Storefront with Flexible Open
For Sale
$950,000
432 E Cornelius Harnett Boulevard E, Lillington, NC 27546
CommercialSale, Lillington, NC
Property Size3,101 SF
Lot Size0.37 Acres
Price / SF$306.35
Days on Market206
Property Features for 432 E Cornelius Harnett Boulevard E
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
OTHER - Other
Parking features
Off Street
Security features
Security
Lot features
Item14to12 Acre Lot, Cleared, Level
Directions
GPS
Standard status
Active
APN
0660-05-4745.000
Size
3,101 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Description
1 LOT 115X166(I) MCLEAN
Legal Description
1 LOT 115X166(I) MCLEAN
Utilities
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1960
Building materials
VerticalSiding, VinylSiding
Roof type
Metal
Listing Agency:
NIPPER PROPERTIES
(910) 984-5506
Listed By:
ANNA WOMACK · License #331319
(910) 890-5971
Added: Feb 21
Changed: Aug 19
Last Checked: Sep 15 at 3:06AM
MLS# 757753
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.
Investment Insights
Based on property information with market context.
This 3,101-square-foot storefront property occupies 0.37 acres and combines retail and office functionality. The interior includes multiple office areas, storage, restrooms, and a substantial open area that can be configured for future use. The space currently accommodates a retail bookstore and wine bar, with renovations completed in the wine bar area. Central air and electric cooling, public water, off-street parking, and a metal roof are among the existing property features.
The property is positioned within Lillington’s historic downtown district, near shops, services, and municipal offices. It is also located along a transportation corridor reporting daily traffic of more than 18,000 vehicles. The building dates to 1960 and includes vertical and vinyl siding. Its combination of open interior space and established retail-oriented improvements supports continued commercial use or reconfiguration for office and business purposes.
The property is positioned within Lillington’s historic downtown district, near shops, services, and municipal offices. It is also located along a transportation corridor reporting daily traffic of more than 18,000 vehicles. The building dates to 1960 and includes vertical and vinyl siding. Its combination of open interior space and established retail-oriented improvements supports continued commercial use or reconfiguration for office and business purposes.
Key Highlights
- 3,101‑square‑foot storefront property on 0.37 acres
- Interior includes multiple office areas, storage, restrooms, and a large open area
- Current configuration accommodates a retail bookstore and wine bar
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
$37,174
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
3.91%
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%
$743,480
$743.5K
Cap Rate 7%
$531,057
$531.1K
Cap Rate 9%
$413,044
$413.0K
Market Conditions
NOI Build-Up for 3,101 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
$52.8K $17.04/SF
− Vacancy
−$3.3K −$1.06/SF
EGI
$49.6K $15.98/SF
− OpEx
−$12.4K −$4.00/SF
NOI
$37.2K $11.99/SF
Area
Harnett County, NC
Vacancy
6.20%
Lease Rate
$17.04 /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%
$743,480
Cap Rate 7%
$531,057
Cap Rate 9%
$413,044
Alternative Uses
Best Use
Specialty Retail
$531.1K
$464.7K – $619.6K
NOI $37,174 @ 7.0% cap · market cap 3.91%
Second Best
Retail
$392.4K
$343.4K – $457.8K
NOI $27,469 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$675.0K
$590.7K – $787.6K
NOI $47,253 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
51k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 23%
Home Improvements & Furnishings 6%
Dollar General
Shops & Services
10,836 visits/mo
0.4 miles
Arby's
Dining
8,202 visits/mo
0.5 miles
Marathon
Shops & Services
7,358 visits/mo
0.3 miles
Truist
Shops & Services
5,196 visits/mo
0.2 miles
Little Caesars Pizza
Dining
3,734 visits/mo
0.4 miles
Demographics for 27546, NC
20,637
Population
7,933
Households
2.6
Avg Household Size
37
Median Age
26%
College-Educated
89%
High-School Grad
122.5 sq mi
ZIP Area
168
Density / Sq Mi
$61,781
Median Household Income
$39,914
Median Earnings
$1,079
Median Rent
$227,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail and office configuration includes storage, restrooms, and off-street parking.
Where is this storefront property located?
The property is located at 432 E Cornelius Harnett Boulevard E Lillington, NC.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,101‑square‑foot storefront property on 0.37 acres; Interior includes multiple office areas, storage, restrooms, and a large open area; Current configuration accommodates a retail bookstore and wine bar
