1920 Retail Corner
For Sale
$1,100,000
66 E Main Street, Brevard, NC 28712
Built in 1920, this retail corner building includes a partially finished lower level and a recently replaced Firestone membrane roof.
Property Size5,758 SF
Price / SF$191.04
Days on Market48
Property Features for 66 E Main Street
General Information
Standard status
Active
Size
5,758 SF
Property subtype
Commercial
Building Details
Year Built
1920
Listing Agency:
Howard Hanna Beverly-Hanks Brevard South
(828) 553-9666
Listed By:
Billy Harris · License #191086
Source:
Techrealtyllc
Added: Jul 8
Changed: Aug 23
Last Checked: Aug 23 at 2:59AM
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 Howard Hanna Beverly-Hanks Brevard South
Investment Insights
Based on property information with market context.
Built in 1920, this retail corner building totals 5,758 square feet and is positioned on a downtown Brevard corner at E Main St. The property includes space on the lower level that is partially finished, providing flexibility for storage, workspace, or future buildout depending on a buyer’s plans.
Owners recently completed a full roof overhaul and replacement. The roof is a Firestone membrane system with a transferable warranty (cost noted at $115,000). A public parking lot is located about a block away, supporting convenient customer access.
The current space is occupied by a month-to-month tenant. All showings require advance notice, and prospective buyers are asked not to disturb the tenant.
Owners recently completed a full roof overhaul and replacement. The roof is a Firestone membrane system with a transferable warranty (cost noted at $115,000). A public parking lot is located about a block away, supporting convenient customer access.
The current space is occupied by a month-to-month tenant. All showings require advance notice, and prospective buyers are asked not to disturb the tenant.
Key Highlights
- Commercial retail corner building on East Main Street built in 1920
- 5,758 SF of retail space in downtown Brevard
- Partially finished lower level for storage, workspace, or future buildout
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
$70,664
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
6.42%
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%
$1,413,280
$1.4M
Cap Rate 7%
$1,009,486
$1.0M
Cap Rate 9%
$785,156
$785.2K
Market Conditions
NOI Build-Up for 5,758 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
$103.6K $18.00/SF
− Vacancy
−$2.7K −$0.47/SF
EGI
$100.9K $17.53/SF
− OpEx
−$30.3K −$5.26/SF
NOI
$70.7K $12.27/SF
Area
Transylvania County, NC
Vacancy
2.60%
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%
$1,413,280
Cap Rate 7%
$1,009,486
Cap Rate 9%
$785,156
Alternative Uses
Best Use
Retail
$1.01M
$883.3K – $1.18M
NOI $70,664 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,707 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
836
Businesses Nearby
Explore this area
Business Placement
Demographics for 28712, NC
18,928
Population
10,714
Households
1.8
Avg Household Size
52
Median Age
40%
College-Educated
94%
High-School Grad
116.2 sq mi
ZIP Area
163
Density / Sq Mi
$61,560
Median Household Income
$34,583
Median Earnings
$939
Median Rent
$372,900
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?
Retail space - Built in 1920, this retail corner building includes a partially finished lower level and a recently replaced Firestone membrane roof.
Where is this retail space located?
The property is located at 66 E Main Street Brevard, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Commercial retail corner building on East Main Street built in 1920; 5,758 SF of retail space in downtown Brevard; Partially finished lower level for storage, workspace, or future buildout
