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106 S Ray 5,500 SF Retail Building Carthage, NC 28327 $2,100,000 ($381.82/SF)
Investment Highlights
- ?+/- 5,500 SF turnkey restaurant
- Corner location in downtown Carthage on +/- 0.41 acres (3 parcels)
- ?Former brewery restaurant location with existing hospitality infrastructure
- Historic Tyson & Jones Buggy Factory building (1906; renovated 2023)
- Outdoor pavilion seating/event area included
Executive Summary
Turnkey restaurant opportunity in the heart of Carthage, NC, prominently located on the corner of N Ray St and McReynolds St. This 5,500 SF, two-story brick building—originally built in 1906—was fully renovated in 2023 and was most recently the home to The Buggy Factory by Southern Pines Brewing.
The property spans three parcels totaling 0.41 acres and offers a rare chance to operate within a historic structure that has been thoughtfully restored and preserved, blending original character with modern updates. The space is already configured for food and beverage use, making it an attractive turnkey option for operators looking to step into an established hospitality setting.
In addition to the interior space, the property features an outdoor area with a pavilion, ideal for events and expanded seating opportunities. Parking is available surrounding the building and is owned by the Town of Carthage, providing convenient access for customers and guests.
This offering is a short sale and is subject to deed restrictions. Additionally, the Town of Carthage holds a right of first refusal.
A unique opportunity to combine historic charm with existing restaurant infrastructure in a growing downtown setting.
Photos are from when the business was in operation
The property spans three parcels totaling 0.41 acres and offers a rare chance to operate within a historic structure that has been thoughtfully restored and preserved, blending original character with modern updates. The space is already configured for food and beverage use, making it an attractive turnkey option for operators looking to step into an established hospitality setting.
In addition to the interior space, the property features an outdoor area with a pavilion, ideal for events and expanded seating opportunities. Parking is available surrounding the building and is owned by the Town of Carthage, providing convenient access for customers and guests.
This offering is a short sale and is subject to deed restrictions. Additionally, the Town of Carthage holds a right of first refusal.
A unique opportunity to combine historic charm with existing restaurant infrastructure in a growing downtown setting.
Photos are from when the business was in operation
Property Facts
Sale Type
Owner User
Sale Condition
Short Sale
Property Type
Retail
Property Subtype
Building Size
5,500 SF
Building Class
C
Year Built/Renovated
1906/2023
Price
$2,100,000
Price Per SF
$381.82
Tenancy
Single
Building Height
2 Stories
Building FAR
0.31
Lot Size
0.41 AC
Zoning
CBD
Somewhat walkable
30/100
Very drivable
80/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $708,960 | |
| Land Assessment | $48,670 | Total Assessment | $757,630 |
Property Taxes
Parcel Numbers
Land Assessment
$48,670
Improvements Assessment
$708,960
Total Assessment
$757,630
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106 S Ray
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