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    601 Main St Lillington, NC 27546

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    Sponsored
    For Sale
    $4,950,000

    MULTI_FAMILY - Lillington, NC

    Type:Apartment
    Property size:
    46,400 SF
    Lot size:
    7.10 Acres
    Days on Market:
    36
    Last Refresh:
    Mar 17 at 9:06 am

    Property Features for 601 Main St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Apartment
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    RA-30
    Rooms
    Bedroom 10, Bedroom 71, Bathroom 17, Bedroom 5, Bedroom 37, Bathroom 3, Bathroom 98, Bathroom 25, Bedroom 22, Bathroom 54, Bathroom 63, Bedroom 7, Bedroom 23, Bedroom 50, Bathroom 57, Bedroom 53, Bathroom 43, Bedroom 8, Bathroom 67, Bathroom 49, Bedroom 12, Bedroom 29, Bedroom 51, Bathroom 20, Bedroom 24, Bedroom 58, Bathroom 16, Bedroom 70, Bathroom 24, Bathroom 53, Bathroom 79, Bathroom 65, Bedroom 47, Bedroom 63, Bathroom 84, Bedroom 16, Bedroom 54, Bedroom 17, Bedroom 21, Bedroom 59, Bathroom 96, Bathroom 33, Bathroom 74, Bathroom 61, Bathroom 8, Bathroom 75, Bathroom 22, Bedroom 36, Bedroom 28, Bedroom 35, Bedroom 65, Bathroom 94, Bathroom 7, Bedroom 43, Bedroom 64, Bedroom 45, Bathroom 88, Bathroom 104, Bathroom 31, Bedroom 30, Bedroom 41, Bathroom 100, Bedroom 4, Bathroom 15, Bathroom 32, Bathroom 95, Bathroom 41, Bathroom 45, Bedroom 9, Bathroom 37, Bathroom 12, Bedroom 18, Bathroom 34, Bathroom 4, Bathroom 85, Bathroom 91, Bedroom 46, Bathroom 18, Bathroom 59, Bathroom 97, Bathroom 71, Bathroom 103, Bathroom 50, Bathroom 86, Bedroom 25, Bathroom 27, Bathroom 39, Bedroom 2, Bedroom 56, Bathroom 11, Bedroom 33, Bedroom 11, Bedroom 42, Bedroom 48, Bathroom 52, Bathroom 47, Bathroom 102, Bathroom 55, Bedroom 68, Bedroom 52, Bedroom 31, Bathroom 69, Bedroom 27, Bathroom 78, Bathroom 62, Bathroom 68, Bathroom 89, Bedroom 26, Bathroom 29, Bathroom 36, Bathroom 93, Bathroom 26, Bedroom 20, Bathroom 80, Bedroom 38, Bedroom 57, Bathroom 87, Bedroom 66, Bathroom 90, Bathroom 51, Bathroom 10, Bathroom 14, Bathroom 28, Bedroom 49, Bathroom 13, Bathroom 83, Bathroom 81, Bathroom 72, Bathroom 48, Bathroom 30, Bathroom 35, Bathroom 76, Bedroom 40, Bathroom 23, Bathroom 58, Bedroom 32, Bedroom 67, Bathroom 66, Bedroom 13, Bedroom 55, Bedroom 69, Bedroom 1, Bathroom 46, Bedroom 3, Bedroom 14, Bathroom 82, Bathroom 38, Bathroom 40, Bathroom 2, Bathroom 44, Bathroom 101, Bedroom 60, Bathroom 21, Bedroom 6, Bedroom 39, Bathroom 56, Bedroom 34, Bathroom 60, Bathroom 73, Bedroom 19, Bedroom 62, Bathroom 1, Bathroom 77, Bedroom 61, Bathroom 5, Bedroom 44, Bathroom 92, Bathroom 9, Bathroom 70, Bathroom 42, Bathroom 99, Bathroom 64, Bedroom 15, Bathroom 6, Bathroom 19
    Bedrooms
    71
    Bathrooms
    88
    APN
    0670-86-6402.000/ 0670-86-7395.000
    Exterior features
    Storage
    Appliances
    Dishwasher, Dryer, Electric Cooktop, Refrigerator, Washer, Water Heater
    Size
    46,400 SF
    Lot size
    7.10 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Forced Air
    Cooling system
    Electric, Heat Pump, Central Air
    Water source
    Public

    Building Details

    Year built
    1999
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Carpet, Vinyl
    Building materials
    Brick Veneer, Frame, Vinyl Siding
    Roof type
    Asphalt
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Lucia Turlington

    Turlington Real Estate Group Inc (919) 697-6905

    Listing agent Lucia Turlington (919) 697-6905

    Listing date Feb 9, 2026

    MLS# 10145383

    Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Multifamily Property Near Campbell University

    Located within walking distance of Campbell University and 10 minutes from Lillington, this multifamily property features a mix of one-bedroom, one-bathroom units, two-bedroom, two-and-a-half-bathroom units, and three-bedroom, three-bathroom units. The units have remained 100% occupied year after year, with rent increases occurring annually. The occupants are a mix of students, faculty, and the general public. The property consists of vinyl and brick exteriors on a slab, with all units having ground-level entrances. There is ample parking for occupants and visitors. Each unit is individually metered and all-electric. Included with each unit are a refrigerator, stove, washing machine, dryer, garbage dumpster, and ground care. An on-site office is currently used for storage by the property management and maintenance crew. The property has been maintained as needed, with all new roofs installed in 2016. AC units and appliances have been replaced as needed, and work orders are completed as they are submitted. Approximately 50% of the units have been updated with LVP flooring on the main level and in the bathrooms, with carpet replaced as needed. All tenants have a deposit in trust. Additionally, there are 2.85 acres of cleared land for 24 additional units in 4 buildings with 6 units each, already addressed by Harnett County, and plans are in hand. All utilities are at the road. The plans will be conveyed to the buyer at closing. The property is located in Lillington, North Carolina.
    Location Intelligence

    Current Use by Public Records

    Harnett County Schools School District Office Meredith Square Townhomes Townhouse Complex

    Suggested Use

    Restaurant Real Estate Agency Law Firm Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Food Market Accounting Firm Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lillington
    County
    Harnett
    State
    North Carolina
    Longitude
    -78.735523
    Latitude
    35.415782

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    FAQs

    What type of property is this?
    Apartment building - Multifamily property near Campbell University with expansion potential.
    Where is this apartment building located?
    The property is located at 601 Main St Lillington, NC.
    What is the asking price?
    The asking price for this property is $4,950,000.
    What are key features of this property?
    This property features: - Approved plans for 24 additional units on 2.85 acres, with utilities at the road.; - Proven rental income with 100% occupancy year after year.; - Prime location within walking distance to Campbell University.
    (919) 697-6905
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    601 Main St Lillington, NC 27546
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    601 Main St Lillington, NC 27546
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    We can help!
    Listing Contact
    Lucia Turlington
    Real Estate License ID: 265256
    (919) 697-6905 (910) 892-0463
    Learn more
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