Building Details

Year Built 1965

Listing Agency: Brassfield Realty m***@brassfieldcommercial.com Show Phone

Listed By: Mark McArn · License #201561 Show Phone

Source: Xome

Added: Dec 30, 2013 Changed: Aug 15 Last Checked: Aug 21 at 4:59AM

Report an Issue

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 Brassfield Realty

Investment Insights

Based on property information with market context.

This retail property, originally built in 1965 and remodeled in 1980 and 1990, offers 2,288 square feet of space. It features 155 feet of road frontage and benefits from high visibility on US-1 and Highway 56. Traffic estimates indicate approximately 22,000 vehicles per day on US-1 and 9,500 vehicles per day on Highway 56. The property includes a built-in and covered drive-thru, a pole sign, and a dumpster enclosure. It comes fully equipped with a walk-in cooler and freezer. Recent improvements include a new curb and asphalt. Located within city limits, the property also has an ABC permit available.

Key Highlights

• Great visibility from US‑1 & Hwy 56 with high traffic counts.
• ABC Permit Available.
• Built‑in and covered drive‑thru.

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

$45,730

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

7.05%

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%

$914,600 $914.6K

Cap Rate 7%

$653,286 $653.3K

Cap Rate 9%

$508,111 $508.1K

Market Conditions

NOI Build-Up for 2,288 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

$64.5K $28.20/SF

− Vacancy

−$3.5K −$1.55/SF

EGI

$61.0K $26.65/SF

− OpEx

−$15.2K −$6.66/SF

NOI

$45.7K $19.99/SF

Area

Franklin 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%

$914,600

Cap Rate 7%

$653,286

Cap Rate 9%

$508,111

Alternative Uses

Best Use

Specialty Retail

$653.3K

$571.6K – $762.2K (±1% cap)

NOI $45,730 @ 7.0% cap · market cap 7.05%

Second Best

Retail

$580.0K

$507.5K – $676.6K (±1% cap)

NOI $40,597 @ 7.0% cap · market cap 6.26%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Building Supply Real Estate Agency HVAC Service Storage Facility Law Firm Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

211

Businesses Nearby

80k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 60% Groceries 27% Dining 14%

Food Lion Grocery Store Groceries

21,290 visits/mo 0.2 miles

Speedway Shops & Services

16,826 visits/mo 0.2 miles

Hardee's Dining

10,293 visits/mo 0.4 miles

Dollar General Shops & Services

7,961 visits/mo 0.2 miles

Dollar Tree Shops & Services

7,706 visits/mo 0.3 miles

Demographics for 27525, NC

16,684

Population

7,071

Households

2.4

Avg Household Size

40

Median Age

27%

College-Educated

91%

High-School Grad

93.8 sq mi

ZIP Area

178

Density / Sq Mi

$68,847

Median Household Income

$44,701

Median Earnings

$1,011

Median Rent

$258,300

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail space located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar For Sale Nearby

Storefront Property with Handicap-Accessible Ramp

208 E Mason Street, Franklinton, NC 27525

$350,000

2,520 SF

View details

Revitalized Franklinton Commercial Opportunity

208 E Mason, Franklinton, NC 27525

$350,000

2,520 SF

View details

Frequently Asked Questions

What type of property is this?

Retail space - Retail space with drive-thru, high visibility, and equipment.

Where is this retail space located?

The property is located at 3459 US 1 Highway Franklinton, NC.

What is the asking price?

The asking price for this property is $649,000.

What are key features of this property?

This property features: Great visibility from US‑1 & Hwy 56 with high traffic counts.; ABC Permit Available.; Built‑in and covered drive‑thru.