Corner Lot Retail/Office
For Sale
Contact for pricing
1211 S Main St, Lillington, NC 27546
Retail/office property with high visibility in growing market.
Property Size3,231 SF
Price / SF$103.68
Days on Market184
Property Features for 1211 S Main St
General Information
Standard status
Active
Size
3,231 SF
Property subtype
Retail, Land
Zoning
GB: General Business
Investment Type
Value Add
Building Details
Year Built
1940
Buildings
2
Listing Agency:
Century 21 Triangle Group Fuquay Varina
(919) 552-4517
Listed By:
Gina Clapp · License #288841
Source:
Crexi
Added: Feb 12
Changed: Aug 7
Last Checked: Aug 13 at 1:10PM
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 Fuquay Varina
Investment Insights
Based on property information with market context.
Located on a prominent corner lot at a signalized intersection, 1209/1211 S Main Street is a retail/office property that offers visibility, access, and long-term potential in a growing market. Constructed in the 1940s, the existing building includes storefront windows and a display area that reflects a classic downtown presence. The property also features a storage building. Situated a short distance from the intersection of Main and Front Streets, the property provides access to shops, services, and municipal offices in the Lillington historic downtown district. Main Street is a primary transportation corridor with a daily traffic count of over 18,000 cars. Renovations have been started, offering a head start for an investor or owner-user. The building interior has been opened up and offers a large open space. Zoning allows for professional, commercial, auto and retail applications. The property offers options to complete the renovation and restore the building’s charm, or remove the existing structures and redevelop the site. The property size is 3231 square feet.
Key Highlights
- High‑visibility corner lot at a signalized intersection with strong daily traffic (18,000+ cars).
- Flexible zoning allows for diverse commercial, retail, auto, and professional applications.
- Large, open interior space ready for customization, with renovations already started.
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
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 - Retail/office property with high visibility in growing market.
Where is this storefront property located?
The property is located at 1211 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: High‑visibility corner lot at a signalized intersection with strong daily traffic (18,000+ cars).; Flexible zoning allows for diverse commercial, retail, auto, and professional applications.; Large, open interior space ready for customization, with renovations already started.
