Mixed-Use Property with
For Sale
$500,000
632 644 652 S Broadway Street, Forest City, NC 28043
The offering combines two commercial buildings and a vacant lot, with one building operating as a walk-up restaurant.
Property Size4,501 SF
Price / SF$111.09
Days on Market220
Property Features for 632 644 652 S Broadway Street
General Information
Standard status
Active
Size
4,501 SF
Property subtype
Commercial
Site & Location
Traffic Count
8,000 vehicles/day
Road Access
Yes
Building Details
Building Size
4,501 SF
Year Built
1951
Buildings
2
Stories
1
Listing Agency:
Buddy Harper Team Realty
(704) 879-7155
Listed By:
Buddy Harper · License #211896
(704) 747-4016
Source:
Buddyharper
Added: Mar 18
Changed: Oct 22
Last Checked: Oct 22 at 2:37PM
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 Buddy Harper Team Realty
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Investment Insights
Based on property information with market context.
The offering includes three tracts: two commercial buildings and a vacant lot. The office building at 652 S. Broadway has seven private offices, a reception area, a conference room, and basement space; it is vacant. At 644 S. Broadway, a walk-up restaurant is leased month to month, and the building also has a basement. The vacant lot is at 632 S. Broadway.
The properties have approximately 300 feet of frontage on S. Broadway and approximately 195 feet along Sunnyside Street. They adjoin Food Lion and The Medicine Box Drug Store. The reported daily traffic count is 8,000.
The properties have approximately 300 feet of frontage on S. Broadway and approximately 195 feet along Sunnyside Street. They adjoin Food Lion and The Medicine Box Drug Store. The reported daily traffic count is 8,000.
Key Highlights
- Three tracts include two commercial buildings and one vacant lot
- Office layout includes seven private offices, reception area, and conference room
- Walk‑up restaurant building is leased month to month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,795
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,900
$635.9K
Cap Rate 7%
$454,214
$454.2K
Cap Rate 9%
$353,278
$353.3K
Market Conditions
NOI Build-Up for 4,501 SF
Gross rent
$56.7K $12.60/SF
− Vacancy
−$5.8K −$1.30/SF
EGI
$50.9K $11.30/SF
− OpEx
−$19.1K −$4.24/SF
NOI
$31.8K $7.06/SF
Area
Rutherford County, NC
Vacancy
10.30%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,900
Cap Rate 7%
$454,214
Cap Rate 9%
$353,278
Alternative Uses
Best Use
Specialty Retail
$762.6K
$667.3K – $889.7K
NOI $53,381 @ 7.0% cap · market cap 10.68%
Second Best
Office B
$671.9K
$587.9K – $783.9K
NOI $47,031 @ 7.0% cap · market cap 9.41%
Theoretical Best
Office A
$992.6K
$868.5K – $1.16M
NOI $69,481 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
8,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 28043, NC
20,183
Population
9,356
Households
2.2
Avg Household Size
43
Median Age
18%
College-Educated
84%
High-School Grad
66.3 sq mi
ZIP Area
304
Density / Sq Mi
$41,746
Median Household Income
$29,909
Median Earnings
$744
Median Rent
$176,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The offering combines two commercial buildings and a vacant lot, with one building operating as a walk-up restaurant.
Where is this mixed-use property located?
The property is located at 632 644 652 S Broadway Street Forest City, NC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Three tracts include two commercial buildings and one vacant lot; Office layout includes seven private offices, reception area, and conference room; Walk‑up restaurant building is leased month to month
