Versatile Flex
For Sale
$383,000
151 N Steele Street, Sanford, NC 27330
Commercial Sale, Sanford, NC
Property Size3,115 SF
Lot Size0.06 Acres
Price / SF$122.95
Days on Market93
Property Features for 151 N Steele Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD
Parking
2
Standard status
Active
APN
964360229900
Size
3,115 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
151 N Steele St Pc 2/444
Tax Annual Amount
1252
Legal Description
151 N Steele St Pc 2/444
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1947
Flooring type
Wood, Laminate, Simulated wood, Combination, Hardwood
Building materials
Block, Brick, Frame
Roof type
Membrane
Listing Agency:
Compass -- Cary
(919) 769-1956
Listed By:
David Lamb
(919) 770-9338
Added: Jul 31
Changed: Oct 29
Last Checked: Oct 31 at 7:06PM
MLS# 10183892
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,115-square-foot flex property occupies a 0.06-acre site in Sanford’s Central Business District. The building dates to 1947 and includes a flexible interior suited to retail, office, professional services, creative workspace, or a mixed-use concept, subject to zoning. Wood, simulated wood, hardwood, and laminate flooring are present, with block, brick, and frame construction.
The property is located near downtown restaurants, breweries, and shops, with public water and public sewer service. Regional access includes US-1 and US-421, connecting the site with Sanford and the broader Triangle region. Central heating and cooling, natural gas heating, central air, and a membrane roof complete the existing building systems.
The property is located near downtown restaurants, breweries, and shops, with public water and public sewer service. Regional access includes US-1 and US-421, connecting the site with Sanford and the broader Triangle region. Central heating and cooling, natural gas heating, central air, and a membrane roof complete the existing building systems.
Key Highlights
- 3,115 square feet of commercial space on a 0.06‑acre site
- CBD zoning in Sanford’s Central Business District
- Flexible layout for retail, office, professional services, or creative workspace, subject to zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,518
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$330,360
$330.4K
Cap Rate 7%
$235,971
$236.0K
Cap Rate 9%
$183,533
$183.5K
Market Conditions
NOI Build-Up for 3,115 SF
Gross rent
$24.3K $7.80/SF
− Vacancy
−$700 −$0.22/SF
EGI
$23.6K $7.58/SF
− OpEx
−$7.1K −$2.27/SF
NOI
$16.5K $5.30/SF
Area
Lee County, NC
Vacancy
2.88%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$330,360
Cap Rate 7%
$235,971
Cap Rate 9%
$183,533
Alternative Uses
Best Use
Office B
$646.8K
$566.0K – $754.6K
NOI $45,278 @ 7.0% cap · market cap 11.82%
Second Best
Retail
$527.4K
$461.5K – $615.3K
NOI $36,916 @ 7.0% cap · market cap 9.64%
Theoretical Best
Office A
$757.4K
$662.8K – $883.7K
NOI $53,020 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
991
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27330, NC
39,489
Population
17,026
Households
2.3
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
210.7 sq mi
ZIP Area
187
Density / Sq Mi
$60,726
Median Household Income
$37,477
Median Earnings
$966
Median Rent
$213,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Alkaline Bites FoodTruck & Commissary — 706 Wall St, Sanford, NC 27330
- GiGi's Creations Catering — 143 Charlotte Ave, Sanford, NC 27330
Frequently Asked Questions
What type of property is this?
Flex space - CBD-zoned space with a flexible floor plan for commercial uses.
Where is this flex space located?
The property is located at 151 N Steele Street Sanford, NC.
What is the asking price?
The asking price for this property is $383,000.
What are key features of this property?
This property features: 3,115 square feet of commercial space on a 0.06‑acre site; CBD zoning in Sanford’s Central Business District; Flexible layout for retail, office, professional services, or creative workspace, subject to zoning
