Auto Shop With Drive-In
New
For Sale
$250,000
2300 Lee Avenue, Sanford, NC 27330
Commercial Sale, Sanford, NC
Property Size3,136 SF
Lot Size0.24 Acres
Price / SF$79.72
Days on Market1
Property Features for 2300 Lee Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Lot features
Corner Lot
Standard status
Active
APN
965241354800
Size
3,136 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
2300 Lee Av Sr 1133
Tax Annual Amount
1047
Legal Description
2300 Lee Av Sr 1133
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
drive-in roll-up doors
office
restroom
Building Details
Year built
1950
Floors in Building
1
Flooring type
Concrete
Building materials
Brick
Roof type
Shingle
Listing Agency:
Harris Realty & Auction
(919) 742-3286
Listed By:
Scott Harris · License #159569
(919) 498-4077
Added: Sep 1
Last Checked: Sep 1 at 4:06PM
MLS# 10189934
Copyright © 2026 Doorify 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 approximately 3,136-square-foot auto shop occupies a 0.24-acre parcel and includes a functional service layout with office and restroom areas. The brick building has concrete flooring, an approximately 11-foot ceiling, two drive-in roll-up doors measuring approximately 11' x 8' and 11' x 11', two chain hoists, and a 175 PSI, 80-gallon air compressor. Constructed in 1950, the property has a shingle roof and is connected to public water and public sewer.
The site is located at 2300 Lee Avenue in Sanford, North Carolina, with an NCDOT daily traffic count of approximately 5,200 vehicles in 2024. C-2 zoning is reported. The property is offered AS IS, and one or more underground petroleum storage tanks are believed to remain. No Phase I Environmental Site Assessment, tank inspection, closure report, soil testing, or groundwater testing has been provided; buyers should complete independent environmental, zoning, regulatory, and condition due diligence.
The site is located at 2300 Lee Avenue in Sanford, North Carolina, with an NCDOT daily traffic count of approximately 5,200 vehicles in 2024. C-2 zoning is reported. The property is offered AS IS, and one or more underground petroleum storage tanks are believed to remain. No Phase I Environmental Site Assessment, tank inspection, closure report, soil testing, or groundwater testing has been provided; buyers should complete independent environmental, zoning, regulatory, and condition due diligence.
Key Highlights
- Approximately 3,136 SF auto shop on a 0.24‑acre lot
- Two drive‑in roll‑up doors: approximately 11' x 8' and 11' x 11'
- Approximately 11‑foot ceiling with two chain hoists
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
$16,629
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
6.65%
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%
$332,580
$332.6K
Cap Rate 7%
$237,557
$237.6K
Cap Rate 9%
$184,767
$184.8K
Market Conditions
NOI Build-Up for 3,136 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
$24.5K $7.80/SF
− Vacancy
−$704 −$0.22/SF
EGI
$23.8K $7.58/SF
− OpEx
−$7.1K −$2.27/SF
NOI
$16.6K $5.30/SF
Area
Lee County, NC
Vacancy
2.88%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
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%
$332,580
Cap Rate 7%
$237,557
Cap Rate 9%
$184,767
Alternative Uses
Best Use
Retail
$530.9K
$464.6K – $619.4K
NOI $37,165 @ 7.0% cap · market cap 14.87%
Second Best
Industrial
$237.6K
$207.9K – $277.2K
NOI $16,629 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$762.5K
$667.2K – $889.6K
NOI $53,377 @ 7.0% cap · market cap 21.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5,200 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
710
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27330, NC
39,489
Population
17,026
Households
2.3
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
210.7 sq mi
ZIP Area
187
Density / Sq Mi
$60,726
Median Household Income
$37,477
Median Earnings
$966
Median Rent
$213,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- GT Auto Services — 2930 Industrial Dr, Sanford, NC 27332
- In & Out — 228 W Seawell St, Sanford, NC 27332
- L.A Custom Mufflers State Inpection & Tires — 2802 Industrial Dr, Sanford, NC 27332
- Sanford Transmissions and Automotive — 2840 Lee Ave, Sanford, NC 27332
- GB's Auto Service — 2820 Lee Ave, Sanford, NC 27332
Frequently Asked Questions
What type of property is this?
Auto shop - Brick automotive-service building with office space, equipment, and public water and sewer connections.
Where is this auto shop located?
The property is located at 2300 Lee Avenue Sanford, NC.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Approximately 3,136 SF auto shop on a 0.24‑acre lot; Two drive‑in roll‑up doors: approximately 11' x 8' and 11' x 11'; Approximately 11‑foot ceiling with two chain hoists
