Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    North Wilkesboro Multifamily Investment Opportunity Title is generated by Realmo AI

    110 Village Drive, North Wilkesboro, NC 28659

    View on Map
    Claim this Listing
    For Sale
    $1,650,000

    MULTI_FAMILY - North Wilkesboro, NC

    Property size:
    1,133 SF
    Lot size:
    7.70 Acres
    Price / SF:
    $1,456/SF
    Added:
    Mar 17, 2026
    Days on Market:
    60
    Last Refresh:
    May 15 at 11:06 pm

    Property Features for 110 Village Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R1
    Standard status
    Active
    Size
    1,133 SF
    Lot size
    7.70 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Public

    We can help!

    Listing Contact
    Casey West

    Listing agent Casey West

    Listing office Realty One Group Results Moravian Falls, NC

    Listing date Mar 17, 2026

    MLS# 1212048

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

    HighLights

    • Renovated in 2024: Featuring new HVAC systems, windows, tubs, cabinets, flooring, and light fixtures.
    • 12‑unit multifamily property: Consisting of six 1‑bedroom and six 2‑bedroom units.
    • Brick construction: All units are brick, offering durability and low maintenance.
    • Washer and dryer included: Each unit is equipped with an owner‑provided washer and dryer.
    • Investment opportunity: Property is partially leased with income potential and upside from the three vacant units.
    • Large lot size: Situated on approximately 7.7 acres.

    Overview

    This multifamily property in North Wilkesboro presents an investment opportunity, featuring 12 units on approximately 7.7 acres. The property consists of six 1-bedroom units and six 2-bedroom units, distributed among four duplex buildings and one fourplex. All units are of brick construction. According to the seller, renovations were completed in 2024, including updates to HVAC systems, windows, tubs, cabinets, flooring, and light fixtures. The seller also reports that two roofs were replaced in 2024, and some entry doors were replaced. Each unit is equipped with a washer and dryer provided by the owner. Currently, nine units are leased, with three units available and listed through property management. The property is located approximately 40-45 minutes from Boone and 55-60 minutes from Winston-Salem. Measurements are taking place on 3-16-2026 and will be uploaded to attachments once received. Rental information is available upon request.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Food Market Grocery & Convenience Store Garden Center Grocery & Convenience Store Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    North Wilkesboro
    County
    Wilkes
    State
    North Carolina
    Longitude
    -81.200823
    Latitude
    36.171529

    Nearby Similar for Sale

    • $319,000
      3,274 SF

      North Wilkesboro Flex/Industrial Property

      Versatile commercial property with office, warehouse, and retail potential.
      125 Woodhaven Road, North Wilkesboro, NC 28659
      View Details
    • $349,000
      1,400 SF

      Restored Country Store/Gas Station

      Unique property with endless possibilities, ready for a new owner.
      6278 Sparta Road, North Wilkesboro, NC 28659
      View Details
    • $699,000
      26,000 SF

      Versatile Commercial Property on Highway 268

      Expansive commercial property with warehouse and office space in North Wilkesboro.
      1328 Elkin Highway 268, North Wilkesboro, NC 28659
      View Details
    • $699,000
      26,468 SF

      Versatile Commercial Property, North Wilkesboro

      26,000+ sq ft commercial property with warehouse and office space.
      1328 Elkin Highway 268, North Wilkesboro, NC 28659
      View Details
    • $69,000
      528 SF

      North Wilkesboro Commercial Building

      Commercial building suitable for retail or office space.
      645 Boone Trail, North Wilkesboro, NC 28659
      View Details
    • $500,000

      Professional Office Building Near Hospital

      Well-maintained brick office building near hospital, strong investment potential.
      527 West Park Circle, North Wilkesboro, NC 28659
      View Details
    • $500,000

      Professional Office Building Near Hospital

      Well-maintained office building near hospital, ideal for medical professionals.
      527 West Park Circle, North Wilkesboro, NC 28659
      View Details
    • $500,000
      2,189 SF

      Professional Office Building Near Hospital

      Well-maintained office building near hospital, ideal for medical professionals.
      527 West Park Circle, North Wilkesboro, NC 28659
      View Details
    • $2,579,000
      10,125 SF

      CVS Pharmacy Investment Opportunity

      NNN leased CVS Pharmacy with corporate guaranty and long-term income.
      240 Sparta Rd, North Wilkesboro, NC 28659
      View Details
    • $1,158,621
      8,075 SF

      Advance Auto Parts For Sale

      8,075 SF building on 1.05-acre lot with long-term lease.
      625 2nd St, North Wilkesboro, NC 28659
      View Details
    • $2,525,000
      10,640 SF

      Retail Space For Sale

      10,640 SqFt retail space with 6.50% CAP rate.
      6103 River Rd Liberty Grove Rd, Wilkeboro, NC 28659
      View Details
    • $850,000

      Storage Units For Sale

      90+ storage units available in a great location.
      204 Vance Street, North Wilkesboro, NC 28659
      View Details

    FAQs

    What type of property is this?
    Apartment building - 12-unit multifamily property on 7.7 acres, renovated in 2024.
    Where is this apartment building located?
    The property is located at 110 Village Drive North Wilkesboro, NC.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: Renovated in 2024: Featuring new HVAC systems, windows, tubs, cabinets, flooring, and light fixtures.; 12‑unit multifamily property: Consisting of six 1‑bedroom and six 2‑bedroom units.; Brick construction: All units are brick, offering durability and low maintenance.
    (828) 493-5090
    We can help!
    Listing Contact
    Casey West
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    110 Village Drive, North Wilkesboro, NC 28659
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!