Mixed-Use Property with Finished Lower
New
For Sale
$289,000
1023 S Main Street, Burlington, NC 27215
Commercial Sale, Burlington, NC
Property Size2,524 SF
Lot Size0.35 Acres
Price / SF$114.50
Days on Market4
Property Features for 1023 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OI
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Basement, Bathroom 3, Dining Room
Interior features
Ceiling Fan(s), Granite Counters, Kitchen/Dining Room Combination, Open Floorplan
Basement
Walk-Out Access, Finished, Sump Pump, Exterior Entry
Appliances
Dishwasher, Electric Range, Microwave, Refrigerator
Subdivision
Not in a Subdivision
Lot features
Back Yard, Open Lot, Partially Cleared, Sloped
Standard status
Active
APN
125943
Size
2,524 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
S Main St 19-64-28
Tax Annual Amount
1058
Legal Description
S Main St 19-64-28
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1910
Floors in Building
1
Flooring type
Concrete
Building materials
Brick, Concrete, Vinyl Siding
Roof type
Shingle
Listing Agency:
eXp Realty, LLC - C
(888) 584-9431
Listed By:
Yazmin Simone Aguila · License #322333
(919) 548-6057
Added: Oct 7
Last Checked: Oct 10 at 5:06PM
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.
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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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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
