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    302 Main Street Columbia, NC 27925

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    For Sale
    $425,000

    Restaurant with potential for residential or office space upstairs.

    Type:Commercial/Industrial
    Property size:
    4,524 SF
    Lot size:
    0.30 Acres
    Price / SF:
    $93/SF
    Added:
    Mar 11, 2026
    Days on Market:
    51
    Last Refresh:
    Apr 6 at 2:31 am

    Property Features for 302 Main Street

    General Information

    Standard status
    Active
    Size
    4,524 SF
    Lot size
    0.30 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1932

    We can help!

    Listing Contact
    Dillon Jones

    Listing agent Dillon Jones License #280509

    Listing office Harrell & Associates

    Listing date Mar 11, 2026

    Source Exitrealty

    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 Harrell & Associates

    Overview

    Turn Key Restaurant Opportunity

    This property features a 4,528 sq ft restaurant downstairs, with an additional 4,528 sq ft upstairs that could possibly be renovated for residential use, office space, or additional commercial use. The restaurant has seating for over 120 patrons. A finished wooden horseshoe bar with over 40 seats is centrally positioned in the middle of the dining area. Behind the bar are several coolers, a 6 tap kegerator, multiple sinks, 2 wine coolers, ample cabinet storage and shelving. The dining area surrounds the bar on all sides, with roughly 20 tables that can accommodate an additional 80+ customers. Table tops are a finished wood matching the bar top. Plates, glassware, silverware, and all cookware is included. Fronting Main Street, there are several large bay windows and two entrance doors. Finished pine flooring is found throughout the dining area. The dining area also features a rustic coastal decor and original brick walls. Bathrooms have been recently updated. The large kitchen has all the necessary equipment in place including 2 deep fryers, steam tables, updated hood system. There is a large prep area and ample storage areas. The upstairs 4524 square feet was previously finished for residential use and is currently being used for storage. A new roof was installed in 2022, and the HVAC was replaced in 2017. The property is located in Columbia, NC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Real Estate Agency Restaurant Building Supply Law Firm Auto Repair Shop Big Box & Wholesale Store Nail Salon Hotel & Motel Pharmacy Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Good Times Tavern & Restaurant — S Broad St, Columbia, NC 27925

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Tyrrell
    State
    North Carolina
    Longitude
    -76.2536
    Latitude
    35.9175

    Nearby Similar for Sale

    • $149,000

      Workshop on 1.38 Acres

      1.38-acre property with workshop and equipment included.
      35 Shady Lane, Columbia, NC 27925
      View Details
    • $350,000
      2,616 SF

      Mixed-Use Property in Downtown Columbia

      Mixed-use property with residential space and commercial storefront.
      101 N Broad Street, Columbia, NC 27925
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Restaurant with potential for residential or office space upstairs.
    Where is this bar & pub located?
    The property is located at 302 Main Street Columbia, NC.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Nearly turn‑key restaurant with all equipment included.; Large downstairs restaurant space (4,528 sq ft) with seating for over 120 patrons.; Upstairs space (4,528 sq ft) with potential for residential, office, or commercial renovation.
    (252) 441-7887
    We can help!
    Listing Contact
    Dillon Jones
    Real Estate License ID: 280509
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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