Downtown Retail and Office
For Sale
$999,900
Pending
202 N Main Street, Fuquay Varina, NC 27526
Two-parcel property with a 3,333 SF building, showroom spaces, offices, and private off-street parking on Main Street.
Property Size3,333 SF
Days on Market348
Property Features for 202 N Main Street
General Information
Standard status
Pending
Size
3,333 SF
Property subtype
Retail
Zoning
DC-2
Taxes and HOA fees
Annual Taxes
$3,811
Amenities
display windows
private off-street parking
abundant storage
Central Air
3
Concrete Driveway.
95.5X195.5X67.5X113
State Road, Public Roads, Asphalt.
Building Details
Year Built
1958
Stories
2
Listing Agency:
Century 21 Triangle Group
(919) 291-1991
Listed By:
Tim Matthews · License #74333
(919) 291-1991
Source:
Xome
Added: Aug 27, 2025
Changed: Aug 8
Last Checked: Jul 30 at 4:01AM
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.
202 N. Main Street is a highly visible downtown storefront and office building on two parcels at the northeast corner of N. Main Street (US 401) and E. Jones Street in Fuquay-Varina’s “Fuquay Springs” district. The property includes a primary first floor plus a fully finished walk-down basement showroom. Interior features include two large open showroom areas, four to five private offices, one full bath with a walk-in shower, two half baths, and abundant storage.
The building benefits from prominent Main Street frontage and expansive display windows, along with private off-street parking, an uncommon advantage in the downtown corridor. The business ground sign is on the adjacent property.
Flexible configurations can support a wide range of professional, commercial, and retail applications. The property is zoned DC-2 and accommodates a mix of uses including retail, office, commercial, and residential. The lower level was finished prior to 2005, and the town has no records prior to 2005 for this property. Select furnishings and appliances may be included in the sale.
The building benefits from prominent Main Street frontage and expansive display windows, along with private off-street parking, an uncommon advantage in the downtown corridor. The business ground sign is on the adjacent property.
Flexible configurations can support a wide range of professional, commercial, and retail applications. The property is zoned DC-2 and accommodates a mix of uses including retail, office, commercial, and residential. The lower level was finished prior to 2005, and the town has no records prior to 2005 for this property. Select furnishings and appliances may be included in the sale.
Key Highlights
- 2‑parcel downtown property with a 3,333 SF building
- Zoned DC‑2 and supports a broad mix of uses including retail, office, commercial, and residential
- Two large open showroom areas plus 4–5 private offices, full bath with walk‑in shower, and two half baths
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
$59,138
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
5.91%
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%
$1,182,760
$1.2M
Cap Rate 7%
$844,829
$844.8K
Cap Rate 9%
$657,089
$657.1K
Market Conditions
NOI Build-Up for 3,333 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
$90.0K $27.00/SF
− Vacancy
−$5.5K −$1.65/SF
EGI
$84.5K $25.35/SF
− OpEx
−$25.3K −$7.60/SF
NOI
$59.1K $17.74/SF
Area
Wake County, NC
Vacancy
6.12%
Lease Rate
$27.00 /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%
$1,182,760
Cap Rate 7%
$844,829
Cap Rate 9%
$657,089
Alternative Uses
Best Use
Retail
$844.8K
$739.2K – $985.6K
NOI $59,138 @ 7.0% cap · market cap 5.91%
Second Best
Office B
$730.9K
$639.5K – $852.7K
NOI $51,163 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$951.7K
$832.7K – $1.11M
NOI $66,616 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- JJ's Flowers — 112 W Vance St, Fuquay-Varina, NC 27526
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Frequently Asked Questions
What type of property is this?
Storefront property - Two-parcel property with a 3,333 SF building, showroom spaces, offices, and private off-street parking on Main Street.
Where is this storefront property located?
The property is located at 202 N Main Street Fuquay Varina, NC.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: 2‑parcel downtown property with a 3,333 SF building; Zoned DC‑2 and supports a broad mix of uses including retail, office, commercial, and residential; Two large open showroom areas plus 4–5 private offices, full bath with walk‑in shower, and two half baths
