Signalized Corner Storefront
For Sale
$325,000
Pending
1209 S Main Street, Lillington, NC 27546
Commercial Sale, Lillington, NC
Property Size3,231 SF
Lot Size0.42 Acres
Days on Market231
Property Features for 1209 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
GB: General Bus
Standard status
Pending
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
Wall/Window Unit(s), Gas (Cooling), Window Unit(s)
Water source
Public
Amenities
storage building
signage
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: Sep 25
Last Checked: Oct 1 at 9:06AM
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.
This 3,231-square-foot storefront property includes approximately 2,361 SF of retail space and an additional 870 SF storage building on 0.42 acres. The 1940 building has brick construction, concrete flooring, a flat roof, natural-gas heating, and wall or window cooling units. The interior has been opened up for renovation, while water damage is present in the rear left corner.
The property occupies the signalized intersection of S. Main Street (US-401) and E. McNeill Street in downtown Lillington, with 18,000+ vehicles per day. Storefront windows, Main Street signage, and frontage provide prominent exposure. GB: General Bus zoning, public water, public sewer, and cable availability are also reported.
The property occupies the signalized intersection of S. Main Street (US-401) and E. McNeill Street in downtown Lillington, with 18,000+ vehicles per day. Storefront windows, Main Street signage, and frontage provide prominent exposure. GB: General Bus zoning, public water, public sewer, and cable availability are also reported.
Key Highlights
- 3,231 SF property on a 0.42‑acre lot
- Approximately 2,361 SF of retail space plus an 870 SF storage building
- Signalized corner at S. Main Street (US‑401) and E. McNeill Street
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
8.81%
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 8.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$703.3K
$615.4K – $820.6K
NOI $49,234 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
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
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
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Frequently Asked Questions
What type of property is this?
Storefront property - GB General Business zoning, public water and sewer, and a separate storage building support repositioning.
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 $325,000.
What are key features of this property?
This property features: 3,231 SF property on a 0.42‑acre lot; Approximately 2,361 SF of retail space plus an 870 SF storage building; Signalized corner at S. Main Street (US‑401) and E. McNeill Street
