Established Restaurant Near Interstate
218 S Main Street Grover, NC 28073
For Sale
$800,000
Well-established restaurant with growth potential near I-85.
Property Size2,500 SF
Price / SF$320
Days on Market306
Property Features for 218 S Main Street
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Building Details
Year Built
2004
Listing Agency:
JOLLY REALTY GROUP LLC
(704) 830-6737
Listed By:
JONI SMITH
Source:
Corcoran
Added: Sep 26, 2025
Changed: Jul 6
Last Checked: Jul 27 at 7:39AM
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
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 For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.0k | $18.00 |
| − Vacancy | −$2.9k | −$1.15 |
| EGI | $42.1k | $16.85 |
| − OpEx | −$10.5k | −$4.21 |
| NOI | $31.6k | $12.64 |
2,500 SF · lease $18.00/SF/yr · vacancy 6.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$451.3K
$394.9K – $526.5K
NOI $31,590 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$634.9K
$555.5K – $740.7K
NOI $44,442 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
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 $800,000.
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
