Single-Bay Auto Shop with
For Sale
$275,000
219 E Main St, Fremont, NC 27830
Commercial layout combines an automotive service area with an adjoining office building.
Property Size1,440 SF
Price / SF$190.97
Days on Market19
Property Features for 219 E Main St
General Information
Standard status
Active
Size
1,440 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Service Bays
1
Building Details
Year Built
1950
Listing Agency:
Fathom Realty NC, LLC
(919) 514-7365
Listed By:
Melvin Ray Rogers
Source:
Tcrnc
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 29 at 11:19AM
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 Fathom Realty NC, LLC
Investment Insights
Based on property information with market context.
This 1,440-square-foot automotive property combines a one-bay mechanic shop with an adjoining office building. Built in 1950, the configuration provides dedicated space for vehicle service and administrative functions in one commercial asset. The layout is suited to automotive operations including repair, inspections, tires, detailing, or vehicle sales, as described for the property.
The property is located at 219 E Main St in Fremont, NC, along the Main Street corridor. Its position provides road frontage and access to Goldsboro, Wilson, Smithfield, Kenly, and I-795. The site serves as a commercial base for an automotive business seeking both service-area functionality and office space.
The property is located at 219 E Main St in Fremont, NC, along the Main Street corridor. Its position provides road frontage and access to Goldsboro, Wilson, Smithfield, Kenly, and I-795. The site serves as a commercial base for an automotive business seeking both service-area functionality and office space.
Key Highlights
- 1,440 SF automotive property with an adjoining office building
- One‑bay mechanic shop configuration
- Built in 1950
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
$18,756
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
6.82%
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%
$375,120
$375.1K
Cap Rate 7%
$267,943
$267.9K
Cap Rate 9%
$208,400
$208.4K
Market Conditions
NOI Build-Up for 1,440 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
$31.1K $21.60/SF
− Vacancy
−$6.1K −$4.23/SF
EGI
$25.0K $17.37/SF
− OpEx
−$6.3K −$4.34/SF
NOI
$18.8K $13.02/SF
Area
Wayne County, NC
Vacancy
19.60%
Lease Rate
$21.60 /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%
$375,120
Cap Rate 7%
$267,943
Cap Rate 9%
$208,400
Alternative Uses
Best Use
Office B
$267.9K
$234.5K – $312.6K
NOI $18,756 @ 7.0% cap · market cap 6.82%
Second Best
Retail
$252.5K
$220.9K – $294.5K
NOI $17,672 @ 7.0% cap · market cap 6.43%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,040 @ 7.0% cap · market cap 29.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
124
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27830, NC
4,377
Population
2,083
Households
2.1
Avg Household Size
46
Median Age
18%
College-Educated
82%
High-School Grad
58.3 sq mi
ZIP Area
75
Density / Sq Mi
$51,115
Median Household Income
$38,085
Median Earnings
$807
Median Rent
$159,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Versare Automotive — 103 S Wilson St, Fremont, NC 27830
- Aerogel Towings LLC — 204 S Goldsboro St, Fremont, NC 27830
- Drill Towings LLC — 206 W South St, Fremont, NC 27830
- Bill Edmundson Garage — Fremont, NC 27830
- RP Towing LLC
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial layout combines an automotive service area with an adjoining office building.
Where is this auto shop located?
The property is located at 219 E Main St Fremont, NC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,440 SF automotive property with an adjoining office building; One‑bay mechanic shop configuration; Built in 1950
