$1.44/SF
EGI
$41.7K $16.56/SF
− OpEx
−$15.6K −$6.21/SF
NOI
$26.1K $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%
$521,640
Cap Rate 7%
$372,600
Cap Rate 9%
$289,800
Alternative Uses
Best Use
Retail
$442.0K
$386.7K – $515.6K
NOI $30,937 @ 7.0% cap · market cap 9.67%
Second Best
Mixed Use
$372.6K
$326.0K – $434.7K
NOI $26,082 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$762.4K
$667.1K – $889.4K
NOI $53,365 @ 7.0% cap · market cap 16.68%
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
204
Businesses Nearby
67k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 26%
Home Improvements & Furnishings 4%
Groceries 2%
Bojangles' Famous Chicken 'n Biscuits
Dining
30,650 visits/mo
0.5 miles
Hardee's
Dining
14,470 visits/mo
0.4 miles
Dollar General
Shops & Services
11,326 visits/mo
0.4 miles
Dollar Tree
Shops & Services
3,673 visits/mo
0.4 miles
Community Hardware True Value
Home Improvements & Furnishings
2,734 visits/mo
0.0 miles
Demographics for 27569, NC
8,854
Population
3,559
Households
2.5
Avg Household Size
39
Median Age
21%
College-Educated
85%
High-School Grad
80.0 sq mi
ZIP Area
111
Density / Sq Mi
$73,507
Median Household Income
$49,417
Median Earnings
$967
Median Rent
$194,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown brick property with flexible interior space, garage parking, and C-2 zoning.
Where is this mixed-use property located?
The property is located at 112 S Pine Street Princeton, NC.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 2,520‑square‑foot mixed‑use commercial building; 0.138‑acre property with an additional lot; C‑2 zoning in downtown Princeton
