Mixed-Use Property with Rental
For Sale
$299,900
1203 Northup Street, Reidsville, NC 27320
Mixed-use property with income potential near hospitals and restaurants.
Property Size1,600 SF
Price / SF$187.44
Days on Market562
Property Features for 1203 Northup Street
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial
Amenities
Corner Lot
City Lot
Building Details
Year Built
1977
Listing Agency:
CENTURY 21 THE KNOWLES TEAM
(336) 342-2022
Listed By:
TERESA S. KNOWLES · License #169794
(336) 613-8835
Source:
Corcoran
Added: Feb 19, 2025
Changed: Aug 14
Last Checked: Sep 4 at 8:23AM
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.
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
$15,840
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
5.28%
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%
$316,800
$316.8K
Cap Rate 7%
$226,286
$226.3K
Cap Rate 9%
$176,000
$176.0K
Market Conditions
NOI Build-Up for 1,600 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
$28.8K $18.00/SF
− Vacancy
−$3.5K −$2.16/SF
EGI
$25.3K $15.84/SF
− OpEx
−$9.5K −$5.94/SF
NOI
$15.8K $9.90/SF
Area
Rockingham County, NC
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$316,800
Cap Rate 7%
$226,286
Cap Rate 9%
$176,000
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 27320, NC
37,843
Population
17,876
Households
2.1
Avg Household Size
44
Median Age
17%
College-Educated
85%
High-School Grad
244.9 sq mi
ZIP Area
155
Density / Sq Mi
$55,491
Median Household Income
$37,258
Median Earnings
$776
Median Rent
$170,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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.
