Event Venue with Commercial
2589 Sidney Cherry Grove Rd Clarendon, NC 28432
2589 Sidney Cherry Grove Rd, Clarendon, NC, 28432
$1,250,000
For Sale
$1,250,000
Remodeled home plus an expansive covered event space with a full commercial kitchen and guest accommodations.
Property Size3,569 SF
Price / SF$350.24
Days on Market47
Property Features for 2589 Sidney Cherry Grove Rd
General Information
- Standard status
- Active
- Size
- 3,569 SF
Listing agency
RE/MAX Southern Shores
(843) 450-4773
Listed by
Paige Bird · License #47713
(843) 450-4773
Source
Exprealty
Added: Jun 6 Updated: Jul 22 at 2:39AM Checked: Jul 22 at 2:39AM
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 RE/MAX Southern Shores
Investment Insights
Based on property information with market context.
This property includes a beautifully remodeled 1934 main home with 3 bedrooms and 2 bathrooms. Interior features include a spacious living area, a fully renovated kitchen, and a dedicated laundry room. A secondary building serves as a library and guest suite, with a loft designed to sleep four.
Behind the library, the property offers a covered venue intended for events with an open indoor-outdoor layout. The venue is described as able to accommodate up to 350 seated guests and includes bathrooms and a full commercial kitchen.
Overall, the asset combines residential living with a dedicated event setup, supported by the presence of a commercial kitchen and guest accommodations for hosted gatherings.
Behind the library, the property offers a covered venue intended for events with an open indoor-outdoor layout. The venue is described as able to accommodate up to 350 seated guests and includes bathrooms and a full commercial kitchen.
Overall, the asset combines residential living with a dedicated event setup, supported by the presence of a commercial kitchen and guest accommodations for hosted gatherings.
Key Highlights
- Remodeled 3‑bedroom, 2‑bath home built in 1934 with a spacious living area
- Fully renovated kitchen in the main house plus a dedicated laundry room
- Secondary building serves as a library and guest suite with a loft that sleeps 4
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.7k | $18.96 |
| − Vacancy | −$7.0k | −$1.97 |
| EGI | $60.6k | $16.99 |
| − OpEx | −$15.2k | −$4.25 |
| NOI | $45.5k | $12.74 |
3,569 SF · lease $18.96/SF/yr · vacancy 10.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$649.6K
$568.4K – $757.9K
NOI $45,473 @ 7.0% cap · market cap 3.64%
Second Best
Industrial
$296.8K
$259.7K – $346.3K
NOI $20,776 @ 7.0% cap · market cap 1.66%
Theoretical Best
Office A
$865.8K
$757.5K – $1.01M
NOI $60,603 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Wedding venues
FAQs
What type of property is this?
Wedding venue - Remodeled home plus an expansive covered event space with a full commercial kitchen and guest accommodations.
Where is this wedding venue located?
The property is located at 2589 Sidney Cherry Grove Rd Clarendon, NC.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Remodeled 3‑bedroom, 2‑bath home built in 1934 with a spacious living area; Fully renovated kitchen in the main house plus a dedicated laundry room; Secondary building serves as a library and guest suite with a loft that sleeps 4
