Multifamily Apartment
For Sale
$1,950,000
104 Brickyard Ln, Lillington, NC 27546
Apartment-style multifamily property offered for sale in Lillington, suited for investors seeking residential rental housing.
Property Size13,050 SF
Days on Market67
Property Features for 104 Brickyard Ln
General Information
Standard status
Active
Size
13,050 SF
Property subtype
Multifamily
Building Details
Building Size
13,050 SF
Year Built
2017
Listing Agency:
Lee & Associates - Raleigh Durham
Listed By:
Kyle Gross
(919) 710-6400
Source:
Lee-associates
Added: Jun 30
Changed: Sep 4
Last Checked: Aug 11 at 4:43AM
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 Lee & Associates - Raleigh Durham
Investment Insights
Based on property information with market context.
This offering is a multifamily apartment building listed for sale under residential income property categories. The property is presented as an apartment building, making it a fit for buyers and operators interested in residential rental housing rather than single-tenant commercial use.
The building is located at 104 Brickyard Ln in Lillington, North Carolina. The information provided does not include details on unit mix, building size, or onsite amenities, so prospective buyers should plan to review additional materials or conduct their own due diligence for a complete understanding of the asset.
From a tenant and operator perspective, this type of property generally supports ongoing residential leasing activity. For buyers, the key next step is confirming the current configuration and performance drivers that matter for multifamily underwriting, including unit count and layout, physical condition, and any operational considerations that would impact day-to-day management. As provided, this is a straightforward multifamily apartment building for sale, with location in Lillington and classification as a residential income asset.
The building is located at 104 Brickyard Ln in Lillington, North Carolina. The information provided does not include details on unit mix, building size, or onsite amenities, so prospective buyers should plan to review additional materials or conduct their own due diligence for a complete understanding of the asset.
From a tenant and operator perspective, this type of property generally supports ongoing residential leasing activity. For buyers, the key next step is confirming the current configuration and performance drivers that matter for multifamily underwriting, including unit count and layout, physical condition, and any operational considerations that would impact day-to-day management. As provided, this is a straightforward multifamily apartment building for sale, with location in Lillington and classification as a residential income asset.
Key Highlights
- Apartment‑style multifamily property for sale in Lillington
- Built in 2017
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
$98,736
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
5.06%
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%
$1,974,720
$2.0M
Cap Rate 7%
$1,410,514
$1.4M
Cap Rate 9%
$1,097,067
$1.1M
Market Conditions
NOI Build-Up for 13,050 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
$192.6K $14.76/SF
− Vacancy
−$13.1K −$1.00/SF
EGI
$179.5K $13.76/SF
− OpEx
−$80.8K −$6.19/SF
NOI
$98.7K $7.57/SF
Area
Harnett County, NC
Vacancy
6.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$1,974,720
Cap Rate 7%
$1,410,514
Cap Rate 9%
$1,097,067
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.23M – $1.65M
NOI $98,736 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.49M – $3.31M
NOI $198,857 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
178
Businesses Nearby
Explore this area
Business Placement
Demographics for 27546, NC
20,637
Population
7,933
Households
2.6
Avg Household Size
37
Median Age
26%
College-Educated
89%
High-School Grad
122.5 sq mi
ZIP Area
168
Density / Sq Mi
$61,781
Median Household Income
$39,914
Median Earnings
$1,079
Median Rent
$227,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment-style multifamily property offered for sale in Lillington, suited for investors seeking residential rental housing.
Where is this apartment building located?
The property is located at 104 Brickyard Ln Lillington, NC.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Apartment‑style multifamily property for sale in Lillington; Built in 2017
