Brevard Landmark Restaurant
For Sale
$1,500,000
Pending
1196 N Country Club Road, Brevard, NC 28712
Multi-use property with established restaurant and event venue potential.
Property Size5,732 SF
Lot Size3.00 Acres
Days on Market325
Property Features for 1196 N Country Club Road
General Information
Standard status
Pending
Size
5,732 SF
Lot size
3.00 Acres
Property subtype
Commercial
Amenities
Central air
Central Air Cooling
Heat Pump Cooling
Heat Pump Heating
Level
Sloped
Tile Flooring
Wood Flooring
Building Details
Year Built
1930
Listing Agency:
PETIT PROPERTIES INC
(828) 966-7800
Listed By:
JAKE RAINES · License #283310
Source:
Corcoran
Added: Oct 2, 2025
Changed: Aug 8
Last Checked: Jul 23 at 6:53AM
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 PETIT PROPERTIES INC
Investment Insights
Based on property information with market context.
This multi-use property, originally established in 1930 as The Brevard Country Club, offers a unique opportunity for various buyers. The property, situated on just under 3 acres, features city water, city sewer, fiber optic internet, and natural gas. The rustic cabin includes hardwood floors, a stone fireplace, an open dining area, a covered side porch, and two renovated bathrooms. The kitchen is equipped with generous prep space, two new vent hood systems, and a functional layout. The basement contains a full-size smoker and a large walk-in cooler. The property also includes ample parking, green space, and an outdoor entertaining platform. This property is located in Brevard, NC.
Key Highlights
- Prime location in Brevard, NC, suitable for various ventures.
- Just under 3 acres with city water, city sewer, fiber optic internet, and natural gas.
- Established history as a successful event and catering center.
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
$75,447
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
5.03%
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%
$1,508,940
$1.5M
Cap Rate 7%
$1,077,814
$1.1M
Cap Rate 9%
$838,300
$838.3K
Market Conditions
NOI Build-Up for 5,732 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
$103.2K $18.00/SF
− Vacancy
−$2.6K −$0.45/SF
EGI
$100.6K $17.55/SF
− OpEx
−$25.1K −$4.39/SF
NOI
$75.4K $13.16/SF
Area
Transylvania County, NC
Vacancy
2.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,508,940
Cap Rate 7%
$1,077,814
Cap Rate 9%
$838,300
Alternative Uses
Best Use
Specialty Retail
$1.08M
$943.1K – $1.26M
NOI $75,447 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,171 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28712, NC
18,928
Population
10,714
Households
1.8
Avg Household Size
52
Median Age
40%
College-Educated
94%
High-School Grad
116.2 sq mi
ZIP Area
163
Density / Sq Mi
$61,560
Median Household Income
$34,583
Median Earnings
$939
Median Rent
$372,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Multi-use property with established restaurant and event venue potential.
Where is this conventional restaurant located?
The property is located at 1196 N Country Club Road Brevard, NC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime location in Brevard, NC, suitable for various ventures.; Just under 3 acres with city water, city sewer, fiber optic internet, and natural gas.; Established history as a successful event and catering center.
