Open-Plan Retail
For Sale
$999,000
1530 N Bragg Boulevard, Spring Lake, NC 28390
CommercialSale, Spring Lake, NC
Property Size8,200 SF
Lot Size3.04 Acres
Price / SF$121.83
Days on Market262
Property Features for 1530 N Bragg Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C(P) - Planned Commercial District
Parking features
Parking Lot
Security features
Security
Subdivision
SPRING LAKE
Lot features
Three To Five Acres, Level
Standard status
Active
APN
0502-44-6435
Size
8,200 SF
Lot size
3.04 Acres
Taxes and HOA fees
Tax Description
ROGUE PLANTATION LLC RECOMB LO:1 PL:143-104
Legal Description
ROGUE PLANTATION LLC RECOMB LO:1 PL:143-104
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air
Water source
Public
Building Details
Year built
2014
Building materials
Masonry, Steel
Listing Agency:
EXIT REALTY PREFERRED
(910) 904-7355
Listed By:
ANTHONY RAY SHERRILL · License #353597
(804) 929-4071
Added: Dec 4, 2025
Changed: Aug 23
Last Checked: Aug 23 at 10:06PM
MLS# 753984
Copyright © 2026 Longleaf Pine Realtors. 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 8,200-square-foot retail building occupies 3.04 acres at 1530 N Bragg Boulevard in Spring Lake. Built in 2014, the property has a broad, open interior configuration with masonry and steel construction. Electric forced-air heating supports the building, while public water and public sewer serve the site. A parking lot is included with the property.
The sale includes the real estate only; the existing gym business does not convey. The property is positioned along N Bragg Boulevard in Cumberland County and offers a retail-oriented building with adaptable interior space for a range of commercial configurations. Its combination of substantial land area, open floor space, parking, and established utility service provides a straightforward physical platform for a new occupant or owner-user.
The sale includes the real estate only; the existing gym business does not convey. The property is positioned along N Bragg Boulevard in Cumberland County and offers a retail-oriented building with adaptable interior space for a range of commercial configurations. Its combination of substantial land area, open floor space, parking, and established utility service provides a straightforward physical platform for a new occupant or owner-user.
Key Highlights
- 8,200‑square‑foot retail building on 3.04 acres
- Built in 2014 with masonry and steel construction
- Broad open interior layout
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
$80,011
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
8.01%
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%
$1,600,220
$1.6M
Cap Rate 7%
$1,143,014
$1.1M
Cap Rate 9%
$889,011
$889.0K
Market Conditions
NOI Build-Up for 8,200 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
$118.1K $14.40/SF
− Vacancy
−$3.8K −$0.46/SF
EGI
$114.3K $13.94/SF
− OpEx
−$34.3K −$4.18/SF
NOI
$80.0K $9.76/SF
Area
Cumberland County, NC
Vacancy
3.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,600,220
Cap Rate 7%
$1,143,014
Cap Rate 9%
$889,011
Alternative Uses
Best Use
Retail
$1.14M
$1.00M – $1.33M
NOI $80,011 @ 7.0% cap · market cap 8.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.71M – $2.29M
NOI $137,162 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 96%
Shops & Services 4%
IHOP
Dining
11,374 visits/mo
0.2 miles
Circle K
Shops & Services
454 visits/mo
0.4 miles
Demographics for 28390, NC
23,799
Population
10,204
Households
2.3
Avg Household Size
31
Median Age
28%
College-Educated
93%
High-School Grad
60.2 sq mi
ZIP Area
395
Density / Sq Mi
$58,750
Median Household Income
$36,678
Median Earnings
$1,151
Median Rent
$195,200
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?
Retail space - Retail property with flexible interior space, parking, and public utilities along N Bragg Boulevard.
Where is this retail space located?
The property is located at 1530 N Bragg Boulevard Spring Lake, NC.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 8,200‑square‑foot retail building on 3.04 acres; Built in 2014 with masonry and steel construction; Broad open interior layout
