Updated Restaurant with Kitchen
For Sale
$650,000
2146 Nc 102 E, Ayden, NC 28513
Commercial Sale, Ayden, NC
Property Size2,222 SF
Lot Size1.59 Acres
Price / SF$292.53
Days on Market272
Property Features for 2146 Nc 102 E
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Parking
40
Subdivision
Not In Subdivision
Lot features
Corner Lot
Directions
Take County Home Rd to NC Hwy 102 Grill at the corner of the intersection, or take NC Hwy 102 E out of Ayden and Grill at the intersection with County Home Rd
Standard status
Active
APN
91018
Size
2,222 SF
Lot size
1.59 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
102 GRILL
Legal Description
102 GRILL
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1968
Flooring type
Concrete
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Tyre Realty Group Inc.
(252) 758-4663
Listed By:
Homer Tyre · License #209081
(252) 327-0514
Added: Jan 5
Changed: Sep 12
Last Checked: Oct 4 at 10:06AM
MLS# 100547514
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 2,222-square-foot restaurant property occupies a 1.59-acre corner lot and includes kitchen equipment and furnishings. The building has a wood-frame structure with vinyl siding, concrete flooring, a shingle roof, central air, and electric heat pump service. Improvements completed in 2021 included a new septic system, kitchen equipment, siding, windows and doors, and HVAC components.
The facility is approved by the health department for 75 seats and provides 40 parking spaces. Public water is available, with a septic tank serving the property. GC zoning supports the existing restaurant use, while the site includes room for expansion. Constructed in 1968, the property is located in Ayden, North Carolina.
The facility is approved by the health department for 75 seats and provides 40 parking spaces. Public water is available, with a septic tank serving the property. GC zoning supports the existing restaurant use, while the site includes room for expansion. Constructed in 1968, the property is located in Ayden, North Carolina.
Key Highlights
- 1.59‑acre corner lot with room for expansion
- 2,222‑square‑foot restaurant building
- Health department approval for 75 seats
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
$28,737
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
4.42%
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%
$574,740
$574.7K
Cap Rate 7%
$410,529
$410.5K
Cap Rate 9%
$319,300
$319.3K
Market Conditions
NOI Build-Up for 2,222 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
$40.0K $18.00/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$38.3K $17.24/SF
− OpEx
−$9.6K −$4.31/SF
NOI
$28.7K $12.93/SF
Area
Pitt County, NC
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$574,740
Cap Rate 7%
$410,529
Cap Rate 9%
$319,300
Alternative Uses
Best Use
Specialty Retail
$410.5K
$359.2K – $479.0K
NOI $28,737 @ 7.0% cap · market cap 4.42%
Second Best
Retail
$269.0K
$235.3K – $313.8K
NOI $18,827 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$483.7K
$423.2K – $564.3K
NOI $33,859 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28513, NC
10,006
Population
4,855
Households
2.1
Avg Household Size
42
Median Age
21%
College-Educated
89%
High-School Grad
88.9 sq mi
ZIP Area
113
Density / Sq Mi
$54,534
Median Household Income
$38,818
Median Earnings
$778
Median Rent
$150,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant on a corner parcel with GC zoning, public water, and septic service.
Where is this conventional restaurant located?
The property is located at 2146 Nc 102 E Ayden, NC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1.59‑acre corner lot with room for expansion; 2,222‑square‑foot restaurant building; Health department approval for 75 seats
