Restaurant Building with Walk-In
For Sale
$950,000
2405 Neuse Boulevard, New Bern, NC 28562
The commercial-zoned property includes natural gas service and on-site asphalt parking.
Property Size2,847 SF
Days on Market10
Property Features for 2405 Neuse Boulevard
General Information
Standard status
Active
Size
2,847 SF
Zoning
COMMERCIAL
Additional Details
Utilities to Site
Yes
Amenities
No
Yes
Natural Gas
Open Lot
Public
1.46
160 x 400
Stucco
Parking Lot,Asphalt,On Site
Slab
City Street,State Road,4+ Lanes
2847.0
Building Details
Building Size
2,847 SF
Year Built
1975
Buildings
1
Listing Agency:
PRIME REALTY NC, LLC
Listed By:
Sonja Badger · License #228835
(252) 617-0861
Source:
Hurtrealtyllc
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 2:58PM
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 PRIME REALTY NC, LLC
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Investment Insights
Based on property information with market context.
Configured for restaurant use, the building includes a walk-in refrigerator and a separate walk-in freezer, plus a tankless water heater and a natural gas connection. The property was built in 1975 and has a stucco exterior and slab foundation. On-site parking is provided on an asphalt lot.
The site covers 1.46 acres, with listed dimensions of 160 x 400. It is situated along a city street and state road, including a road with 4+ lanes. A major hospital and key employers are described as a few minutes away.
The site covers 1.46 acres, with listed dimensions of 160 x 400. It is situated along a city street and state road, including a road with 4+ lanes. A major hospital and key employers are described as a few minutes away.
Key Highlights
- 1.46‑acre site with listed dimensions of 160 x 400
- Restaurant building with walk‑in refrigerator and walk‑in freezer
- Natural gas connection and tankless water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,820
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$736,400
$736.4K
Cap Rate 7%
$526,000
$526.0K
Cap Rate 9%
$409,111
$409.1K
Market Conditions
NOI Build-Up for 2,847 SF
Gross rent
$51.2K $18.00/SF
− Vacancy
−$2.2K −$0.76/SF
EGI
$49.1K $17.24/SF
− OpEx
−$12.3K −$4.31/SF
NOI
$36.8K $12.93/SF
Area
Craven County, NC
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$736,400
Cap Rate 7%
$526,000
Cap Rate 9%
$409,111
Alternative Uses
Best Use
Specialty Retail
$526.0K
$460.3K – $613.7K
NOI $36,820 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$938.6K
$821.3K – $1.10M
NOI $65,705 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28562, NC
39,375
Population
18,812
Households
2.1
Avg Household Size
45
Median Age
33%
College-Educated
93%
High-School Grad
151.7 sq mi
ZIP Area
260
Density / Sq Mi
$74,620
Median Household Income
$40,215
Median Earnings
$1,131
Median Rent
$246,400
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
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The commercial-zoned property includes natural gas service and on-site asphalt parking.
Where is this conventional restaurant located?
The property is located at 2405 Neuse Boulevard New Bern, NC.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1.46‑acre site with listed dimensions of 160 x 400; Restaurant building with walk‑in refrigerator and walk‑in freezer; Natural gas connection and tankless water heater
