Building Details

Year Built 2021

Tenancy Multi

Listing Agency: RE/MAX Executive

Listed By: Cherie Burris · License #236844 Show Phone

Source: Lewisandkirk

Added: Jul 26 Changed: Oct 3 Last Checked: Oct 7 at 1:59PM

Report an Issue

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 RE/MAX Executive

Investment Insights

Based on property information with market context.

This 3,045-square-foot duplex was built in 2021 and is configured as townhome-style residences. The described layout places the kitchen at the center of an open main living area, with white shaker cabinetry, granite countertops, a breakfast bar, pantry, and stainless steel appliances. LVP flooring serves the primary living spaces, while carpet covers the stairs and upper-level areas. The floor plan includes three bedrooms, two-and-a-half baths, an upstairs laundry closet, a primary suite, two additional bedrooms, and a single-car garage with an oversized two-car driveway.

Both units are leased under one-year terms with options to extend. Tenants are responsible for utilities, lawn care, and trash service. The property is located at 112 Angle St in Cherryville, North Carolina.

Key Highlights

• 3,045‑square‑foot duplex built in 2021
• Both units leased for 1‑year terms with options to extend
• Three‑bedroom, 2.5‑bath townhome‑style layout

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,305

Cap Rate

7.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$706,100 $706.1K

Cap Rate 7%

$504,357 $504.4K

Cap Rate 9%

$392,278 $392.3K

Market Conditions

NOI Build-Up for 3,045 SF

Gross rent

$54.8K $18.00/SF

− Vacancy

−$4.4K −$1.44/SF

EGI

$50.4K $16.56/SF

− OpEx

−$15.1K −$4.97/SF

NOI

$35.3K $11.59/SF

Area

Gaston County, NC

Vacancy

7.98%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$706,100

Cap Rate 7%

$504,357

Cap Rate 9%

$392,278

Alternative Uses

Best Use

Multifamily LT 5

$504.4K

$441.3K – $588.4K (±1% cap)

NOI $35,305 @ 7.0% cap · market cap 7.43%

Second Best

Apartment 5plus

$460.2K

$402.7K – $536.9K (±1% cap)

NOI $32,215 @ 7.0% cap · market cap 6.78%

Theoretical Best

Office A

$958.4K

$838.6K – $1.12M (±1% cap)

NOI $67,087 @ 7.0% cap · market cap 14.12%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Law Firm Dental Office Electrical Service Big Box & Wholesale Store Kitchen & Bath Showroom Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

350

Businesses Nearby

Explore this area Business Placement

Demographics for 28021, NC

13,669

Population

6,306

Households

2.2

Avg Household Size

44

Median Age

22%

College-Educated

89%

High-School Grad

58.8 sq mi

ZIP Area

232

Density / Sq Mi

$57,652

Median Household Income

$37,703

Median Earnings

$874

Median Rent

$196,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Three-Unit Storefront Property

1000 E Main St, Cherryville, NC 28021

$499,000

5,040 SF

View details

Two-Building Storefront Property

105 And 107 E Main St, Cherryville, NC 28021

$425,000

6,378 SF

View details

Downtown Cherryville Brick Office Building

106 N Mountain Street, Cherryville, NC 28021

$220,000

2,001 SF

View details

Single Tenant Net Lease AutoZone

1102 E Church St, Cherryville, NC 28021

$1,287,000

View details

Former Credit Union Office Building

416 S Main St, Cherryville, NC

Contact for pricing

4,800 SF

View details

Spacious Industrial Facility on 10 Acres

900 W Academy St, Cherryville, NC 28021

$1,300,000

75,000 SF

View details

Medical Office with Exam Rooms

112 S Oak Street, Cherryville, NC 28021

$849,000

0.50 Acres

View details

Frequently Asked Questions

What type of property is this?

Duplex - Both units are leased for one-year terms with options to extend.

Where is this duplex located?

The property is located at 112 Angle St Cherryville, NC.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: 3,045‑square‑foot duplex built in 2021; Both units leased for 1‑year terms with options to extend; Three‑bedroom, 2.5‑bath townhome‑style layout