High-Visibility Commercial Property in
For Sale
$699,000
925 N Brightleaf, Smithfield, NC 27577
Exceptional commercial property with high visibility and excellent highway access.
Property Size1,836 SF
Price / SF$380.72
Days on Market140
Property Features for 925 N Brightleaf
General Information
Standard status
Active
Size
1,836 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,383
Amenities
Accessible Approach with Ramp
Tile Flooring
Building Details
Year Built
1984
Listing Agency:
ESP REALTY
(919) 205-3388
Listed By:
THERESA LOBDELL
Source:
Corcoran
Added: Apr 13
Changed: Aug 28
Last Checked: Aug 29 at 7:50AM
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 ESP REALTY
Investment Insights
Based on property information with market context.
The property at 925 N Brightleaf Boulevard presents an opportunity to acquire a commercial property with high visibility along a primary retail corridor in Smithfield. It is located minutes from Carolina Premium Outlets, benefiting from consumer traffic and proximity to national retailers and established businesses. Situated less than one mile from I-95, the site offers regional accessibility and connectivity, appealing to local and highway-oriented users. The property is zoned B-3 (Highway Business), which allows for a range of retail, restaurant, office, service, and automotive-related uses, offering flexibility for owner-occupants or investors. Recent property upgrades complement the location, highway access, and surrounding retail synergy in the expanding Smithfield market. The property size is 1836 square feet.
Key Highlights
- High‑visibility location on a primary retail corridor in Smithfield.
- Excellent highway access, less than one mile from I‑95.
- Proximity to Carolina Premium Outlets and national retailers.
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
$28,910
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
4.14%
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%
$578,200
$578.2K
Cap Rate 7%
$413,000
$413.0K
Cap Rate 9%
$321,222
$321.2K
Market Conditions
NOI Build-Up for 1,836 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
$39.7K $21.60/SF
− Vacancy
−$1.1K −$0.60/SF
EGI
$38.5K $21.00/SF
− OpEx
−$9.6K −$5.25/SF
NOI
$28.9K $15.75/SF
Area
Johnston County, NC
Vacancy
2.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$578,200
Cap Rate 7%
$413,000
Cap Rate 9%
$321,222
Alternative Uses
Best Use
Specialty Retail
$413.0K
$361.4K – $481.8K
NOI $28,910 @ 7.0% cap · market cap 4.14%
Second Best
Office B
$402.6K
$352.3K – $469.7K
NOI $28,183 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$555.4K
$486.0K – $648.0K
NOI $38,880 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27577, NC
24,972
Population
10,744
Households
2.3
Avg Household Size
40
Median Age
21%
College-Educated
82%
High-School Grad
103.7 sq mi
ZIP Area
241
Density / Sq Mi
$56,237
Median Household Income
$39,604
Median Earnings
$802
Median Rent
$230,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Smithfield City Florist Inc — 902 S Brightleaf Blvd, Smithfield, NC 27577
Frequently Asked Questions
What type of property is this?
Storefront property - Exceptional commercial property with high visibility and excellent highway access.
Where is this storefront property located?
The property is located at 925 N Brightleaf Smithfield, NC.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: High‑visibility location on a primary retail corridor in Smithfield.; Excellent highway access, less than one mile from I‑95.; Proximity to Carolina Premium Outlets and national retailers.
