Restaurant Facility with Two
For Sale
$1,100,000
2383 Hwy 58, Swansboro, NC 28584
Commercial Sale, Swansboro, NC
Property Size5,764 SF
Lot Size1.95 Acres
Price / SF$190.84
Days on Market246
Property Features for 2383 Hwy 58
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
57
Parking features
Parking Lot, Off Street
Fireplace
1
Subdivision
Not In Subdivision
Directions
Take NC-24 through Swansboro and Cedar Point and turn left on Hwy 58. Follow to 2383 Hwy 58. Property will be located on left.
Standard status
Active
APN
537703212451000
Size
5,764 SF
Lot size
1.95 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Acreage Nc Hwy 58 Peletier
Tax Annual Amount
2238
Legal Description
Acreage Nc Hwy 58 Peletier
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1971
Flooring type
Lvt/lvp, Wood
Building materials
Wood Frame
Roof type
Shingle
Listing Agency:
Better Homes and Gardens Real Estate Treasure 4
(910) 327-4444
Listed By:
John Newton · License #294169
(919) 649-0827
Added: Dec 17, 2025
Changed: Aug 20
Last Checked: Aug 20 at 2:06PM
MLS# 100545768
Copyright © 2026 Hive 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 offering combines the T&W Restaurant & Oyster Bar business with its underlying commercial property. The 5,764-square-foot restaurant facility includes seating for up to 249 guests, two full-service bars, a commercial kitchen, and parking. Wood-frame construction, LVT/LVP and wood flooring, central air conditioning, heat-pump heating, a shingle roof, and a fireplace are among the existing improvements.
The property encompasses approximately 1.95 acres at 2383 Hwy 58 in Swansboro, Carteret County, North Carolina. It is positioned along the Highway 58 corridor serving Swansboro, Cape Carteret, Pelletier, Emerald Isle, and surrounding Crystal Coast communities. Commercial zoning and a septic tank are also in place. Built in 1971, the property offers an established restaurant setting with the associated real estate and business included in the offering.
The property encompasses approximately 1.95 acres at 2383 Hwy 58 in Swansboro, Carteret County, North Carolina. It is positioned along the Highway 58 corridor serving Swansboro, Cape Carteret, Pelletier, Emerald Isle, and surrounding Crystal Coast communities. Commercial zoning and a septic tank are also in place. Built in 1971, the property offers an established restaurant setting with the associated real estate and business included in the offering.
Key Highlights
- 5,764‑square‑foot restaurant facility on approximately 1.95 acres
- Seating capacity for up to 249 guests
- Two full‑service bars and a commercial kitchen
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
$73,923
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
6.72%
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%
$1,478,460
$1.5M
Cap Rate 7%
$1,056,043
$1.1M
Cap Rate 9%
$821,367
$821.4K
Market Conditions
NOI Build-Up for 5,764 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
$103.8K $18.00/SF
− Vacancy
−$5.2K −$0.90/SF
EGI
$98.6K $17.10/SF
− OpEx
−$24.6K −$4.27/SF
NOI
$73.9K $12.83/SF
Area
Onslow County, NC
Vacancy
5.00%
Lease Rate
$18.00 /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%
$1,478,460
Cap Rate 7%
$1,056,043
Cap Rate 9%
$821,367
Alternative Uses
Best Use
Specialty Retail
$1.06M
$924.0K – $1.23M
NOI $73,923 @ 7.0% cap · market cap 6.72%
Second Best
Industrial
$431.9K
$377.9K – $503.9K
NOI $30,234 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,650 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28584, NC
13,584
Population
7,550
Households
1.8
Avg Household Size
46
Median Age
32%
College-Educated
94%
High-School Grad
33.9 sq mi
ZIP Area
401
Density / Sq Mi
$81,574
Median Household Income
$48,944
Median Earnings
$1,300
Median Rent
$308,000
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial property includes a kitchen, guest seating, parking, and central air conditioning.
Where is this conventional restaurant located?
The property is located at 2383 Hwy 58 Swansboro, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,764‑square‑foot restaurant facility on approximately 1.95 acres; Seating capacity for up to 249 guests; Two full‑service bars and a commercial kitchen
