Renovated Live-Work
For Sale
$995,000
119 Turner Street, Beaufort, NC 28516
Two-level property pairs leased retail space with an upstairs one-bedroom residence.
Property Size2,003 SF
Price / SF$496.75
Days on Market83
Property Features for 119 Turner Street
General Information
Standard status
Active
Size
2,003 SF
Property subtype
Commercial
Zoning
H-BD
Amenities
Concrete,Tile,Wood
No
Yes
Electric
Public
0.03
see plat map in documents
Brick
On Street
Slab
City Street,State Road,Maintained
2003.0
Building Details
Year Built
1940
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
CENTURY 21 ZAYTOUN RAINES
(843) 301-0013
Listed By:
Justin Keown · License #124322
(864) 202-8039
Source:
Baystreetrealtygroup
Added: Jul 24
Changed: Oct 11
Last Checked: Oct 12 at 5:48PM
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 CENTURY 21 ZAYTOUN RAINES
Investment Insights
Based on property information with market context.
Built in 1940, this 2,003-square-foot live-work property combines a ground-floor retail operation with an independently configured upper level. The first floor contains approximately 1,000 square feet, including 495 square feet of public-facing area, and is occupied by a gift and coffee shop under lease through February 2027.
The renovated second floor includes one bedroom, one bath, and an open floor plan. Interior features include restored windows, hardwood flooring, white kitchen cabinetry, reclaimed wood countertops with a marine-grade finish, stainless steel appliances, and an updated bathroom with a tile shower. The upper level is currently operated as an Airbnb and also provides a residential option above the commercial space.
The property is located in downtown Beaufort at 119 Turner St, with access to the waterfront and Front Street’s shops, dining, and views along Taylor's Creek.
The renovated second floor includes one bedroom, one bath, and an open floor plan. Interior features include restored windows, hardwood flooring, white kitchen cabinetry, reclaimed wood countertops with a marine-grade finish, stainless steel appliances, and an updated bathroom with a tile shower. The upper level is currently operated as an Airbnb and also provides a residential option above the commercial space.
The property is located in downtown Beaufort at 119 Turner St, with access to the waterfront and Front Street’s shops, dining, and views along Taylor's Creek.
Key Highlights
- 2,003‑square‑foot live‑work property built in 1940
- Ground‑floor retail space totals approximately 1,000 square feet
- 495 square feet of first‑floor retail area is dedicated to public use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,006
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$620,120
$620.1K
Cap Rate 7%
$442,943
$442.9K
Cap Rate 9%
$344,511
$344.5K
Market Conditions
NOI Build-Up for 2,003 SF
Gross rent
$48.1K $24.00/SF
− Vacancy
−$6.7K −$3.36/SF
EGI
$41.3K $20.64/SF
− OpEx
−$10.3K −$5.16/SF
NOI
$31.0K $15.48/SF
Area
Carteret County, NC
Vacancy
14.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$620,120
Cap Rate 7%
$442,943
Cap Rate 9%
$344,511
Alternative Uses
Best Use
Office B
$442.9K
$387.6K – $516.8K
NOI $31,006 @ 7.0% cap · market cap 3.12%
Second Best
Specialty Retail
$374.3K
$327.6K – $436.7K
NOI $26,204 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$600.9K
$525.8K – $701.1K
NOI $42,063 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
514
Businesses Nearby
Explore this area
Business Placement
Demographics for 28516, NC
11,204
Population
7,183
Households
1.6
Avg Household Size
52
Median Age
27%
College-Educated
89%
High-School Grad
125.7 sq mi
ZIP Area
89
Density / Sq Mi
$63,257
Median Household Income
$36,227
Median Earnings
$869
Median Rent
$292,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - Two-level property pairs leased retail space with an upstairs one-bedroom residence.
Where is this live-work space located?
The property is located at 119 Turner Street Beaufort, 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: 2,003‑square‑foot live‑work property built in 1940; Ground‑floor retail space totals approximately 1,000 square feet; 495 square feet of first‑floor retail area is dedicated to public use
