Four-Unit Mixed-Use Brick
For Sale
$650,000
402-406b Harris Avenue, Raeford, NC 28376
Commercial zoning and a four-suite layout support office or retail occupancy, with two units currently leased.
Property Size5,000 SF
Price / SF$130
Days on Market12
Property Features for 402-406b Harris Avenue
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Zoning
commercial
Additional Details
Office Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$1,887
Building Details
Building Size
5,000 SF
Year Built
1990
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Freedom Realty of NC, LLC
Listed By:
Angela Rooney · License #266012
(910) 603-8603
Source:
Eddymyers
Added: Oct 20
Changed: Oct 25
Last Checked: Oct 29 at 6:35PM
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 Freedom Realty of NC, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1990 brick mixed-use property contains approximately 5,000 square feet arranged as four separate units. Commercial zoning supports office or retail use, and two units are currently occupied, while the other two are available for leasing or occupancy by an owner-user.
The building is in downtown Raeford, within city limits, at 402-406b Harris Avenue. Its location provides access to the downtown area.
The building is in downtown Raeford, within city limits, at 402-406b Harris Avenue. Its location provides access to the downtown area.
Key Highlights
- Approximately 5,000 square feet in an all‑brick building
- Four separate units; two are currently occupied
- Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,400
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,000
$1.2M
Cap Rate 7%
$848,571
$848.6K
Cap Rate 9%
$660,000
$660.0K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$108.0K $21.60/SF
− Vacancy
−$13.0K −$2.59/SF
EGI
$95.0K $19.01/SF
− OpEx
−$35.6K −$7.13/SF
NOI
$59.4K $11.88/SF
Area
Hoke County, NC
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,000
Cap Rate 7%
$848,571
Cap Rate 9%
$660,000
Alternative Uses
Best Use
Mixed Use
$848.6K
$742.5K – $990.0K
NOI $59,400 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$958.8K – $1.28M
NOI $76,704 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
Explore this area
Business Placement
Demographics for 28376, NC
43,160
Population
16,834
Households
2.6
Avg Household Size
33
Median Age
23%
College-Educated
90%
High-School Grad
278.7 sq mi
ZIP Area
155
Density / Sq Mi
$61,793
Median Household Income
$40,858
Median Earnings
$1,091
Median Rent
$208,100
Median Home Value
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning and a four-suite layout support office or retail occupancy, with two units currently leased.
Where is this mixed-use property located?
The property is located at 402-406b Harris Avenue Raeford, NC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 5,000 square feet in an all‑brick building; Four separate units; two are currently occupied; Commercial zoning
