Turnkey Restaurant Opportunity Near
619 Oakland Rd Spindale, NC 28160
619 Oakland Rd, Spindale, NC, 28160
$2,000,000
For Sale
$2,000,000
Turnkey restaurant with seating for 200 near retail hub.
Property Size6,380 SF
Price / SF$313.48
Days on Market113
Property Features for 619 Oakland Rd
General Information
- Standard status
- Active
- Size
- 6,380 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1985
Listing agency
Dewey Property Advisors
(828) 551-0087
Listed by
Scott Raines, CCIM · License #NC #226165
(828) 551-0087
Source
Deweypa
Added: Apr 1 Updated: Jul 10 at 1:15PM Checked: Jul 22 at 11:06AM
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 Dewey Property Advisors
Investment Insights
Based on property information with market context.
This is a turnkey restaurant opportunity located off College Avenue (Alt 74), situated just west of Forest City’s primary retail hub and in close proximity to Rutherfordton and Spindale. The building has an area of approximately 6,380 square feet and features a large commercial kitchen equipped with hoods and other equipment, a walk-in cooler and freezer, a bar area, and a food and salad bar. Multiple dining areas are available, including a solarium, with seating for approximately 200 guests. The property also offers six restrooms and approximately 85 on-site parking spaces.
Key Highlights
- Turnkey restaurant opportunity with existing equipment.
- Seating for approximately 200 guests.
- Large commercial kitchen with hoods, walk‑in cooler, and freezer.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.7k | $17.04 |
| − Vacancy | −$7.8k | −$1.23 |
| EGI | $100.9k | $15.81 |
| − OpEx | −$25.2k | −$3.95 |
| NOI | $75.7k | $11.86 |
6,380 SF · lease $17.04/SF/yr · vacancy 7.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.08M
$945.8K – $1.26M
NOI $75,666 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,487 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Don's Italian Restaurant
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Turnkey restaurant with seating for 200 near retail hub.
Where is this conventional restaurant located?
The property is located at 619 Oakland Rd Spindale, NC.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Turnkey restaurant opportunity with existing equipment.; Seating for approximately 200 guests.; Large commercial kitchen with hoods, walk‑in cooler, and freezer.
