Renovated
For Sale
$449,999
Pending
14 Mills Avenue NW, Concord, NC 28027
Four-unit multifamily property with recent renovations and access to I-85 and Concord Parkway.
Property Size1,949 SF
Days on Market98
Property Features for 14 Mills Avenue NW
General Information
Standard status
Pending
Size
1,949 SF
Property subtype
Fourplex
Additional Details
Highway Access
Yes
Amenities
Architectural Shingle
Public Sewer
Additional parcels description:, Parcel Number: 5612-90-0302-0000, Assessed Value: $358,210
Carpet, Vinyl, Wood
Wall Unit(s), Window Unit(s)
Wall Furnace
Electric Dryer Hookup, In Unit, Laundry Room
Listing ID: CAR4403802, Standard Status: Active Under Contract, MLS Status: Under Contract-Show, Property Subtype: Fourplex, 78 days on market, Special Conditions: None
4 open parking spaces, Driveway
Elementary School: Winecoff, Middle School: Northwest Cabarrus, High School: Northwest Cabarrus
4 total bedrooms
Built in 1949, Living area: 2716, Construction Materials: Vinyl
County/Parish: Cabarrus
4 full bathrooms
Water Source: City
Crawl Space
Allowed: Conditional
All Utilities
Road Responsibility: Publicly Maintained Road, Road Surface: Gravel, Paved
Patio/Porch Features: Patio, Porch
Electric Oven, Electric Water Heater, Refrigerator
Building Details
Building Size
1,949 SF
Year Built
1949
Tenancy
Multi
Listing Agency:
Oaktree Real Estate
Listed By:
James Nieman
(704) 363-0422
Source:
Blackstreaminternational
Added: Jul 30
Changed: Nov 3
Last Checked: Nov 3 at 7:06AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-unit multifamily property at 14 Mills Avenue NW in Concord, North Carolina, contains 2,716 square feet and was built in 1949. Each unit has been renovated within the past three years, providing a recently updated configuration across the property.
The property is approximately 10–12 minutes from Downtown Concord, with access to I-85 and Concord Parkway. Its four-unit layout and recent unit renovations provide a clear multifamily profile for evaluating residential income use.
The property is approximately 10–12 minutes from Downtown Concord, with access to I-85 and Concord Parkway. Its four-unit layout and recent unit renovations provide a clear multifamily profile for evaluating residential income use.
Key Highlights
- Four‑unit multifamily property
- All four units renovated within the past three years
- 2,716 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,890
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,800
$577.8K
Cap Rate 7%
$412,714
$412.7K
Cap Rate 9%
$321,000
$321.0K
Market Conditions
NOI Build-Up for 2,716 SF
Gross rent
$44.0K $16.20/SF
− Vacancy
−$2.7K −$1.00/SF
EGI
$41.3K $15.20/SF
− OpEx
−$12.4K −$4.56/SF
NOI
$28.9K $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 Rate 5%
$577,800
Cap Rate 7%
$412,714
Cap Rate 9%
$321,000
Alternative Uses
Best Use
Multifamily LT 5
$412.7K
$361.1K – $481.5K
NOI $28,890 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$381.1K
$333.5K – $444.7K
NOI $26,680 @ 7.0% cap · market cap 5.93%
Theoretical Best
Specialty Retail
$740.1K
$647.6K – $863.5K
NOI $51,809 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Explore this area
Business Placement
Demographics for 28027, NC
76,478
Population
31,450
Households
2.4
Avg Household Size
36
Median Age
43%
College-Educated
92%
High-School Grad
69.0 sq mi
ZIP Area
1,108
Density / Sq Mi
$89,101
Median Household Income
$48,976
Median Earnings
$1,433
Median Rent
$341,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property with recent renovations and access to I-85 and Concord Parkway.
Where is this quadplex located?
The property is located at 14 Mills Avenue NW Concord, NC.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: Four‑unit multifamily property; All four units renovated within the past three years; 2,716 square feet
