Building Details

Year Built 1940

Buildings 1

Units 3

Tenancy Single

Listing Agency: Four Seasons Realty s***@gmail.com Show Phone

Listed By: Garry West · License #NC 149828

Source: Crexi

Added: Jun 10 Changed: Aug 8 Last Checked: Aug 1 at 5:35PM

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Investment Insights

Based on property information with market context.

This retail building features two separate storefronts, providing distinct spaces under one ownership. 8341 West Franklin Street is currently leased, while 8345 West Franklin Street is vacant and ready for a new tenant or personal use. The property is presented as a straightforward ownership opportunity for buyers looking for retail frontage and operational flexibility.

Located in the Center City District of historic Mount Pleasant, the property is described as highly visible at the center of town. The two storefronts support street-level presence and separate identity for each space.

For a tenant-user, the vacant unit at 8345 West Franklin Street can be used as a personal retail location, with the benefit of being part of a two-storefront arrangement. For an investor, the leased status of 8341 West Franklin Street offers existing rental occupancy alongside a second storefront that may be marketed for lease. The combination of a current tenant and a ready-to-occupy space can simplify planning for operators who prefer options within a single property.

Key Highlights

• Commercial property built in 1940 in Mount Pleasant’s Center City District
• Two distinct storefronts with a flexible setup for an owner‑occupant or investor
• Address 8341 W Franklin is currently leased

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

$33,933

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

6.17%

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%

$678,660 $678.7K

Cap Rate 7%

$484,757 $484.8K

Cap Rate 9%

$377,033 $377.0K

Market Conditions

NOI Build-Up for 2,764 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

$52.4K $18.96/SF

− Vacancy

−$3.9K −$1.42/SF

EGI

$48.5K $17.54/SF

− OpEx

−$14.5K −$5.26/SF

NOI

$33.9K $12.28/SF

Area

Cabarrus County, NC

Vacancy

7.50%

Lease Rate

$18.96 /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%

$678,660

Cap Rate 7%

$484,757

Cap Rate 9%

$377,033

Alternative Uses

Best Use

Retail

$484.8K

$424.2K – $565.6K (±1% cap)

NOI $33,933 @ 7.0% cap · market cap 6.17%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$869.9K

$761.2K – $1.01M (±1% cap)

NOI $60,896 @ 7.0% cap · market cap 11.07%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage HVAC Service Hair Salon Pharmacy Storage Facility

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

Location Intelligence

Trade Area within ½ mile

174

Businesses Nearby

22k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 58% Dining 42%

Shell Shops & Services

12,809 visits/mo 0.4 miles

Whataburger Dining

9,308 visits/mo 0.1 miles

Demographics for 28124, NC

6,922

Population

2,452

Households

2.8

Avg Household Size

43

Median Age

23%

College-Educated

89%

High-School Grad

58.1 sq mi

ZIP Area

119

Density / Sq Mi

$76,600

Median Household Income

$42,593

Median Earnings

$1,078

Median Rent

$267,500

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

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Frequently Asked Questions

What type of property is this?

Storefront property - Two distinct storefronts offer a flexible setup for an owner-occupant or investor in Mount Pleasant’s Center City District.

Where is this storefront property located?

The property is located at 8341 West Franklin Street Mt Pleasant, NC.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: Commercial property built in 1940 in Mount Pleasant’s Center City District; Two distinct storefronts with a flexible setup for an owner‑occupant or investor; Address 8341 W Franklin is currently leased