Turnkey Sports Bar & Entertainment
For Sale
$3,750,000
1420 E Broad, Fuquay Varina, NC 27526
Fully equipped venue in a booming market, ready for service.
Property Size11,879 SF
Lot Size1.82 Acres
Price / SF$315.68
Days on Market180
Property Features for 1420 E Broad
General Information
Standard status
Active
Size
11,879 SF
Lot size
1.82 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$28,302
Amenities
Central air
Accessible Entrance
Electric Cooling
Building Details
Year Built
2004
Listing Agency:
CENTURY 21 TRIANGLE GROUP
(919) 552-4517
Listed By:
MARGUERITE GREENE · License #283390
Source:
Corcoran
Added: Feb 19
Changed: Aug 17
Last Checked: Aug 18 at 4:46AM
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 CENTURY 21 TRIANGLE GROUP
Investment Insights
Based on property information with market context.
This standalone retail property, currently a second-generation restaurant and home to the Cleveland Draft House, offers a rare opportunity to acquire a fully equipped, high-capacity venue. The property, situated on a 1.82-acre corner lot in downtown Fuquay-Varina, was completely renovated in 2020 and includes all furniture, fixtures, and equipment. The building encompasses approximately 11,879 square feet of indoor space, complemented by a heated year-round patio suitable for large crowds and community events. The property benefits from the town's Downtown Development Program, which supports local business growth through the NC Main Street initiative. The site's standalone structure and high parking ratio also make it an ideal candidate for a medical health complex or urgent care facility. Significant daily traffic counts are observed on E. Broad St (Hwy 401). Major nearby developments, such as Gold Leaf Crossing (Target-anchored), are scheduled to open in 2026. This property is located in Fuquay-Varina, one of North Carolina's fastest-growing communities.
Key Highlights
- Turnkey Sports Bar/Restaurant: Fully renovated in 2020 and inclusive of all Furniture, Fixtures, and Equipment (FFE), allowing for immediate operation.
- Prime Location: 1.82‑acre corner lot in downtown Fuquay‑Varina, benefiting from the Downtown Development Program and heavy foot traffic.
- High Capacity Venue: Over 11,000 sq. ft. of indoor space plus a heated year‑round patio, ideal for large crowds and events.
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
$237,423
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
6.33%
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%
$4,748,460
$4.7M
Cap Rate 7%
$3,391,757
$3.4M
Cap Rate 9%
$2,638,033
$2.6M
Market Conditions
NOI Build-Up for 11,879 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
$335.0K $28.20/SF
− Vacancy
−$18.4K −$1.55/SF
EGI
$316.6K $26.65/SF
− OpEx
−$79.1K −$6.66/SF
NOI
$237.4K $19.99/SF
Area
Wake County, NC
Vacancy
5.50%
Lease Rate
$28.20 /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%
$4,748,460
Cap Rate 7%
$3,391,757
Cap Rate 9%
$2,638,033
Alternative Uses
Best Use
Specialty Retail
$3.39M
$2.97M – $3.96M
NOI $237,423 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
570k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Superstores 17%
Shops & Services 14%
Groceries 12%
Walmart
Superstores
95,228 visits/mo
0.4 miles
T.J. Maxx
Apparel
43,432 visits/mo
0.2 miles
Harris Teeter
Groceries
42,883 visits/mo
0.2 miles
Chick-fil-A
Dining
41,239 visits/mo
0.3 miles
McDonald's
Dining
28,386 visits/mo
0.1 miles
Demographics for 27526, NC
56,089
Population
22,612
Households
2.5
Avg Household Size
39
Median Age
46%
College-Educated
95%
High-School Grad
98.2 sq mi
ZIP Area
571
Density / Sq Mi
$105,055
Median Household Income
$54,786
Median Earnings
$1,591
Median Rent
$372,300
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.
Similar Off Market Nearby
- Cellar 55 — 1351 E Broad St, Fuquay-Varina, NC 27526
- WINGIN'IT Bar And Grille — 1625 N Main St #109, Fuquay-Varina, NC 27526
- Cellar 55 Tasting Room — 1351 e broad st, fuquay-varina, nc 27526
- TCB - The Corner Biergarten & Bottle Shop — 1625 N Main St #133, Fuquay-Varina, NC 27526
Frequently Asked Questions
What type of property is this?
Bar & Pub - Fully equipped venue in a booming market, ready for service.
Where is this bar & pub located?
The property is located at 1420 E Broad Fuquay Varina, NC.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Turnkey Sports Bar/Restaurant: Fully renovated in 2020 and inclusive of all Furniture, Fixtures, and Equipment (FFE), allowing for immediate operation.; Prime Location: 1.82‑acre corner lot in downtown Fuquay‑Varina, benefiting from the Downtown Development Program and heavy foot traffic.; High Capacity Venue: Over 11,000 sq. ft. of indoor space plus a heated year‑round patio, ideal for large crowds and events.
