Building Details

Year Built 1999

Buildings 1

Construction metal fabrication

Listing Agency: Coldwell Banker Sea Coast Advantage - SP

Listed By: Jason Robbins · License #296841 Show Phone

Source: Coastalrealtyassociates

Added: May 1 Changed: Oct 1 Last Checked: Oct 12 at 7:49PM

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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 Coldwell Banker Sea Coast Advantage - SP

Investment Insights

Based on property information with market context.

This freestanding bar property includes a commercial restaurant kitchen with cooking equipment, a walk-in refrigerator, and a walk-in freezer. The bar and dining room are furnished and include existing décor, while the site also provides an on-site parking lot for customers and staff. The improvements were built in 1999 and occupy a cleared 0.7-acre parcel.

The property fronts River Road (N.C. 87) in the Southport area, with 222 feet of frontage providing direct roadway exposure and access. Zoning and permitting are administered at the county level, and the property is commercially zoned. The existing configuration supports continued bar or restaurant use, subject to applicable approvals, while the land and improvements may also accommodate a broader commercial concept.

Key Highlights

• Cleared 0.7‑acre commercial parcel
• 222 feet of frontage on River Road (N.C. 87)
• Commercial kitchen with cooking equipment, walk‑in refrigerator, and walk‑in freezer

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,420

Cap Rate

3.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$448,400 $448.4K

Cap Rate 7%

$320,286 $320.3K

Cap Rate 9%

$249,111 $249.1K

Market Conditions

NOI Build-Up for 2,120 SF

Gross rent

$33.3K $15.72/SF

− Vacancy

−$3.4K −$1.62/SF

EGI

$29.9K $14.10/SF

− OpEx

−$7.5K −$3.53/SF

NOI

$22.4K $10.58/SF

Area

Brunswick County, NC

Vacancy

10.30%

Lease Rate

$15.72 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$448,400

Cap Rate 7%

$320,286

Cap Rate 9%

$249,111

Alternative Uses

Best Use

Specialty Retail

$320.3K

$280.3K – $373.7K (±1% cap)

NOI $22,420 @ 7.0% cap · market cap 3.32%

Second Best

Industrial

$308.9K

$270.3K – $360.4K (±1% cap)

NOI $21,622 @ 7.0% cap · market cap 3.20%

Theoretical Best

Multifamily LT 5

$25.96M

$22.71M – $30.28M (±1% cap)

NOI $1,817,071 @ 7.0% cap · market cap 269.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Bars & Pubs

Suggested Use

Top Pick Building Supply Auto Repair Shop Real Estate Agency Plumbing Service Storage Facility Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

49

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 28461, NC

22,141

Population

14,435

Households

1.5

Avg Household Size

62

Median Age

39%

College-Educated

95%

High-School Grad

75.9 sq mi

ZIP Area

292

Density / Sq Mi

$79,681

Median Household Income

$41,587

Median Earnings

$1,356

Median Rent

$388,800

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this bars & pubs located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Bar & Pub - Freestanding bar property with a commercial kitchen, dining furnishings, customer parking, and direct River Road access.

Where is this bar & pub located?

The property is located at 8039 River Rd SE Southport, NC.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: Cleared 0.7‑acre commercial parcel; 222 feet of frontage on River Road (N.C. 87); Commercial kitchen with cooking equipment, walk‑in refrigerator, and walk‑in freezer