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    Pembroke Hospitality & Entertainment Asset Title is generated by Realmo AI

    26 Commerce Drive, Pembroke, NC 28372

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    Claim this Listing
    Pending
    $4,500,000

    COMMERCIAL - Pembroke, NC

    Property size:
    12,410 SF
    Lot size:
    2.24 Acres
    Added:
    Jul 18, 2025
    Days on Market:
    307
    Last Refresh:
    May 20 at 2:06 pm

    Property Features for 26 Commerce Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-30
    Rooms
    Dining Room
    Parking
    100
    Security features
    Security
    Vegetation
    Cleared, Partially Wooded
    Interior features
    Bar, Beamed Ceilings, Built-in Features, Butler's Pantry, Cathedral Ceiling(s), Ceiling Fan(s), Chandelier, Crown Molding, Dining L, Dressing Room, Eat-in Kitchen, High Ceilings, Kitchen/Dining Room Combination, Pantry, Recessed Lighting, Smooth Ceilings, Sound System, Storage, Wet Bar, Wired for Sound
    Exterior features
    Courtyard, Garden, Lighting, Misting System, Private Yard, Rain Gutters, Smart Camera(s)/Recording, Storage, Uncovered Courtyard
    Appliances
    Bar Fridge, Built-In Gas Oven, Built-In Gas Range, Built-In Range, Built-In Refrigerator, Convection Oven, Cooktop, Dishwasher, Double Oven, Exhaust Fan, Free-Standing Freezer, Freezer, Gas Range, Ice Maker, Microwave, Range Hood, Self Cleaning Oven, Stainless Steel Appliance(s), Wine Cooler
    Standard status
    Pending
    Size
    12,410 SF
    Lot size
    2.24 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    DIST:14 CITY/MUNI/TWP:PEMBROKE SW/S HWY 711
    Tax Annual Amount
    9256

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Heating system
    Forced Air, Exhaust Fan (Heating)
    Water source
    Public, Well

    Building Details

    Year built
    2008
    Flooring type
    Varies, Hardwood, Concrete
    Building materials
    Concrete, Glass, Steel Siding, Stone
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Natalie Pearse

    Listing agent Natalie Pearse

    Listing office United Real Estate Triangle 5650 Six Forks Rd. Suite 101, Raleigh, NC

    Listing date Jul 18, 2025

    MLS# 10110283

    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.

    HighLights

    • High‑demand event space with proven revenue: Operates at only 10% potential with 30+ weddings booked annually solely from referrals, indicating significant growth opportunity.
    • Strategically located: Close proximity to I‑95, UNC Pembroke, and Fort Liberty ensures strong regional demand.
    • Durable, efficient, and expandable structure: 12,410 sq. ft. steel‑framed building on 2.24 acres, designed with expansion in mind.
    • Equipped with dual commercial kitchens and a bar: Ready for immediate use as a hospitality and entertainment venue.
    • Low operating costs: Features include double insulation and a water‑based passive cooling system for year‑round efficiency.
    • Unique architectural features: Includes a custom indoor waterfall and other high‑end finishes.

    Overview

    Located at 26 Commerce Plaza Drive in Pembroke, North Carolina, this commercial venue is a distinctive architectural property. Originally constructed as a fine dining restaurant, it was later adapted into a popular event space. The 12,410 square foot steel-framed structure is situated on 2.24 acres. Designed by a civil engineer, the building emphasizes durability, efficiency, and expansion capabilities. Features include dual commercial kitchens, a custom indoor waterfall, a reinforced flood-resistant foundation, and a solar-ready roof. The property is equipped with two full kitchens, a bar, a private electrical room, double insulation, and a water-based passive cooling system. The venue currently hosts over 30 weddings annually through referrals alone. The infrastructure supports expansion for boutique lodging, a wellness facility, or an elevated hospitality concept. Located 10 minutes from I-95, 5 minutes from UNC Pembroke, and under an hour from Fort Liberty, the venue benefits from regional demand across education, military, and healthcare sectors. This property is being offered to the market for the first time since its construction.
    Location Intelligence

    Current Use by Public Records

    Wedding venues

    Map

    City
    Pembroke
    County
    Robeson
    State
    North Carolina
    Longitude
    -79.157973
    Latitude
    34.650919

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    FAQs

    What type of property is this?
    Wedding venue - Unique venue with expansion potential in newly recognized Lumbee Territory.
    Where is this wedding venue located?
    The property is located at 26 Commerce Drive Pembroke, NC.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: High‑demand event space with proven revenue: Operates at only 10% potential with 30+ weddings booked annually solely from referrals, indicating significant growth opportunity.; Strategically located: Close proximity to I‑95, UNC Pembroke, and Fort Liberty ensures strong regional demand.; Durable, efficient, and expandable structure: 12,410 sq. ft. steel‑framed building on 2.24 acres, designed with expansion in mind.
    (919) 839-3131
    We can help!
    Listing Contact
    Natalie Pearse
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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