Revitalized Franklinton Commercial
For Sale
$350,000
Pending
208 E Mason, Franklinton, NC 27525
2,520 sqft building near downtown Franklinton with income potential.
Property Size2,520 SF
Lot Size0.20 Acres
Days on Market150
Property Features for 208 E Mason
General Information
Standard status
Pending
Size
2,520 SF
Lot size
0.20 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,264
Amenities
Central air
Accessible Approach with Ramp
Accessible Common Area
Accessible Entrance
Accessible Full Bath
Central Air Cooling
City Lot
Concrete Flooring
Corner
Forced Air Heating
Gas Pack Heating
Laundry Closet
Level Flooring
Luxury Vinyl Flooring
Open Lot
Rain Gutters
Vinyl Flooring
Building Details
Year Built
1949
Listing Agency:
PREMIER ADVANTAGE REALTY INC
(919) 728-1212
Listed By:
WALLACE PEIFFER
Source:
Corcoran
Added: Mar 19
Changed: Aug 8
Last Checked: Jul 23 at 7:57AM
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 PREMIER ADVANTAGE REALTY INC
Investment Insights
Based on property information with market context.
This 2,520 sqft commercial building is located one block from the revitalized downtown Franklinton and its Social District. The walkable location is surrounded by destinations such as Franko's, The Owl's Roost, Toro's, Bleachers, and Curtsy's, as well as coffee shops and boutique shopping. The building includes approximately 600 sqft of unfinished warehouse/storage space and offers income potential. Currently leased spaces include a hair salon, nail studio, massage suite, and esthetician. Features include a rear handicap-accessible ramp from the main parking area. Recent upgrades include a gas pack/AC unit, windows, electrical, lighting, HVAC ductwork, and water heater. This property represents a strong investment in a growing area.
Key Highlights
- Prime location: One block from revitalized downtown Franklinton and its Social District.
- Strong income potential: Currently leased spaces include a hair salon, nail studio, massage suite, and esthetician.
- Sizeable commercial space: 2,520 sqft building with approximately 600 sqft of unfinished warehouse/storage space.
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
$19,585
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
5.60%
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%
$391,700
$391.7K
Cap Rate 7%
$279,786
$279.8K
Cap Rate 9%
$217,611
$217.6K
Market Conditions
NOI Build-Up for 2,520 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
$24.8K $9.84/SF
− Vacancy
−$1.8K −$0.70/SF
EGI
$23.0K $9.14/SF
− OpEx
−$3.5K −$1.37/SF
NOI
$19.6K $7.77/SF
Area
Franklin County, NC
Vacancy
7.08%
Lease Rate
$9.84 /SF/Yr
Expense Ratio
15.00%
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%
$391,700
Cap Rate 7%
$279,786
Cap Rate 9%
$217,611
Alternative Uses
Best Use
Retail
$638.8K
$558.9K – $745.2K
NOI $44,713 @ 7.0% cap · market cap 12.78%
Second Best
Warehouse
$279.8K
$244.8K – $326.4K
NOI $19,585 @ 7.0% cap · market cap 5.60%
Theoretical Best
Specialty Retail
$719.5K
$629.6K – $839.5K
NOI $50,367 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 27525, NC
16,684
Population
7,071
Households
2.4
Avg Household Size
40
Median Age
27%
College-Educated
91%
High-School Grad
93.8 sq mi
ZIP Area
178
Density / Sq Mi
$68,847
Median Household Income
$44,701
Median Earnings
$1,011
Median Rent
$258,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 2,520 sqft building near downtown Franklinton with income potential.
Where is this retail space located?
The property is located at 208 E Mason Franklinton, NC.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Prime location: One block from revitalized downtown Franklinton and its Social District.; Strong income potential: Currently leased spaces include a hair salon, nail studio, massage suite, and esthetician.; Sizeable commercial space: 2,520 sqft building with approximately 600 sqft of unfinished warehouse/storage space.
