Turnkey Restaurant with
For Sale
$550,000
246 N Carolina 581, Goldsboro, NC 27530
Commercial Sale, Goldsboro, NC
Property Size3,461 SF
Lot Size0.77 Acres
Price / SF$158.91
Days on Market92
Property Features for 246 N Carolina 581
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Built-In Freezer, Built-In Gas Range, Built-In Refrigerator, Cooktop - Down, Exhaust Fan, Free-Standing Freezer, Free-Standing Refrigerator, Freezer, Gas Cooktop, Ice Maker, Refrigerator, Vented Exhaust Fan
Standard status
Active
Size
3,461 SF
Lot size
0.77 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LT 11 & PT 10 KADIS
Tax Annual Amount
1359
Legal Description
LT 11 & PT 10 KADIS
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Separate Meters, Heat Pump, Central Air, Exhaust Fan (Cooling)
Building Details
Year built
1964
Building materials
Brick Veneer, Vinyl Siding
Listing Agency:
EXP Realty LLC
(888) 584-9431
Listed By:
Sami Morteo
(919) 720-3141
Added: May 27
Changed: Aug 19
Last Checked: Aug 26 at 4:06AM
MLS# 10169929
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.
Turnkey conventional restaurant property prepared for immediate operation, with essential restaurant equipment and fixtures included. The package includes fryers, grills, an ice machine, refrigerators, a walk-in cooler and freezer, a steam table, prep stations, tables, chairs, sinks, a hood exhaust system, and a POS system.
The property also includes an attached apartment with three bedrooms, one bathroom, a living room, an eat-in kitchen, and a garage. The apartment is currently tenant-occupied on a month-to-month lease, creating an additional income-producing unit. A separate storage/flex space, formerly operated as a tanning salon, provides flexibility for expansion, retail, office use, or additional rental opportunities.
Built in 1964 and constructed with brick veneer and vinyl siding, the property sits on a 0.77-acre lot. Heating is central electric, and cooling includes central air with a heat pump, along with exhaust fan features and separate meters.
The property also includes an attached apartment with three bedrooms, one bathroom, a living room, an eat-in kitchen, and a garage. The apartment is currently tenant-occupied on a month-to-month lease, creating an additional income-producing unit. A separate storage/flex space, formerly operated as a tanning salon, provides flexibility for expansion, retail, office use, or additional rental opportunities.
Built in 1964 and constructed with brick veneer and vinyl siding, the property sits on a 0.77-acre lot. Heating is central electric, and cooling includes central air with a heat pump, along with exhaust fan features and separate meters.
Key Highlights
- Turnkey restaurant equipment and fixtures included, including walk‑in cooler and freezer and POS system
- Apartment includes three bedrooms and one bathroom; tenant‑occupied on a month‑to‑month lease
- Separate storage/flex space formerly used as a tanning salon
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
$15,444
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
2.81%
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%
$308,880
$308.9K
Cap Rate 7%
$220,629
$220.6K
Cap Rate 9%
$171,600
$171.6K
Market Conditions
NOI Build-Up for 3,461 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
$23.7K $6.84/SF
− Vacancy
−$1.6K −$0.47/SF
EGI
$22.1K $6.37/SF
− OpEx
−$6.6K −$1.91/SF
NOI
$15.4K $4.46/SF
Area
Wayne County, NC
Vacancy
6.80%
Lease Rate
$6.84 /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%
$308,880
Cap Rate 7%
$220,629
Cap Rate 9%
$171,600
Alternative Uses
Best Use
Specialty Retail
$2.78M
$2.43M – $3.25M
NOI $194,777 @ 7.0% cap · market cap 35.41%
Second Best
Flex RnD
$2.25M
$1.97M – $2.63M
NOI $157,715 @ 7.0% cap · market cap 28.68%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27530, NC
37,470
Population
17,796
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
89%
High-School Grad
106.5 sq mi
ZIP Area
352
Density / Sq Mi
$55,507
Median Household Income
$37,696
Median Earnings
$827
Median Rent
$176,500
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Turnkey restaurant with equipment plus a tenant-occupied three-bedroom apartment on a month-to-month lease.
Where is this conventional restaurant located?
The property is located at 246 N Carolina 581 Goldsboro, NC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Turnkey restaurant equipment and fixtures included, including walk‑in cooler and freezer and POS system; Apartment includes three bedrooms and one bathroom; tenant‑occupied on a month‑to‑month lease; Separate storage/flex space formerly used as a tanning salon
