Storefront Property with Storage
For Sale
$335,000
1209 S Main Street, Lillington, NC 27546
COMMERCIAL - Lillington, NC
Property Size3,231 SF
Lot Size0.42 Acres
Price / SF$103.68
Days on Market184
Property Features for 1209 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
GB: General Bus
Standard status
Active
APN
10055906430001
Size
3,231 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
1 Lot 132X138 Main & McNeill St
Tax Annual Amount
1975
Legal Description
1 Lot 132X138 Main & McNeill St
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Gas (Cooling), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Flooring type
Concrete
Building materials
Brick
Roof type
Flat
Listing Agency:
Century 21 Triangle Group · Century 21 Real Estate
(919) 552-4517
Listed By:
Gina Marie Bobber Clapp · License #288841
(919) 818-3916
Added: Feb 12
Changed: Aug 4
Last Checked: Aug 15 at 10:06AM
MLS# 10146041
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.
Storefront property featuring brick construction and concrete flooring, built in 1940, with a flat roof. The offering includes approximately 2,361 SF of retail space plus an additional 870 SF storage building on a 0.42-acre lot. The interior is an ongoing renovation project, with the owners having opened up the interior to create a blank canvas for customization. Heating is natural gas, and cooling is provided via wall/window unit(s) and window unit(s). Water source is public, and sewer is public sewer. Cable service is listed as available. The rear left corner has water damage.
Located at the signalized corner of S. Main Street (US-401) and E. McNeill Street in downtown Lillington, the property is positioned for high exposure, with signage and storefront windows along Main Street frontage. The listing describes the site as being on one of Lillington’s busiest corridors with 18,000+ vehicles per day.
Zoned GB: General Bus, the space supports a flexible range of uses for an owner-user or investor looking to redevelop and re-tenant a prominent downtown storefront corner.
Located at the signalized corner of S. Main Street (US-401) and E. McNeill Street in downtown Lillington, the property is positioned for high exposure, with signage and storefront windows along Main Street frontage. The listing describes the site as being on one of Lillington’s busiest corridors with 18,000+ vehicles per day.
Zoned GB: General Bus, the space supports a flexible range of uses for an owner-user or investor looking to redevelop and re-tenant a prominent downtown storefront corner.
Key Highlights
- Approximately 2,361 SF retail space plus 870 SF storage building
- 0.42‑acre lot at the signalized corner of S. Main Street (US‑401) and E. McNeill Street
- GB: General Bus zoning
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
480
Businesses Nearby
27k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 39%
Apparel 3%
Hardee's
Dining
10,538 visits/mo
0.4 miles
Exxon
Shops & Services
5,968 visits/mo
0.3 miles
Marathon Petroleum
Shops & Services
5,411 visits/mo
0.3 miles
Truist
Shops & Services
4,064 visits/mo
0.2 miles
Carter's & OshKosh B'gosh
Apparel
876 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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- Maggie's Florist & Gifts — 206 W Front St, Lillington, NC 27546
Frequently Asked Questions
What type of property is this?
Storefront property - General Bus (GB) storefront on a 0.42-acre lot at a signalized downtown corner with retail frontage and rear storage building.
Where is this storefront property located?
The property is located at 1209 S Main Street 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 retail space plus 870 SF storage building; 0.42‑acre lot at the signalized corner of S. Main Street (US‑401) and E. McNeill Street; GB: General Bus zoning
