Four-Unit Quadplex
For Sale
$479,900
112 Freeze Avenue NW, Concord, NC 28025
Two detached duplex buildings provide four residential units on one parcel.
Property Size2,424 SF
Price / SF$197.98
Days on Market50
Property Features for 112 Freeze Avenue NW
General Information
Standard status
Active
Size
2,424 SF
Property subtype
Fourplex
Amenities
Size: 0.34, Size Units: Acres
Man Level Garage: 0
Details: Window Unit(s)
Heating: Heat Pump
Description: Electric Dryer Hookup, Washer Hookup
Days on Market: 19, Listing Price: 479900, Status: Active
Elementary: Unspecified, Middle/Junior High: Concord, High School: Concord
Total Bathrooms: 4
Finished Area Above Grade: 2424, Area: 2424, Building Area: 2424, Construction Materials: Aluminum, Vinyl, Year Built: 1935, Construction Type: Site Built
City: Concord, State: NC, Zip: 28025, County: Cabarrus
Full Bathrooms: 4
Sewer: Public Sewer, Water Source: City
Description: Conditional
Auction Y/N: 0
Description: Electric Oven, Electric Water Heater, Refrigerator
Building Details
Building Size
2,424 SF
Year Built
1935
Buildings
2
Tenancy
Multi
Listing Agency:
Oaktree Real Estate
Listed By:
James Nieman
(704) 363-0422
Source:
Blackstreaminternational
Added: Jul 30
Changed: Sep 17
Last Checked: Sep 16 at 5:58PM
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 Oaktree Real Estate
Investment Insights
Based on property information with market context.
This quadplex property comprises two separate duplex buildings with four residential units in total. The buildings are situated on one parcel and were constructed in 1935. The property is being sold as-is, making the existing building configuration an important consideration for prospective buyers.
The property is located at 112 and 114 Freeze Avenue NW in Concord, North Carolina. Its setting places the asset near downtown Concord, shopping, dining, employment centers, and major roadways. The total property size is 2,424 square feet. Buyers and their agents should independently verify unit layouts, bedroom and bathroom counts, leases, utilities, zoning, permitted use, and physical condition.
The property is located at 112 and 114 Freeze Avenue NW in Concord, North Carolina. Its setting places the asset near downtown Concord, shopping, dining, employment centers, and major roadways. The total property size is 2,424 square feet. Buyers and their agents should independently verify unit layouts, bedroom and bathroom counts, leases, utilities, zoning, permitted use, and physical condition.
Key Highlights
- Four total residential units across two separate duplex buildings
- 2,424‑square‑foot property
- Built in 1935
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
$25,784
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
5.37%
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%
$515,680
$515.7K
Cap Rate 7%
$368,343
$368.3K
Cap Rate 9%
$286,489
$286.5K
Market Conditions
NOI Build-Up for 2,424 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
$39.3K $16.20/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$36.8K $15.20/SF
− OpEx
−$11.1K −$4.56/SF
NOI
$25.8K $10.64/SF
Area
Concord, NC
Vacancy
6.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$515,680
Cap Rate 7%
$368,343
Cap Rate 9%
$286,489
Alternative Uses
Best Use
Multifamily LT 5
$368.3K
$322.3K – $429.7K
NOI $25,784 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$340.2K
$297.6K – $396.9K
NOI $23,811 @ 7.0% cap · market cap 4.96%
Theoretical Best
Specialty Retail
$660.6K
$578.0K – $770.7K
NOI $46,239 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
727
Businesses Nearby
Explore this area
Business Placement
Demographics for 28025, NC
58,260
Population
23,759
Households
2.5
Avg Household Size
38
Median Age
33%
College-Educated
91%
High-School Grad
108.4 sq mi
ZIP Area
537
Density / Sq Mi
$79,271
Median Household Income
$43,167
Median Earnings
$1,223
Median Rent
$264,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two detached duplex buildings provide four residential units on one parcel.
Where is this quadplex located?
The property is located at 112 Freeze Avenue NW Concord, NC.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Four total residential units across two separate duplex buildings; 2,424‑square‑foot property; Built in 1935
