Freestanding Retail/Restaurant
For Sale
$495,000
2133 E 5th St, Lumberton, NC 28358
Freestanding C3 building with restaurant area and drive-through, fully leased, plus an upstairs residential living space.
Property Size3,290 SF
Days on Market48
Property Features for 2133 E 5th St
General Information
Standard status
Active
Size
3,290 SF
Property subtype
Retail
Building Details
Building Size
3,290 SF
Year Built
1945
Listing Agency:
Grant-Murray Real Estate
(910) 818-3252
Listed By:
Neil Grant · License #208918
(910) 818-3252
Source:
Grantmurrayre
Added: Jun 25
Changed: Aug 10
Last Checked: Aug 11 at 5:55AM
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 Grant-Murray Real Estate
Investment Insights
Based on property information with market context.
This freestanding commercial structure totals 3,290 SF and is zoned C3. The ground level reflects a former convenience store layout with a functional drive-through and an attached restaurant area that includes partial kitchen infrastructure. The entire building is under one current tenant lease, with an upstairs level used as residential living space, creating a live-work setup under a single occupancy.
The property is located at 2133 E 5th St in Lumberton, NC on NC Highway 211 near I-95, with a reported traffic count of 17,500 vehicles per day. Two legacy fuel pumps remain on site. The building is sold as-is.
The property is located at 2133 E 5th St in Lumberton, NC on NC Highway 211 near I-95, with a reported traffic count of 17,500 vehicles per day. Two legacy fuel pumps remain on site. The building is sold as-is.
Key Highlights
- 3,290 SF freestanding commercial building in Lumberton, NC, zoned C3
- Fully leased under one tenant at $2,800/month
- Ground level includes former convenience store layout with a functional drive‑through and attached restaurant area
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
$39,713
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
8.02%
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%
$794,260
$794.3K
Cap Rate 7%
$567,329
$567.3K
Cap Rate 9%
$441,256
$441.3K
Market Conditions
NOI Build-Up for 3,290 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
$59.2K $18.00/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$56.7K $17.24/SF
− OpEx
−$17.0K −$5.17/SF
NOI
$39.7K $12.07/SF
Area
Robeson County, NC
Vacancy
4.20%
Lease Rate
$18.00 /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%
$794,260
Cap Rate 7%
$567,329
Cap Rate 9%
$441,256
Alternative Uses
Best Use
Specialty Retail
$741.6K
$648.9K – $865.2K
NOI $51,912 @ 7.0% cap · market cap 10.49%
Second Best
Office B
$687.5K
$601.6K – $802.1K
NOI $48,128 @ 7.0% cap · market cap 9.72%
Theoretical Best
Office A
$906.9K
$793.6K – $1.06M
NOI $63,484 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 28358, NC
32,865
Population
14,838
Households
2.2
Avg Household Size
39
Median Age
17%
College-Educated
82%
High-School Grad
196.6 sq mi
ZIP Area
167
Density / Sq Mi
$46,756
Median Household Income
$34,031
Median Earnings
$837
Median Rent
$106,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Freestanding C3 building with restaurant area and drive-through, fully leased, plus an upstairs residential living space.
Where is this live-work space located?
The property is located at 2133 E 5th St Lumberton, NC.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 3,290 SF freestanding commercial building in Lumberton, NC, zoned C3; Fully leased under one tenant at $2,800/month; Ground level includes former convenience store layout with a functional drive‑through and attached restaurant area
