Restaurant/Bar Corner
For Sale
Contact for pricing
2311 Timber Drive, Garner, NC 27529
Restaurant/bar property positioned at a signalized corner intersection for straightforward customer access.
Property Size10,600 SF
Price / SF$344.15
Days on Market59
Property Features for 2311 Timber Drive
General Information
Standard status
Active
Size
10,600 SF
Total Parking Spaces
80
Property subtype
Special Purpose
Zoning
Commercial
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$231,658
Building Details
Year Built
1996
Buildings
1
Units
80
Tenancy
Single
Listing Agency:
Berkeley Capital Advisors Charlotte
Listed By:
Al Dickens · License #NC 317771
Source:
Crexi
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 8 at 1:37PM
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 Berkeley Capital Advisors Charlotte
Investment Insights
Based on property information with market context.
This for-sale restaurant/bar corner property is positioned for visibility and easy wayfinding at a signalized intersection. The offering is suited to operators looking for a commercial location built around on-demand street access.
The property sits on a prime corner at a signalized intersection, with the surrounding area described as affluent in the available remarks. No additional details are provided regarding unit mix, building configuration, or specific site improvements.
For tenants or buyers, the signalized corner location can support customer traffic patterns by allowing convenient turns and consistent access from multiple directions. Interested parties should review the property details in full to confirm the existing layout and operational suitability for a restaurant or bar concept, including any site-specific considerations that affect buildout, parking, and ingress/egress.
The property sits on a prime corner at a signalized intersection, with the surrounding area described as affluent in the available remarks. No additional details are provided regarding unit mix, building configuration, or specific site improvements.
For tenants or buyers, the signalized corner location can support customer traffic patterns by allowing convenient turns and consistent access from multiple directions. Interested parties should review the property details in full to confirm the existing layout and operational suitability for a restaurant or bar concept, including any site-specific considerations that affect buildout, parking, and ingress/egress.
Key Highlights
- Restaurant/bar property positioned at a signalized corner intersection for straightforward customer access
- Year built: 1996
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
$211,860
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
5.81%
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%
$4,237,200
$4.2M
Cap Rate 7%
$3,026,571
$3.0M
Cap Rate 9%
$2,354,000
$2.4M
Market Conditions
NOI Build-Up for 10,600 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
$298.9K $28.20/SF
− Vacancy
−$16.4K −$1.55/SF
EGI
$282.5K $26.65/SF
− OpEx
−$70.6K −$6.66/SF
NOI
$211.9K $19.99/SF
Area
Wake County, NC
Vacancy
5.50%
Lease Rate
$28.20 /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%
$4,237,200
Cap Rate 7%
$3,026,571
Cap Rate 9%
$2,354,000
Alternative Uses
Best Use
Specialty Retail
$3.03M
$2.65M – $3.53M
NOI $211,860 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27529, NC
54,250
Population
22,089
Households
2.5
Avg Household Size
39
Median Age
41%
College-Educated
93%
High-School Grad
57.7 sq mi
ZIP Area
940
Density / Sq Mi
$86,426
Median Household Income
$47,686
Median Earnings
$1,379
Median Rent
$325,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Lorraine's Coffee House & Music — 101 Timber Pointe Ln, Garner, NC 27529
Frequently Asked Questions
What type of property is this?
Bar & Pub - Restaurant/bar property positioned at a signalized corner intersection for straightforward customer access.
Where is this bar & pub located?
The property is located at 2311 Timber Drive Garner, NC.
What is the asking price?
The asking price for this property is $3,648,000.
What are key features of this property?
This property features: Restaurant/bar property positioned at a signalized corner intersection for straightforward customer access; Year built: 1996
