Street-Level Storefront
For Sale
$975,000
418 N Main Street, Hendersonville, NC 28792
Downtown Hendersonville setting with walkable access to retail, restaurants, residential properties, and professional services.
Property Size3,700 SF
Price / SF$263.51
Days on Market467
Property Features for 418 N Main Street
General Information
Standard status
Active
Size
3,700 SF
Property subtype
General Commercial
Additional Details
Floor
Ground
Amenities
Central Air
3
Parking.
Lot, On Street.
Building Details
Year Built
1938
Buildings
1
Listing Agency:
George Real Estate Group Inc
(828) 216-3492
Listed By:
Phillip Trees · License #324504
(828) 216-3492
Source:
Xome
Added: May 22, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:19PM
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 George Real Estate Group Inc
Investment Insights
Based on property information with market context.
Located at 418 N Main Street in Hendersonville, this 3,700-square-foot storefront property provides street-level commercial space with Central Air. The building dates to 1938 and includes a rear section comprising approximately one-third of the floor area that slopes down for convenient inventory handling or storage. On-street parking and an alley behind the building add practical access considerations.
The property sits within the five-block downtown area, where retail, restaurants, residential properties, and professional services are within walking distance. Downtown Hendersonville also hosts the NC Apple Festival each Labor Day, drawing more than 250,000 visitors. The existing tenant occupies the space on a month-to-month basis, allowing the next owner to evaluate continued tenancy, negotiate a lease, or pursue a different use.
The property sits within the five-block downtown area, where retail, restaurants, residential properties, and professional services are within walking distance. Downtown Hendersonville also hosts the NC Apple Festival each Labor Day, drawing more than 250,000 visitors. The existing tenant occupies the space on a month-to-month basis, allowing the next owner to evaluate continued tenancy, negotiate a lease, or pursue a different use.
Key Highlights
- 3,700‑square‑foot street‑level storefront at 418 N Main Street
- Building constructed in 1938 with Central Air
- Rear one‑third of floor space slopes down for inventory access or storage
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
$45,734
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
4.69%
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%
$914,680
$914.7K
Cap Rate 7%
$653,343
$653.3K
Cap Rate 9%
$508,156
$508.2K
Market Conditions
NOI Build-Up for 3,700 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
$66.6K $18.00/SF
− Vacancy
−$1.3K −$0.34/SF
EGI
$65.3K $17.66/SF
− OpEx
−$19.6K −$5.30/SF
NOI
$45.7K $12.36/SF
Area
Henderson County, NC
Vacancy
1.90%
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%
$914,680
Cap Rate 7%
$653,343
Cap Rate 9%
$508,156
Alternative Uses
Best Use
Retail
$653.3K
$571.7K – $762.2K
NOI $45,734 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,314 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,331
Businesses Nearby
45k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Dining 27%
Home Improvements & Furnishings 6%
First Citizens Bank
Shops & Services
9,690 visits/mo
0.2 miles
Truist
Shops & Services
6,636 visits/mo
0.2 miles
Marco's Pizza
Dining
5,187 visits/mo
0.3 miles
PNC Bank
Shops & Services
4,565 visits/mo
0.1 miles
Papa John's Pizza
Dining
3,998 visits/mo
0.1 miles
Demographics for 28792, NC
35,962
Population
18,121
Households
2
Avg Household Size
44
Median Age
26%
College-Educated
87%
High-School Grad
102.9 sq mi
ZIP Area
349
Density / Sq Mi
$55,066
Median Household Income
$32,312
Median Earnings
$1,131
Median Rent
$249,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Downtown Hendersonville setting with walkable access to retail, restaurants, residential properties, and professional services.
Where is this storefront property located?
The property is located at 418 N Main Street Hendersonville, NC.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,700‑square‑foot street‑level storefront at 418 N Main Street; Building constructed in 1938 with Central Air; Rear one‑third of floor space slopes down for inventory access or storage
