Freestanding Retail Building with Dual
580 Cornelius Street Hillsborough, NC 27278
580 Cornelius Street, Hillsborough, NC, 27278
$499,400
For Sale
$499,400
Single-story retail building with front entry from US 70 and rear access, offered for sale with GC zoning.
Property Size1,750 SF
Price / SF$285.37
Days on Market29
Property Features for 580 Cornelius Street
General Information
- Standard status
- Active
- Size
- 1,750 SF
- Property subtype
- Retail
Listing agency
KW Commercial | Durham Southpoint | Vandan Gandhi
(919) 475-5769
Listed by
Vandan Gandhi, CCIM · License #NC #247850
Source
Vgrealty
Added: Jun 24 Updated: Jul 22 at 1:15AM Checked: Jul 22 at 5:28AM
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 KW Commercial | Durham Southpoint | Vandan Gandhi
Investment Insights
Based on property information with market context.
580 Cornelius St presents a ±1,815-square-foot freestanding, single-story retail building on approximately 0.16 acres, built in 1975. The layout is described as functional and suitable for a variety of commercial uses, supported by Flexible General Commercial (GC) zoning that allows retail, service, or restaurant operations.
The property is positioned for visibility along US Highway 70 at a signalized intersection. There is dual access with a front entry from US 70 and rear access via Revere Road, supporting convenient customer flow. The remarks also note a highly connected location near NC-86 (±0.5 miles) and I-85 (±2.5 miles), with Mebane, Durham, and Burlington nearby.
The property is positioned for visibility along US Highway 70 at a signalized intersection. There is dual access with a front entry from US 70 and rear access via Revere Road, supporting convenient customer flow. The remarks also note a highly connected location near NC-86 (±0.5 miles) and I-85 (±2.5 miles), with Mebane, Durham, and Burlington nearby.
Key Highlights
- ±1,815 SF freestanding, single‑story retail building on approx. 0.16 acres, built in 1975
- Front entry on US Highway 70 with rear access via Revere Road
- Prime traffic exposure along US Highway 70 at a signalized intersection
Local Financial Insights For Retail
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 | $31.5k | $18.00 |
| − Vacancy | −$2.4k | −$1.35 |
| EGI | $29.1k | $16.65 |
| − OpEx | −$8.7k | −$5.00 |
| NOI | $20.4k | $11.66 |
1,750 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$291.4K
$255.0K – $339.9K
NOI $20,396 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$565.1K
$494.5K – $659.3K
NOI $39,557 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Single-story retail building with front entry from US 70 and rear access, offered for sale with GC zoning.
Where is this retail space located?
The property is located at 580 Cornelius Street Hillsborough, NC.
What is the asking price?
The asking price for this property is $499,400.
What are key features of this property?
This property features: ±1,815 SF freestanding, single‑story retail building on approx. 0.16 acres, built in 1975; Front entry on US Highway 70 with rear access via Revere Road; Prime traffic exposure along US Highway 70 at a signalized intersection
