Finished Restaurant
For Sale
$475,000
919 N 2nd Avenue, Siler City, NC 27344
C-2 site with city utilities, paved parking, and drive-thru potential.
Property Size1,717 SF
Days on Market468
Property Features for 919 N 2nd Avenue
General Information
Standard status
Active
Size
1,717 SF
Property subtype
Business
Zoning
C-2
Site & Location
Drive-Thru
No
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,375
Building Details
Building Size
1,717 SF
Year Built
1956
Listing Agency:
Realty World Carolina Prop
(919) 542-0523
Listed By:
Eric Andrews · License #177746
(919) 542-0523
Source:
Dustinbennett
Added: May 8, 2025
Changed: Aug 15
Last Checked: Aug 17 at 3:22PM
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 Realty World Carolina Prop
Investment Insights
Based on property information with market context.
Located at 919 N 2nd Avenue in Siler City, this restaurant property includes a finished food-service space within a commercial setting. The building dates to 1956 and is supported by city water and sewer infrastructure.
The site fronts a paved roadway near Highway 64, with visibility from the corridor and a paved parking area accommodating multiple vehicles. C-2 Highway Commercial zoning is identified for the property, and the existing configuration may support consideration of a drive-thru component. A survey is available for review.
The site fronts a paved roadway near Highway 64, with visibility from the corridor and a paved parking area accommodating multiple vehicles. C-2 Highway Commercial zoning is identified for the property, and the existing configuration may support consideration of a drive-thru component. A survey is available for review.
Key Highlights
- Finished restaurant space in a 1956 building
- C‑2 Highway Commercial zoning
- City water and sewer service
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
$23,241
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
4.89%
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%
$464,820
$464.8K
Cap Rate 7%
$332,014
$332.0K
Cap Rate 9%
$258,233
$258.2K
Market Conditions
NOI Build-Up for 1,717 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
$33.0K $19.20/SF
− Vacancy
−$2.0K −$1.15/SF
EGI
$31.0K $18.05/SF
− OpEx
−$7.7K −$4.51/SF
NOI
$23.2K $13.54/SF
Area
Chatham County, NC
Vacancy
6.00%
Lease Rate
$19.20 /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%
$464,820
Cap Rate 7%
$332,014
Cap Rate 9%
$258,233
Alternative Uses
Best Use
Specialty Retail
$332.0K
$290.5K – $387.4K
NOI $23,241 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$554.4K
$485.1K – $646.9K
NOI $38,811 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
20k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Speedway
Shops & Services
11,153 visits/mo
0.4 miles
Mobil
Shops & Services
6,619 visits/mo
0.3 miles
7-Eleven
Shops & Services
2,716 visits/mo
0.4 miles
Demographics for 27344, NC
17,834
Population
8,086
Households
2.2
Avg Household Size
40
Median Age
22%
College-Educated
76%
High-School Grad
166.3 sq mi
ZIP Area
107
Density / Sq Mi
$62,493
Median Household Income
$32,823
Median Earnings
$1,072
Median Rent
$176,800
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - C-2 site with city utilities, paved parking, and drive-thru potential.
Where is this conventional restaurant located?
The property is located at 919 N 2nd Avenue Siler City, NC.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Finished restaurant space in a 1956 building; C‑2 Highway Commercial zoning; City water and sewer service
