Storefront with Dual
For Sale
$595,000
903 N Breazeale Ave, Mount Olive, NC 28365
Two-level commercial property with on-site parking, signage, and entry from two roads.
Property Size3,082 SF
Lot Size0.53 Acres
Price / SF$193.06
Days on Market37
Property Features for 903 N Breazeale Ave
General Information
Standard status
Active
Size
3,082 SF
Lot size
0.53 Acres
Additional Details
Road Access
Yes
Building Details
Year Built
1984
Buildings
1
Listing Agency:
Kornegay Realty
(919) 738-3982
Listed By:
David Kornegay · License #165118
Source:
Barefootbrokers
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 29 at 11:58AM
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 Kornegay Realty
Investment Insights
Based on property information with market context.
This 3,082-square-foot storefront property was built in 1984 on a 0.53-acre lot. The building includes an upper level, with on-site parking and signage serving the property. Access is available from both Breazeale Avenue and Bert Martin Road, providing two identified entry points.
The property is situated within Mount Olive’s business district. Its storefront format, visible signage, parking, upper-level space, and dual-road access define the principal physical features of the offering.
The property is situated within Mount Olive’s business district. Its storefront format, visible signage, parking, upper-level space, and dual-road access define the principal physical features of the offering.
Key Highlights
- 3,082 SF storefront property built in 1984
- Situated on a 0.53‑acre lot
- Upper level included in the building
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
$37,824
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
6.36%
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%
$756,480
$756.5K
Cap Rate 7%
$540,343
$540.3K
Cap Rate 9%
$420,267
$420.3K
Market Conditions
NOI Build-Up for 3,082 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
$55.5K $18.00/SF
− Vacancy
−$1.4K −$0.47/SF
EGI
$54.0K $17.53/SF
− OpEx
−$16.2K −$5.26/SF
NOI
$37.8K $12.27/SF
Area
Wayne 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%
$756,480
Cap Rate 7%
$540,343
Cap Rate 9%
$420,267
Alternative Uses
Best Use
Retail
$540.3K
$472.8K – $630.4K
NOI $37,824 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.89M
NOI $173,448 @ 7.0% cap · market cap 29.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
237k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 34%
Shops & Services 24%
Superstores 23%
Groceries 15%
Walmart
Superstores
54,614 visits/mo
0.4 miles
McDonald's
Dining
29,965 visits/mo
0.4 miles
Food Lion Grocery Store
Groceries
19,493 visits/mo
0.2 miles
Piggly Wiggly
Groceries
15,054 visits/mo
0.3 miles
Burger King
Dining
13,726 visits/mo
0.3 miles
Demographics for 28365, NC
14,653
Population
6,541
Households
2.2
Avg Household Size
40
Median Age
16%
College-Educated
80%
High-School Grad
191.4 sq mi
ZIP Area
77
Density / Sq Mi
$52,333
Median Household Income
$32,642
Median Earnings
$922
Median Rent
$119,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Front Porch Florist & Gifts Inc — 1035 N Breazeale Ave, Mt Olive, NC 28365
Frequently Asked Questions
What type of property is this?
Storefront property - Two-level commercial property with on-site parking, signage, and entry from two roads.
Where is this storefront property located?
The property is located at 903 N Breazeale Ave Mount Olive, NC.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,082 SF storefront property built in 1984; Situated on a 0.53‑acre lot; Upper level included in the building
