Established Restaurant Near Interstate
For Sale
$500,000
218 S Main Street, Grover, NC 28073
Well-established restaurant with growth potential near I-85.
Property Size2,500 SF
Price / SF$200
Days on Market398
Property Features for 218 S Main Street
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Amenities
Corner Lot
Building Details
Year Built
2004
Listing Agency:
JOLLY REALTY GROUP LLC
(704) 830-6737
Listed By:
JONI SMITH · License #176526
(704) 730-9991
Source:
Corcoran
Added: Sep 26, 2025
Changed: Oct 27
Last Checked: Oct 26 at 4:54PM
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 JOLLY REALTY GROUP LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is an opportunity to own a well-established restaurant with a strong reputation in the community. The restaurant currently offers breakfast, lunch, and dinner. The location is positioned just off Interstate I-85, near truck stops and approximately two exits from the new 2 Kings Casino. The property is approximately 2500 square feet. The restaurant is the only home-style meal restaurant in the area. The owner is retiring and seeking a hands-on owner-operator to continue and expand the business. The area's new growth and housing developments present potential for sales growth with new energy and marketing strategies.
Key Highlights
- Well‑established restaurant with a great reputation in the community
- Prime location directly off I‑85 interstate exit**
- Only home‑style meal restaurant in the area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,590
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$631,800
$631.8K
Cap Rate 7%
$451,286
$451.3K
Cap Rate 9%
$351,000
$351.0K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$45.0K $18.00/SF
− Vacancy
−$2.9K −$1.15/SF
EGI
$42.1K $16.85/SF
− OpEx
−$10.5K −$4.21/SF
NOI
$31.6K $12.64/SF
Area
Cleveland County, NC
Vacancy
6.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$631,800
Cap Rate 7%
$451,286
Cap Rate 9%
$351,000
Alternative Uses
Best Use
Specialty Retail
$451.3K
$394.9K – $526.5K
NOI $31,590 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$634.9K
$555.5K – $740.7K
NOI $44,442 @ 7.0% cap · market cap 8.89%
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
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28073, NC
5,356
Population
2,664
Households
2
Avg Household Size
42
Median Age
12%
College-Educated
87%
High-School Grad
25.7 sq mi
ZIP Area
208
Density / Sq Mi
$55,466
Median Household Income
$32,426
Median Earnings
$870
Median Rent
$125,800
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
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Well-established restaurant with growth potential near I-85.
Where is this conventional restaurant located?
The property is located at 218 S Main Street Grover, NC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Well‑established restaurant with a great reputation in the community; Prime location directly off I‑85 interstate exit**; Only home‑style meal restaurant in the area
