Four-Duplex Residential
114 Coley Rd, Salisbury, NC 28146
For Sale
$1,000,000
Four brick buildings offer a mix of single-level and townhome layouts, with concrete driveways and private rear patios.
Property Size6,984 SF
Lot Size1.31 Acres
Price / SF$143.18
Days on Market48
Property Features for 114 Coley Rd
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Multifamily Units
Amenities
private rear concrete patios
Building Details
Year Built
Buildings
Construction
Listing Agency:
TMR Realty, Inc.
Listed By:
Mechelle Kuld · License NC #280063
(704) 310-6414
Source:
Lewisandkirk
Added: Sep 24
Changed: Oct 25
Last Checked: Oct 7 at 2:28PM
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 TMR Realty, Inc.
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Investment Insights
Based on property information with market context.
The property comprises four brick duplex buildings with eight units across 6,984 square feet. Three buildings have single-story floor plans; the fourth contains two-story townhome-style units. Five units have LVP flooring throughout, while two townhome units have LVP in the kitchens and bathrooms. One unit has not been remodeled. Each unit has a private rear concrete patio, and vapor barriers are installed in all crawlspaces.
Set on a 1.31-acre parcel, the property was built in 1976. Concrete driveways provide on-site parking for occupants.
Set on a 1.31-acre parcel, the property was built in 1976. Concrete driveways provide on-site parking for occupants.
Key Highlights
- Four brick duplexes with eight total units
- 1.31‑acre parcel
- 6,984 square feet; built in 1976
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,080
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,261,600
$1.3M
Cap Rate 7%
$901,143
$901.1K
Cap Rate 9%
$700,889
$700.9K
Market Conditions
NOI Build-Up for 6,984 SF
Gross rent
$96.4K $13.80/SF
− Vacancy
−$6.3K −$0.90/SF
EGI
$90.1K $12.90/SF
− OpEx
−$27.0K −$3.87/SF
NOI
$63.1K $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%
$1,261,600
Cap Rate 7%
$901,143
Cap Rate 9%
$700,889
Alternative Uses
Best Use
Multifamily LT 5
$901.1K
$788.5K – $1.05M
NOI $63,080 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$812.6K
$711.0K – $948.0K
NOI $56,881 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,336 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
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Business Placement
Demographics for 28146, NC
29,572
Population
14,111
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
92%
High-School Grad
97.1 sq mi
ZIP Area
305
Density / Sq Mi
$67,053
Median Household Income
$43,106
Median Earnings
$888
Median Rent
$227,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Four brick buildings offer a mix of single-level and townhome layouts, with concrete driveways and private rear patios.
Where is this duplex located?
The property is located at 114 Coley Rd Salisbury, NC.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four brick duplexes with eight total units; 1.31‑acre parcel; 6,984 square feet; built in 1976
