Restaurant Building with
For Sale
$1,090,000
714 Broad St, New Bern, NC 28562
The property combines restaurant space, drive-through service, and ample on-site parking.
Property Size3,322 SF
Lot Size0.96 Acres
Price / SF$328.12
Days on Market40
Property Features for 714 Broad St
General Information
Standard status
Active
Size
3,322 SF
Lot size
0.96 Acres
Additional Details
Drive-Thru
Yes
Building Details
Year Built
1979
Listing Agency:
CENTURY 21 ZAYTOUN RAINES
(908) 482-1395
Listed By:
Melinda Jane Bianchi · License #302826
Source:
Ibxcoastalliving
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 28 at 1:08PM
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 CENTURY 21 ZAYTOUN RAINES
Investment Insights
Based on property information with market context.
Located at 714 Broad St in New Bern, this restaurant property contains 3,322 square feet within a 0.96-acre site. The building includes a drive-through and more than ample parking, supporting a range of restaurant or retail configurations. Constructed in 1979, the property previously operated as a Hardee’s and later as Jim Bob’s Restaurant.
The site is positioned near county offices, other restaurants, waterfront destinations, and Union Park. Its Broad Street location provides access to an established downtown setting with surrounding civic, dining, and recreational uses.
The site is positioned near county offices, other restaurants, waterfront destinations, and Union Park. Its Broad Street location provides access to an established downtown setting with surrounding civic, dining, and recreational uses.
Key Highlights
- 3,322‑square‑foot restaurant building
- 0.96‑acre site at 714 Broad St
- Drive‑through configuration
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
$65,635
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
6.02%
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%
$1,312,700
$1.3M
Cap Rate 7%
$937,643
$937.6K
Cap Rate 9%
$729,278
$729.3K
Market Conditions
NOI Build-Up for 3,322 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
$100.1K $30.12/SF
− Vacancy
−$6.3K −$1.89/SF
EGI
$93.8K $28.23/SF
− OpEx
−$28.1K −$8.47/SF
NOI
$65.6K $19.76/SF
Area
Craven County, NC
Vacancy
6.29%
Lease Rate
$30.12 /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%
$1,312,700
Cap Rate 7%
$937,643
Cap Rate 9%
$729,278
Alternative Uses
Best Use
Retail
$937.6K
$820.4K – $1.09M
NOI $65,635 @ 7.0% cap · market cap 6.02%
Second Best
Specialty Retail
$613.8K
$537.0K – $716.1K
NOI $42,963 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$1.10M
$958.4K – $1.28M
NOI $76,668 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,043
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28562, NC
39,375
Population
18,812
Households
2.1
Avg Household Size
45
Median Age
33%
College-Educated
93%
High-School Grad
151.7 sq mi
ZIP Area
260
Density / Sq Mi
$74,620
Median Household Income
$40,215
Median Earnings
$1,131
Median Rent
$246,400
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?
Conventional restaurant - The property combines restaurant space, drive-through service, and ample on-site parking.
Where is this conventional restaurant located?
The property is located at 714 Broad St New Bern, NC.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: 3,322‑square‑foot restaurant building; 0.96‑acre site at 714 Broad St; Drive‑through configuration
