Freestanding Restaurant with
For Sale
$1,299,000
307 E Main St., Carrboro, NC 27510
Built-out restaurant with included FF&E and substantial outdoor seating area.
Property Size2,878 SF
Days on Market67
Property Features for 307 E Main St.
General Information
Standard status
Active
Size
2,878 SF
Property subtype
Retail
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Building Details
Building Size
2,878 SF
Year Built
1952
Buildings
1
Listing Agency:
(910) 465-2194
Listed By:
Shawn Stokes · License #NC #353998
(910) 465-2194
Source:
Maverickpartners
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 29 at 2:18PM
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 Shawn Stokes
Investment Insights
Based on property information with market context.
This freestanding restaurant property offers an established second-generation layout in a building constructed in 1952. The sale includes FF&E, and the premises feature a nearly 2,000-square-foot outdoor patio that expands the available seating area and supports event use.
The property is located in Downtown Carrboro at 307 E. Main St., within walking distance of the University of North Carolina, Cat’s Cradle, Carr Mill Mall, and Weaver Street Market. The surrounding area includes bars, nightlife, and other downtown amenities, providing a walkable setting for restaurant operations and gatherings.
The existing build-out and outdoor component provide a functional restaurant configuration for an owner-occupant or event-oriented operation, based on the current property improvements.
The property is located in Downtown Carrboro at 307 E. Main St., within walking distance of the University of North Carolina, Cat’s Cradle, Carr Mill Mall, and Weaver Street Market. The surrounding area includes bars, nightlife, and other downtown amenities, providing a walkable setting for restaurant operations and gatherings.
The existing build-out and outdoor component provide a functional restaurant configuration for an owner-occupant or event-oriented operation, based on the current property improvements.
Key Highlights
- Nearly 2,000‑square‑foot outdoor patio
- FF&E included in the sale
- Second‑generation restaurant build‑out
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
$38,957
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
3.00%
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%
$779,140
$779.1K
Cap Rate 7%
$556,529
$556.5K
Cap Rate 9%
$432,856
$432.9K
Market Conditions
NOI Build-Up for 2,878 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
$55.3K $19.20/SF
− Vacancy
−$3.3K −$1.15/SF
EGI
$51.9K $18.05/SF
− OpEx
−$13.0K −$4.51/SF
NOI
$39.0K $13.54/SF
Area
Orange 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%
$779,140
Cap Rate 7%
$556,529
Cap Rate 9%
$432,856
Alternative Uses
Best Use
Specialty Retail
$556.5K
$487.0K – $649.3K
NOI $38,957 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$929.3K
$813.2K – $1.08M
NOI $65,054 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,543
Businesses Nearby
104k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Groceries 28%
Shops & Services 15%
Hotels & Casinos 10%
Harris Teeter
Groceries
29,160 visits/mo
0.1 miles
McDonald's
Dining
19,905 visits/mo
0.5 miles
Wendy's
Dining
12,568 visits/mo
0.2 miles
Hampton Inn & Suites Carrboro/Chapel Hill
Hotels & Casinos
10,359 visits/mo
0.1 miles
Bank of America
Shops & Services
4,866 visits/mo
0.1 miles
Demographics for 27510, NC
14,801
Population
7,671
Households
1.9
Avg Household Size
32
Median Age
65%
College-Educated
94%
High-School Grad
3.2 sq mi
ZIP Area
4,625
Density / Sq Mi
$62,737
Median Household Income
$40,835
Median Earnings
$1,360
Median Rent
$439,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Built-out restaurant with included FF&E and substantial outdoor seating area.
Where is this conventional restaurant located?
The property is located at 307 E Main St. Carrboro, NC.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Nearly 2,000‑square‑foot outdoor patio; FF&E included in the sale; Second‑generation restaurant build‑out
