Storefront Building with Two
New
For Sale
$500,000
2303 E Main St, Lincolnton, NC 28092
Open interior and existing restroom plumbing support a tailored commercial buildout.
Property Size3,160 SF
Price / SF$158.23
Days on Market3
Property Features for 2303 E Main St
General Information
Standard status
Active
Size
3,160 SF
Building Details
Year Built
1929
Listing Agency:
RE/MAX Lifestyle
Listed By:
Janet Cox
Source:
Lewisandkirk
Added: Sep 12
Last Checked: Sep 13 at 1:05PM
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 RE/MAX Lifestyle
Investment Insights
Based on property information with market context.
Located at 2303 E Main Street in Lincolnton, this 3,133-square-foot storefront building was constructed in 1929 and offers a largely unfinished interior for a customized buildout. Plumbing is installed for two bathrooms, and separate front access points support flexible planning for one occupant or multiple commercial users.
The property sits at a signalized intersection along an established business corridor. 2024 NCDOT counts report 27,500+ average annual daily traffic, while on-site unmarked parking serves the building. The space is identified as suitable for retail, food service, professional office, fitness or wellness, creative studio, and service-oriented uses.
The property sits at a signalized intersection along an established business corridor. 2024 NCDOT counts report 27,500+ average annual daily traffic, while on-site unmarked parking serves the building. The space is identified as suitable for retail, food service, professional office, fitness or wellness, creative studio, and service-oriented uses.
Key Highlights
- 3,133 SF storefront building at 2303 E Main Street, Lincolnton, NC 28092
- 27,500+ average annual daily traffic based on 2024 NCDOT counts
- Signalized intersection within an established Lincolnton business corridor
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
$38,794
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
7.76%
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%
$775,880
$775.9K
Cap Rate 7%
$554,200
$554.2K
Cap Rate 9%
$431,044
$431.0K
Market Conditions
NOI Build-Up for 3,160 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
$59.9K $18.96/SF
− Vacancy
−$4.5K −$1.42/SF
EGI
$55.4K $17.54/SF
− OpEx
−$16.6K −$5.26/SF
NOI
$38.8K $12.28/SF
Area
Lincoln County, NC
Vacancy
7.50%
Lease Rate
$18.96 /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%
$775,880
Cap Rate 7%
$554,200
Cap Rate 9%
$431,044
Alternative Uses
Best Use
Retail
$554.2K
$484.9K – $646.6K
NOI $38,794 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$994.6K
$870.3K – $1.16M
NOI $69,621 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28092, NC
38,719
Population
17,332
Households
2.2
Avg Household Size
43
Median Age
20%
College-Educated
87%
High-School Grad
119.9 sq mi
ZIP Area
323
Density / Sq Mi
$62,625
Median Household Income
$41,155
Median Earnings
$937
Median Rent
$220,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Open interior and existing restroom plumbing support a tailored commercial buildout.
Where is this storefront property located?
The property is located at 2303 E Main St Lincolnton, 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: 3,133 SF storefront building at 2303 E Main Street, Lincolnton, NC 28092; 27,500+ average annual daily traffic based on 2024 NCDOT counts; Signalized intersection within an established Lincolnton business corridor
