Commercial Land With Existing
For Sale
$525,000
1475 W Market Street, Smithfield, NC 27577
Commercial Sale, Smithfield, NC
Property Size1,900 SF
Lot Size0.62 Acres
Price / SF$276.32
Days on Market208
Property Features for 1475 W Market Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COM
Parking features
Parking Lot
Fireplace
1
Subdivision
Rose Manor Park
Lot features
Landscaped
Directions
From Clayton take Hwy 70 Bus towards Smithfield, on R.
Standard status
Active
APN
15077028e
Size
1,900 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Parcel ID: 15-0-77-028-E
Tax Annual Amount
2227
Legal Description
Parcel ID: 15-0-77-028-E
Utilities
Sewer type
Public Sewer
Heating system
Propane (Heating), Forced Air
Water source
Public
Building Details
Year built
1976
Flooring type
Hardwood, Tile - Ceramic
Building materials
Brick, Brick Veneer
Listing Agency:
HTR Southern Properties
(919) 879-8770
Listed By:
Tracy L Riba · License #221530
(919) 637-0004
Added: Mar 12
Changed: Sep 12
Last Checked: Oct 5 at 5:06PM
MLS# 100559950
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 COM-zoned commercial land includes an approximately 1,900-square-foot building constructed in 1976. The structure previously operated as a cafe and features brick and brick veneer construction, hardwood and ceramic tile flooring, forced-air and propane heating, a fireplace, public water, and public sewer. On-site improvements include a parking lot, an open patio with a firepit, and an enclosed patio with a second firepit. The property is offered as-is, with a 20-foot utility easement on the site.
Located on W Market Street in Smithfield, the property records more than 13,500 passing vehicles daily. Johnston Regional Airport, an Amazon distribution plant, and Johnston Health Hospital are identified in the surrounding area. The combination of commercial zoning, an existing structure, outdoor areas, and established utility service supports a range of redevelopment or reuse considerations.
Located on W Market Street in Smithfield, the property records more than 13,500 passing vehicles daily. Johnston Regional Airport, an Amazon distribution plant, and Johnston Health Hospital are identified in the surrounding area. The combination of commercial zoning, an existing structure, outdoor areas, and established utility service supports a range of redevelopment or reuse considerations.
Key Highlights
- Approximately 1,900 SF building on COM‑zoned commercial land
- More than 13,500 vehicles pass daily
- Open patio and enclosed patio, each with a firepit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,918
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$598,360
$598.4K
Cap Rate 7%
$427,400
$427.4K
Cap Rate 9%
$332,422
$332.4K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$41.0K $21.60/SF
− Vacancy
−$1.1K −$0.60/SF
EGI
$39.9K $21.00/SF
− OpEx
−$10.0K −$5.25/SF
NOI
$29.9K $15.75/SF
Area
Johnston County, NC
Vacancy
2.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$598,360
Cap Rate 7%
$427,400
Cap Rate 9%
$332,422
Alternative Uses
Best Use
Specialty Retail
$427.4K
$374.0K – $498.6K
NOI $29,918 @ 7.0% cap · market cap 5.70%
Second Best
Retail
$333.2K
$291.6K – $388.8K
NOI $23,326 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$574.8K
$503.0K – $670.6K
NOI $40,236 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Explore this area
Business Placement
Demographics for 27577, NC
24,972
Population
10,744
Households
2.3
Avg Household Size
40
Median Age
21%
College-Educated
82%
High-School Grad
103.7 sq mi
ZIP Area
241
Density / Sq Mi
$56,237
Median Household Income
$39,604
Median Earnings
$802
Median Rent
$230,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial site with an existing building, parking lot, and two outdoor patio areas.
Where is this commercial land located?
The property is located at 1475 W Market Street Smithfield, NC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Approximately 1,900 SF building on COM‑zoned commercial land; More than 13,500 vehicles pass daily; Open patio and enclosed patio, each with a firepit
