Renovated Quadplex with Flex
For Sale
$599,000
1101 N Main St, Salisbury, NC 28144
All four residences are rented and include one bedroom, two bathrooms, and adaptable bonus space.
Property Size3,852 SF
Price / SF$155.50
Days on Market103
Property Features for 1101 N Main St
General Information
Standard status
Active
Size
3,852 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 1BR/2BA
Multifamily Units
4
Amenities
laundry room
Building Details
Year Built
1947
Buildings
1
Construction
full brick
Listing Agency:
Apex Realty Of The Carolinas Inc
Listed By:
Sharetha Holman sharetha.holman@gmail.com · License #244433
(980) 297-8161
Source:
Judy.lakenormanhomeguide
Added: Jul 19
Changed: Oct 26
Last Checked: Oct 28 at 8:49AM
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 Apex Realty Of The Carolinas Inc
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Investment Insights
Based on property information with market context.
Located at 1101 N Main St in Salisbury, this 3,852-square-foot quadplex combines a full-brick exterior with a complete renovation. Built in 1947, the property contains four one-bedroom residences, each with two bathrooms and an additional flex or office area. The adaptable space can support work, study, hobbies, or everyday living needs.
A shared laundry room adds two coin-operated washers and two coin-operated dryers. All units are currently rented, providing an established operating configuration for a multifamily owner. The property’s four-unit layout, individual bonus areas, and on-site laundry create a practical combination of residential functionality and shared amenities.
A shared laundry room adds two coin-operated washers and two coin-operated dryers. All units are currently rented, providing an established operating configuration for a multifamily owner. The property’s four-unit layout, individual bonus areas, and on-site laundry create a practical combination of residential functionality and shared amenities.
Key Highlights
- Four‑unit quadplex with all units currently rented
- 3,852 SF full‑brick property built in 1947
- Each unit includes 1 bedroom and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,792
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$695,840
$695.8K
Cap Rate 7%
$497,029
$497.0K
Cap Rate 9%
$386,578
$386.6K
Market Conditions
NOI Build-Up for 3,852 SF
Gross rent
$53.2K $13.80/SF
− Vacancy
−$3.5K −$0.90/SF
EGI
$49.7K $12.90/SF
− OpEx
−$14.9K −$3.87/SF
NOI
$34.8K $9.03/SF
Area
Rowan County, NC
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$695,840
Cap Rate 7%
$497,029
Cap Rate 9%
$386,578
Alternative Uses
Best Use
Multifamily LT 5
$497.0K
$434.9K – $579.9K
NOI $34,792 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$448.2K
$392.2K – $522.9K
NOI $31,373 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,867 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
471
Businesses Nearby
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Business Placement
Demographics for 28144, NC
26,254
Population
12,655
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
89%
High-School Grad
30.1 sq mi
ZIP Area
872
Density / Sq Mi
$51,432
Median Household Income
$29,787
Median Earnings
$982
Median Rent
$205,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are rented and include one bedroom, two bathrooms, and adaptable bonus space.
Where is this quadplex located?
The property is located at 1101 N Main St Salisbury, NC.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Four‑unit quadplex with all units currently rented; 3,852 SF full‑brick property built in 1947; Each unit includes 1 bedroom and 2 bathrooms
