Downtown Corner Storefront
New
For Sale
$335,000
1209 S Main St, Lillington, NC 27546
Signalized downtown corner with prominent storefront windows, Main Street signage, and GB General Business zoning.
Property Size3,231 SF
Lot Size0.42 Acres
Price / SF$103.68
Days on Market4
Property Features for 1209 S Main St
General Information
Standard status
Active
Size
3,231 SF
Lot size
0.42 Acres
Zoning
GB General Business
Property Condition
Severity
Major Repairs Needed
Evidence
water damage
Site & Location
Corner Location
Yes
Traffic Count
18,000 vehicles/day
Building Details
Year Built
1940
Buildings
2
Listing Agency:
Century 21 Triangle Group
(919) 552-4517
Listed By:
Gina Marie Bobber Clapp · License #288841
Source:
Tcrnc
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 11:41AM
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 Triangle Group
Investment Insights
Based on property information with market context.
This storefront property in downtown Lillington includes approximately 2,361 SF of retail space and a separate 870 SF storage building on a 0.42-acre lot. The interior has been opened up for reconfiguration, while the building remains a full renovation project and has water damage in the rear left corner. Expansive windows, Main Street frontage, and prominent signage provide a visible commercial presence.
The property occupies the signalized intersection of S. Main Street, identified as US-401, and E. McNeill Street, along a corridor carrying more than 18,000 vehicles per day. GB General Business zoning is identified as supporting retail, restaurant, office, automotive, and boutique showroom concepts, as well as redevelopment. The location is minutes from Campbell University and the Capeton community.
The property occupies the signalized intersection of S. Main Street, identified as US-401, and E. McNeill Street, along a corridor carrying more than 18,000 vehicles per day. GB General Business zoning is identified as supporting retail, restaurant, office, automotive, and boutique showroom concepts, as well as redevelopment. The location is minutes from Campbell University and the Capeton community.
Key Highlights
- Approximately 2,361 SF of retail space plus an 870 SF storage building
- 0.42‑acre lot at the signalized corner of S. Main Street and E. McNeill Street
- US‑401 frontage with 18,000+ vehicles per day
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
$28,621
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
8.54%
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%
$572,420
$572.4K
Cap Rate 7%
$408,871
$408.9K
Cap Rate 9%
$318,011
$318.0K
Market Conditions
NOI Build-Up for 3,231 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
$44.6K $13.80/SF
− Vacancy
−$3.7K −$1.15/SF
EGI
$40.9K $12.65/SF
− OpEx
−$12.3K −$3.80/SF
NOI
$28.6K $8.86/SF
Area
Harnett County, NC
Vacancy
8.30%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$572,420
Cap Rate 7%
$408,871
Cap Rate 9%
$318,011
Alternative Uses
Best Use
Retail
$408.9K
$357.8K – $477.0K
NOI $28,621 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$703.3K
$615.4K – $820.6K
NOI $49,234 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
80k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Groceries 25%
Dining 13%
Apparel 1%
Food Lion Grocery Store
Groceries
19,871 visits/mo
0.4 miles
Circle K
Shops & Services
11,692 visits/mo
0.1 miles
Hardee's
Dining
10,538 visits/mo
0.2 miles
Dollar Tree
Shops & Services
9,875 visits/mo
0.4 miles
Dollar General
Shops & Services
7,050 visits/mo
0.3 miles
Demographics for 27546, NC
20,637
Population
7,933
Households
2.6
Avg Household Size
37
Median Age
26%
College-Educated
89%
High-School Grad
122.5 sq mi
ZIP Area
168
Density / Sq Mi
$61,781
Median Household Income
$39,914
Median Earnings
$1,079
Median Rent
$227,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Signalized downtown corner with prominent storefront windows, Main Street signage, and GB General Business zoning.
Where is this storefront property located?
The property is located at 1209 S Main St Lillington, NC.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Approximately 2,361 SF of retail space plus an 870 SF storage building; 0.42‑acre lot at the signalized corner of S. Main Street and E. McNeill Street; US‑401 frontage with 18,000+ vehicles per day
