Retail Property Near Downtown
For Sale
$749,000
287 N Caldwell Street, Brevard, NC 28712
2500+ sq ft retail building with 10 parking spaces.
Property Size2,575 SF
Price / SF$290.87
Days on Market422
Property Features for 287 N Caldwell Street
General Information
Standard status
Active
Size
2,575 SF
Property subtype
Commercial
Amenities
Central air
Central Air Cooling
Concrete Flooring
Parking Lot
Paved
Building Details
Year Built
1957
Listing Agency:
FISHER REALTY,SAPPHIRE/TOXAWAY
(828) 966-9290
Listed By:
AMANDA JENNINGS GRAVLEY · License #276630
Source:
Corcoran
Added: Jun 25, 2025
Changed: Aug 18
Last Checked: Aug 20 at 6:52AM
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 FISHER REALTY,SAPPHIRE/TOXAWAY
Investment Insights
Based on property information with market context.
This well-maintained commercial property, approximately three blocks from Main Street in Brevard, North Carolina, offers a total area of over 2,500 square feet. The property includes 10 dedicated parking spaces. Currently operating as a salon, the flexible layout is suitable for various business uses, allowing for customization to suit different visions. The property benefits from high visibility, walkability, and close proximity to downtown shops, dining, and attractions, making it an ideal investment for entrepreneurs and investors. This property offers a combination of size, location, and parking.
Key Highlights
- Prime location: Just three blocks from Main Street in Brevard, NC.
- Dedicated parking: Features 10 parking spaces, a rare asset in the area.
- Sizeable building: Over 2,500 sq ft of space.
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
$31,601
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
4.22%
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%
$632,020
$632.0K
Cap Rate 7%
$451,443
$451.4K
Cap Rate 9%
$351,122
$351.1K
Market Conditions
NOI Build-Up for 2,575 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
$46.4K $18.00/SF
− Vacancy
−$1.2K −$0.47/SF
EGI
$45.1K $17.53/SF
− OpEx
−$13.5K −$5.26/SF
NOI
$31.6K $12.27/SF
Area
Transylvania County, NC
Vacancy
2.60%
Lease Rate
$18.00 /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%
$632,020
Cap Rate 7%
$451,443
Cap Rate 9%
$351,122
Alternative Uses
Best Use
Retail
$451.4K
$395.0K – $526.7K
NOI $31,601 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$758.4K
$663.6K – $884.8K
NOI $53,086 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,138
Businesses Nearby
41k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 100%
Ingles
Groceries
40,673 visits/mo
0.4 miles
Demographics for 28712, NC
18,928
Population
10,714
Households
1.8
Avg Household Size
52
Median Age
40%
College-Educated
94%
High-School Grad
116.2 sq mi
ZIP Area
163
Density / Sq Mi
$61,560
Median Household Income
$34,583
Median Earnings
$939
Median Rent
$372,900
Median Home Value
Market
Vacancy Rate% for Retail 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?
Retail space - 2500+ sq ft retail building with 10 parking spaces.
Where is this retail space located?
The property is located at 287 N Caldwell Street Brevard, NC.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Prime location: Just three blocks from Main Street in Brevard, NC.; Dedicated parking: Features 10 parking spaces, a rare asset in the area.; Sizeable building: Over 2,500 sq ft of space.
