NNN Property with Three
New
For Sale
$1,920,000
1295 Old Us 1 Highway, Southern Pines, NC 28387
Commercial Sale, Southern Pines, NC
Property Size14,003 SF
Lot Size0.99 Acres
Price / SF$137.11
Days on Market1
Property Features for 1295 Old Us 1 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GB
Subdivision
Not In Subdivision
Directions
Taking US 1/N Sandhills Blvd heading north from Aberdeen towards Southern Pines. Keep to the part right toward Southern Pines/Business Dist. Continue 0.1 mile. Property will be located on the right.
Standard status
Active
APN
00051120
Size
14,003 SF
Lot size
0.99 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
DUNN LOT 1 2 6
Legal Description
DUNN LOT 1 2 6
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1966
Listing Agency:
Carolina Summit Group, LLC
(910) 684-5353
Listed By:
Holly Spofford Bell · License #252152
(910) 690-1065
Added: Aug 21
Last Checked: Aug 21 at 7:06PM
MLS# 100598048
Copyright © 2026 Hive 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 multi-tenant commercial property comprises three buildings totaling approximately 14,003 square feet. Office improvements include a 2,008-square-foot two-story building at 1275-1285 Old US 1 Highway and an 8,985-square-foot two-story building at 1295. A 3,010-square-foot single-story storage building at 1297 completes the property. The improvements date to 1966 and are heated with electric systems.
The property is fully leased, with leases primarily structured as NNN. It carries a current cap rate of 7.97% and includes 44 parking spaces. Zoning is GB, or General Business, within an Urban Village Highway Corridor. Portions of the site are within the Southern Pines city limits, while the remainder lies in the ETJ.
The property is fully leased, with leases primarily structured as NNN. It carries a current cap rate of 7.97% and includes 44 parking spaces. Zoning is GB, or General Business, within an Urban Village Highway Corridor. Portions of the site are within the Southern Pines city limits, while the remainder lies in the ETJ.
Key Highlights
- Three‑building commercial property totaling +/- 14,003 SF
- Two‑story office buildings measure 2,008 SF and 8,985 SF
- Single‑story storage building contains 3,010 SF
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
$103,216
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
5.38%
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%
$2,064,320
$2.1M
Cap Rate 7%
$1,474,514
$1.5M
Cap Rate 9%
$1,146,844
$1.1M
Market Conditions
NOI Build-Up for 14,003 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
$393.2K $28.08/SF
− Vacancy
−$255.6K −$18.25/SF
EGI
$137.6K $9.83/SF
− OpEx
−$34.4K −$2.46/SF
NOI
$103.2K $7.37/SF
Area
Moore County, NC
Vacancy
65.00%
Lease Rate
$28.08 /SF/Yr
Expense Ratio
25.00%
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%
$2,064,320
Cap Rate 7%
$1,474,514
Cap Rate 9%
$1,146,844
Alternative Uses
Best Use
Office B
$1.47M
$1.29M – $1.72M
NOI $103,216 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.67M
$2.33M – $3.11M
NOI $186,777 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 28387, NC
16,413
Population
8,731
Households
1.9
Avg Household Size
45
Median Age
53%
College-Educated
93%
High-School Grad
29.5 sq mi
ZIP Area
556
Density / Sq Mi
$73,587
Median Household Income
$51,681
Median Earnings
$1,137
Median Rent
$366,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Fully leased commercial asset with office and storage improvements, GB zoning, and 44 on-site parking spaces.
Where is this nnn property located?
The property is located at 1295 Old Us 1 Highway Southern Pines, NC.
What is the asking price?
The asking price for this property is $1,920,000.
What are key features of this property?
This property features: Three‑building commercial property totaling +/- 14,003 SF; Two‑story office buildings measure 2,008 SF and 8,985 SF; Single‑story storage building contains 3,010 SF
