Apartment Building with 18
For Sale
$639,900
1012 S Main St, Burlington, NC 27215
Three-level property with shared kitchen facilities, four full bathrooms, and OI zoning supporting multifamily residential uses.
Property Size5,800 SF
Price / SF$110.33
Days on Market685
Property Features for 1012 S Main St
General Information
Standard status
Active
Size
5,800 SF
Property subtype
Multi-Family
Building Details
Year Built
1933
Listing Agency:
COLDWELL BANKER - HP&W
Listed By:
Bryan Guarnieri · License #299470
(919) 906-4840
Source:
Searchhomesinthetriad
Added: Nov 28, 2024
Changed: Oct 1
Last Checked: Oct 12 at 7:51PM
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 COLDWELL BANKER - HP&W
Investment Insights
Based on property information with market context.
Built in 1933, this 5,800-square-foot apartment building is configured with 18 rooms distributed across three floors, along with a kitchen and four full bathrooms. The property is currently operated as a rooming house, with most rooms occupied under month-to-month arrangements.
The building is located at 1012 S Main St in Burlington, North Carolina. OI zoning is identified for office uses, research and development facilities, corporate headquarters, and multifamily residential uses in single-building and multi-building developments. The existing room configuration and shared facilities provide a defined operating layout for the property.
The building is located at 1012 S Main St in Burlington, North Carolina. OI zoning is identified for office uses, research and development facilities, corporate headquarters, and multifamily residential uses in single-building and multi-building developments. The existing room configuration and shared facilities provide a defined operating layout for the property.
Key Highlights
- 18 rooms arranged with 6 rooms per floor
- 5,800‑square‑foot building constructed in 1933
- Kitchen and 4 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,058
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$921,160
$921.2K
Cap Rate 7%
$657,971
$658.0K
Cap Rate 9%
$511,756
$511.8K
Market Conditions
NOI Build-Up for 5,800 SF
Gross rent
$89.1K $15.36/SF
− Vacancy
−$5.3K −$0.92/SF
EGI
$83.7K $14.44/SF
− OpEx
−$37.7K −$6.50/SF
NOI
$46.1K $7.94/SF
Area
Alamance County, NC
Vacancy
6.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$921,160
Cap Rate 7%
$657,971
Cap Rate 9%
$511,756
Alternative Uses
Best Use
Apartment 5plus
$658.0K
$575.7K – $767.6K
NOI $46,058 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,857 @ 7.0% cap · market cap 20.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
956
Businesses Nearby
Explore this area
Business Placement
Demographics for 27215, NC
44,620
Population
21,854
Households
2
Avg Household Size
42
Median Age
37%
College-Educated
92%
High-School Grad
63.1 sq mi
ZIP Area
707
Density / Sq Mi
$66,669
Median Household Income
$45,267
Median Earnings
$1,112
Median Rent
$241,700
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?
Apartment building - Three-level property with shared kitchen facilities, four full bathrooms, and OI zoning supporting multifamily residential uses.
Where is this apartment building located?
The property is located at 1012 S Main St Burlington, NC.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: 18 rooms arranged with 6 rooms per floor; 5,800‑square‑foot building constructed in 1933; Kitchen and 4 full bathrooms
