402-406 Harris Avenue, Raeford, NC 28376
- Added:
- Apr 1, 2026
- Days on Market:
- 92
- Last Refresh:
- Jul 1 at 12:06 am
Property Features for 402-406 Harris Avenue
General Information
- Property type
- Residential
- Property subtype
- Retail
- Standard status
- Active
- APN
- 694340901059
Taxes and HOA fees
- Tax Description
- BETHEL RD & HARRIS VALUE CHANGED BOARD OF E & R 1 RADIO SHACK/HOMETOWN INSURANCE
Utilities
- Heating system
- Heat Pump (Heating)
- Water source
- Public
Building Details
- Year built
- 1990
- Building materials
- Brick
Listing agent ANGELA ROONEY License #266012 (910) 603-8603
Listing office FREEDOM REALTY OF NC, LLC 112 N. POPLAR STREET, ABERDEEN, NC (910) 603-8603
Listing date Apr 1, 2026
Copyright © 2026 Longleaf Pine Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Approx. 5,000 SF all‑brick commercial building in downtown Raeford within city limits
- Building is divided into four separate units, suitable for office or retail uses
- Two units are currently occupied, providing immediate rental income
- Heating includes a heat pump; water source is public
- Market rents in the area are estimated at approx. $10 per SF or higher (contact agent for current rents)
Overview
The building sits within city limits in downtown Raeford, providing centralized access for prospective tenants and customers. As presented in the listing, it offers visibility and accessibility in the downtown area, along with a straightforward four-unit configuration that supports both leasing and owner occupancy.
For an investor, the current occupancy provides immediate income while leaving room to lease the remaining units. For an owner-user, the property can support occupying one or more units while collecting rent from the others. The listing also notes estimated market rents in the area at approximately $10 per square foot or higher; please contact the listing agent for current rent amounts and additional financial details.
Local Financial Insights For Office B
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 | $102.0k | $20.40 |
| − Vacancy | −$20.5k | −$4.10 |
| EGI | $81.5k | $16.30 |
| − OpEx | −$20.4k | −$4.07 |
| NOI | $61.1k | $12.22 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Raeford
- County
- Hoke
- State
- North Carolina
- Longitude
- -79.231522
- Latitude
- 34.977806
