Bar and Pub Building with Adjacent
For Sale
$400,000
Pending
2901 Nc 97 Hwy, Wendell, NC 27591
Two parcels combine for 1.08 acres and include an adjoining lot along NC 97 Hwy.
Property Size1,591 SF
Lot Size1.08 Acres
Days on Market57
Property Features for 2901 Nc 97 Hwy
General Information
Standard status
Pending
Size
1,591 SF
Lot size
1.08 Acres
Taxes and HOA fees
Annual Taxes
$1,007
Listing Agency:
Five County Specialists, LLC
(919) 880-0615
Listed By:
Kelly Straughn · License #262173
(919) 880-0615
Source:
Exprealty
Added: Jun 16
Changed: Aug 11
Last Checked: Aug 11 at 5:37AM
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 Five County Specialists, LLC
Investment Insights
Based on property information with market context.
The offering includes a bar and pub building together with the adjoining lot. The two parcels total 1.08 acres and are being sold as-is.
Located at 2901 NC 97 Hwy in Wendell, North Carolina, the property combines the building and neighboring lot in one offering.
Located at 2901 NC 97 Hwy in Wendell, North Carolina, the property combines the building and neighboring lot in one offering.
Key Highlights
- Bar and pub building included in the offering
- Adjacent lot included with the building
- Two parcels totaling 1.08 acres
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
$31,799
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
7.95%
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%
$635,980
$636.0K
Cap Rate 7%
$454,271
$454.3K
Cap Rate 9%
$353,322
$353.3K
Market Conditions
NOI Build-Up for 1,591 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
$44.9K $28.20/SF
− Vacancy
−$2.5K −$1.55/SF
EGI
$42.4K $26.65/SF
− OpEx
−$10.6K −$6.66/SF
NOI
$31.8K $19.99/SF
Area
Wake County, NC
Vacancy
5.50%
Lease Rate
$28.20 /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%
$635,980
Cap Rate 7%
$454,271
Cap Rate 9%
$353,322
Alternative Uses
Best Use
Specialty Retail
$454.3K
$397.5K – $530.0K
NOI $31,799 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27591, NC
24,677
Population
10,109
Households
2.4
Avg Household Size
38
Median Age
31%
College-Educated
88%
High-School Grad
66.6 sq mi
ZIP Area
371
Density / Sq Mi
$76,710
Median Household Income
$42,758
Median Earnings
$1,280
Median Rent
$288,100
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.
Similar Off Market Nearby
- The Lick Sports Lounge and Bar — 2901 NC-97, Wendell, NC 27591
Frequently Asked Questions
What type of property is this?
Bar & Pub - Two parcels combine for 1.08 acres and include an adjoining lot along NC 97 Hwy.
Where is this bar & pub located?
The property is located at 2901 Nc 97 Hwy Wendell, NC.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Bar and pub building included in the offering; Adjacent lot included with the building; Two parcels totaling 1.08 acres
