Restaurant Space in High-Traffic
For Sale
$1,600,000
509 Front Street, Beaufort, NC 28516
Commercial space in a high-traffic location near Crystal Coast beaches.
Property Size3,700 SF
Price / SF$432.43
Days on Market179
Property Features for 509 Front Street
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Commercial
Zoning
HBD
Taxes and HOA fees
Annual Taxes
$5,142
Amenities
Carpet
No
Yes
0.0
Brick
Public,Paved,On Street
Slab
Private Road,City Street,State Road
3700.0
Building Details
Year Built
1945
Listing Agency:
eXp Realty
(843) 301-0013
Listed By:
Jada Hollingsworth
(864) 202-1003
Source:
Baystreetrealtygroup
Added: Mar 12
Changed: Sep 5
Last Checked: Sep 5 at 5:08AM
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 eXp Realty
Investment Insights
Based on property information with market context.
Located on Front Street, this 3,700 square foot commercial space is currently used as a Ribeyes restaurant. The main entrance leads into the dining room, with the kitchen entrance on the left. A ramp on the right side of the seating area leads to the bar and entertaining space. A second entrance is located in the bar area, providing access to a dedicated parking spot in the gravel parking lot. Situated in a high-traffic location, the property is minutes from Crystal Coast beaches and 45 minutes from the OBX ferry and MCAS Cherry Point. This property offers a chance to own commercial space in a desirable location.
Key Highlights
- Prime location on Front Street in Taylor's Creek
- High‑traffic commercial space in a desirable area
- Existing building suitable for restaurant or other commercial use
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
$48,405
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
3.03%
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%
$968,100
$968.1K
Cap Rate 7%
$691,500
$691.5K
Cap Rate 9%
$537,833
$537.8K
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
$70.2K $18.96/SF
− Vacancy
−$5.6K −$1.52/SF
EGI
$64.5K $17.44/SF
− OpEx
−$16.1K −$4.36/SF
NOI
$48.4K $13.08/SF
Area
Carteret County, NC
Vacancy
8.00%
Lease Rate
$18.96 /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%
$968,100
Cap Rate 7%
$691,500
Cap Rate 9%
$537,833
Alternative Uses
Best Use
Specialty Retail
$691.5K
$605.1K – $806.8K
NOI $48,405 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$971.3K – $1.30M
NOI $77,700 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 28516, NC
11,204
Population
7,183
Households
1.6
Avg Household Size
52
Median Age
27%
College-Educated
89%
High-School Grad
125.7 sq mi
ZIP Area
89
Density / Sq Mi
$63,257
Median Household Income
$36,227
Median Earnings
$869
Median Rent
$292,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial space in a high-traffic location near Crystal Coast beaches.
Where is this conventional restaurant located?
The property is located at 509 Front Street Beaufort, NC.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Prime location on Front Street in Taylor's Creek; High‑traffic commercial space in a desirable area; Existing building suitable for restaurant or other commercial use
