Multi-Business Opportunity on 10
For Sale
$500,000
750 Edward Best, Louisburg, NC 27549
Former convenience store, laundromat, and car wash on 10 acres.
Property Size4,680 SF
Lot Size10.01 Acres
Price / SF$106.84
Days on Market147
Property Features for 750 Edward Best
General Information
Standard status
Active
Size
4,680 SF
Lot size
10.01 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,611
Building Details
Year Built
1988
Listing Agency:
FIVE COUNTY SPECIALISTS, LLC
(919) 887-5114
Listed By:
KELLY STRAUGHN · License #262173
Source:
Corcoran
Added: Mar 27
Changed: Aug 19
Last Checked: Aug 20 at 6:17AM
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 FIVE COUNTY SPECIALISTS, LLC
Investment Insights
Based on property information with market context.
This property presents an opportunity for multiple businesses or tenants. The site, situated on 10 acres, formerly housed a convenience store, laundromat, and car wash. The property encompasses a total size of 4,680 square feet and is being sold in its current condition.
Key Highlights
- 10‑acre lot offering ample space
- Multiple business opportunities await on this expansive property
- Former convenient store, ready for revitalization or a new venture
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
$29,954
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
5.99%
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%
$599,080
$599.1K
Cap Rate 7%
$427,914
$427.9K
Cap Rate 9%
$332,822
$332.8K
Market Conditions
NOI Build-Up for 4,680 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
$46.1K $9.84/SF
− Vacancy
−$3.3K −$0.70/SF
EGI
$42.8K $9.14/SF
− OpEx
−$12.8K −$2.74/SF
NOI
$30.0K $6.40/SF
Area
Franklin County, NC
Vacancy
7.08%
Lease Rate
$9.84 /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%
$599,080
Cap Rate 7%
$427,914
Cap Rate 9%
$332,822
Alternative Uses
Best Use
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,538 @ 7.0% cap · market cap 18.71%
Second Best
Retail
$1.19M
$1.04M – $1.38M
NOI $83,039 @ 7.0% cap · market cap 16.61%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27549, NC
24,558
Population
11,326
Households
2.2
Avg Household Size
43
Median Age
20%
College-Educated
85%
High-School Grad
231.7 sq mi
ZIP Area
106
Density / Sq Mi
$63,534
Median Household Income
$36,782
Median Earnings
$954
Median Rent
$191,400
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?
Grocery and convenience store - Former convenience store, laundromat, and car wash on 10 acres.
Where is this grocery and convenience store located?
The property is located at 750 Edward Best Louisburg, 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: 10‑acre lot offering ample space; Multiple business opportunities await on this expansive property; Former convenient store, ready for revitalization or a new venture
