Mixed-Use Property with Rental
1203 Northup Street Reidsville, NC 27320
1203 Northup Street, Reidsville, NC, 27320
$299,900
For Sale
$299,900
Mixed-use property with income potential near hospitals and restaurants.
Property Size1,600 SF
Price / SF$187.44
Days on Market517
Property Features for 1203 Northup Street
General Information
- Standard status
- Active
- Size
- 1,600 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1977
Listing Agency
CENTURY 21 THE KNOWLES TEAM
(336) 342-2022
Listed by
TERESA S. KNOWLES · License #169794
Source
Corcoran
Added: Feb 19, 2025 Updated: Jul 10 at 3:47 pm Checked: Jul 19 at 4:49 am
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 CENTURY 21 THE KNOWLES TEAM
Investment Insights
Based on property information with market context.
Located on Northup Street, this mixed-use property offers an opportunity for business expansion with additional rental income potential. The building includes 1,600 square feet of space that can be rented out. The two-story building has separate entrances on both levels, with one entrance from Northup Street and another accessible from Pennrose. The property's location provides proximity to hospitals, the medical field, and restaurants. It is also located within a 30-minute drive of Eden, Danville, and Greensboro. A 15ft conference table and chairs in the conference room and desk on the bottom level will remain.
Key Highlights
- Opportunity for rental income with an additional 1,600 sq ft unit.
- Two floors with separate entrances from Northup Street and Pennrose.
- Prime location near hospitals, the medical field, and restaurants.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.8k | $18.00 |
| − Vacancy | −$3.5k | −$2.16 |
| EGI | $25.3k | $15.84 |
| − OpEx | −$9.5k | −$5.94 |
| NOI | $15.8k | $9.90 |
1,600 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$226.3K
$198.0K – $264.0K
NOI $15,840 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$527.5K
$461.6K – $615.4K
NOI $36,926 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
ATTORNEY JAMES REAVES; ...
Law Firm
Tech Authority, LLC
Computer & Electronic Repair
Heirloom Crafters
Tech Support Center
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FAQs
What type of property is this?
Mixed-use property - Mixed-use property with income potential near hospitals and restaurants.
Where is this mixed-use property located?
The property is located at 1203 Northup Street Reidsville, NC.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Opportunity for rental income with an additional 1,600 sq ft unit.; Two floors with separate entrances from Northup Street and Pennrose.; Prime location near hospitals, the medical field, and restaurants.
