Drive-Through Restaurant with
For Sale
$2,200,000
Pending
2470 Gum Branch Road, Jacksonville, NC 28546
COMMERCIAL - Jacksonville, NC
Property Size5,863 SF
Lot Size1.69 Acres
Days on Market588
Property Features for 2470 Gum Branch Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CC
Subdivision
Not In Subdivision
Directions
Western Blvd to Gum Branch Rd, turn Right, restaurant is on the right past CVS Pharmacy at the corner of the entrance to River of Life Church.
Standard status
Pending
APN
338-30.4
Size
5,863 SF
Lot size
1.69 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
L1 RIVER OF LIFE
Legal Description
L1 RIVER OF LIFE
Utilities
Heating system
Electric (Heating)
Building Details
Year built
2020
Flooring type
Tile
Building materials
Brick, Brick/Stone
Listing Agency:
Ray Properties, INC
(910) 346-8218
Listed By:
Matt C Ray · License #266827
(910) 388-6620
Added: Jan 9, 2025
Changed: Aug 19
Last Checked: Aug 20 at 2:06PM
MLS# 100482785
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 5,863-square-foot drive-through restaurant was finished in 2021 and includes a dedicated lane designed for drive-through service. The building features brick and brick/stone construction, tile flooring, and electric heating. The property is zoned CC and includes cross-access supporting ingress and egress.
The restaurant fronts Gum Branch Road and sits seconds from Western Blvd, placing the site near a heavily traveled commercial area. More than 1,500 new homes are planned within a 3-mile radius. A 5-year lease is in place beginning January 1, 2026, with one 5-year renewal option. The reported cap rate is 6%.
The restaurant fronts Gum Branch Road and sits seconds from Western Blvd, placing the site near a heavily traveled commercial area. More than 1,500 new homes are planned within a 3-mile radius. A 5-year lease is in place beginning January 1, 2026, with one 5-year renewal option. The reported cap rate is 6%.
Key Highlights
- 5,863 SF drive‑through restaurant finished in 2021
- Dedicated drive‑through lane with cross‑access for ingress and egress
- 5‑year lease beginning January 1, 2026, plus one 5‑year renewal option
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
$75,193
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
3.42%
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%
$1,503,860
$1.5M
Cap Rate 7%
$1,074,186
$1.1M
Cap Rate 9%
$835,478
$835.5K
Market Conditions
NOI Build-Up for 5,863 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
$105.5K $18.00/SF
− Vacancy
−$5.3K −$0.90/SF
EGI
$100.3K $17.10/SF
− OpEx
−$25.1K −$4.27/SF
NOI
$75.2K $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%
$1,503,860
Cap Rate 7%
$1,074,186
Cap Rate 9%
$835,478
Alternative Uses
Best Use
Specialty Retail
$1.07M
$939.9K – $1.25M
NOI $75,193 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,155 @ 7.0% cap · market cap 4.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
169k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Groceries 28%
Shops & Services 17%
Beauty & Spa 2%
McDonald's
Dining
28,666 visits/mo
0.2 miles
Lowes Foods
Groceries
25,639 visits/mo
0.2 miles
Food Lion Grocery Store
Groceries
21,301 visits/mo
0.4 miles
Wendy's
Dining
18,701 visits/mo
0.3 miles
Dunkin' Donuts
Dining
13,470 visits/mo
0.1 miles
Demographics for 28546, NC
48,547
Population
21,387
Households
2.3
Avg Household Size
30
Median Age
25%
College-Educated
95%
High-School Grad
103.9 sq mi
ZIP Area
467
Density / Sq Mi
$60,552
Median Household Income
$39,487
Median Earnings
$1,174
Median Rent
$212,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Established drive-through restaurant with dedicated service lane, brick construction, and access from Gum Branch Road.
Where is this drive through restaurant located?
The property is located at 2470 Gum Branch Road Jacksonville, NC.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 5,863 SF drive‑through restaurant finished in 2021; Dedicated drive‑through lane with cross‑access for ingress and egress; 5‑year lease beginning January 1, 2026, plus one 5‑year renewal option
