Mixed-Use Property with Finished Lower
1023 S Main Street, Burlington, NC 27215
For Sale
$289,000
Pending
Commercial Sale, Burlington, NC
Property Size2,524 SF
Lot Size0.35 Acres
Days on Market35
Property Features for 1023 S Main Street
General Information
Property type
Property subtype
Zoning
Bathrooms
Full bathrooms
Rooms
Interior features
Basement
Appliances
Subdivision
Lot features
Standard status
APN
Size
Lot size
Additional Details
Property Use
Condition
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Listing Agency:
eXp Realty, LLC - C
(888) 584-9431
Listed By:
Yazmin Simone Aguila · License NC #322333
(919) 548-6057
Added: Oct 7
Changed: Nov 2
Last Checked: Nov 10 at 11:06AM
MLS# 10197152
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.
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Investment Insights
Based on property information with market context.
This two-level mixed-use property contains 2,524 square feet on a 0.35-acre parcel and is zoned OI. The upper floor has three bedrooms, two full bathrooms, a kitchen area, and a 10-by-10-foot rear deck. On the lower floor, two finished rooms and a full bathroom provide additional interior space. The property was remodeled and includes stainless steel appliances and an HVAC unit installed in 2025.
A gravel parking area sits behind the building. Downtown Burlington, along with restaurants and shops, is within walking distance. Public water and sewer serve the property.
A gravel parking area sits behind the building. Downtown Burlington, along with restaurants and shops, is within walking distance. Public water and sewer serve the property.
Key Highlights
- 2,524‑square‑foot property on 0.35 acres
- OI zoning
- Upper level includes 3 bedrooms, 2 full bathrooms, a kitchen area, and a 10' x 10' rear deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,556
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,120
$511.1K
Cap Rate 7%
$365,086
$365.1K
Cap Rate 9%
$283,956
$284.0K
Market Conditions
NOI Build-Up for 2,524 SF
Gross rent
$45.4K $18.00/SF
− Vacancy
−$4.5K −$1.80/SF
EGI
$40.9K $16.20/SF
− OpEx
−$15.3K −$6.07/SF
NOI
$25.6K $10.13/SF
Area
Alamance County, NC
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,120
Cap Rate 7%
$365,086
Cap Rate 9%
$283,956
Alternative Uses
Best Use
Office B
$700.1K
$612.6K – $816.8K
NOI $49,010 @ 7.0% cap · market cap 16.96%
Second Best
Mixed Use
$365.1K
$319.5K – $425.9K
NOI $25,556 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$832.2K
$728.1K – $970.9K
NOI $58,251 @ 7.0% cap · market cap 20.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
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Business Placement
Demographics for 27215, NC
44,620
Population
21,854
Households
2
Avg Household Size
42
Median Age
37%
College-Educated
92%
High-School Grad
63.1 sq mi
ZIP Area
707
Density / Sq Mi
$66,669
Median Household Income
$45,267
Median Earnings
$1,112
Median Rent
$241,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two finished levels combine residential-style rooms, kitchen facilities, and flexible office or meeting space.
Where is this mixed-use property located?
The property is located at 1023 S Main Street Burlington, NC.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 2,524‑square‑foot property on 0.35 acres; OI zoning; Upper level includes 3 bedrooms, 2 full bathrooms, a kitchen area, and a 10' x 10' rear deck
