Live-Work Property with Detached
164 New York Avenue Peachland, NC 28133
164 New York Avenue, Peachland, NC, 28133
$450,000
For Sale
$450,000
Updated brick ranch home plus a detached studio apartment with separate 2-car garage on a 1.2-acre multi-use site.
Property Size2,231 SF
Lot Size1.20 Acres
Price / SF$201.70
Days on Market113
Property Features for 164 New York Avenue
General Information
- Standard status
- Active
- Size
- 2,231 SF
- Lot size
- 1.20 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1972
Listing agency
COLDWELL BANKER REALTY
(704) 541-5111
Listed by
PAMELA WARD
Source
Corcoran
Added: Apr 2 Updated: Jul 22 at 9:17AM Checked: Jul 22 at 9:17AM
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 REALTY
Investment Insights
Based on property information with market context.
An updated one-owner full-brick ranch home anchors this 1.2-acre multi-use property, featuring a newly renovated kitchen with modern cabinetry, countertops, backsplash, and stainless-steel appliances. The residence also includes updated baths, spacious living areas, a brick-paver sunroom, abundant storage, and an oversized garage.
A detached studio apartment sits on-site with its own 2-car garage, providing flexibility for rental income, guest use, or on-site workspace. The property is grandfathered as residential but is zoned Highway Business, supporting a range of commercial or mixed-use possibilities.
Positioned just 2 miles from Union County, this live-work setup offers two distinct structures for a combined residential and potential commercial strategy.
A detached studio apartment sits on-site with its own 2-car garage, providing flexibility for rental income, guest use, or on-site workspace. The property is grandfathered as residential but is zoned Highway Business, supporting a range of commercial or mixed-use possibilities.
Positioned just 2 miles from Union County, this live-work setup offers two distinct structures for a combined residential and potential commercial strategy.
Key Highlights
- 1.2‑acre multi‑use property with a one‑owner full‑brick ranch home built in 1972
- Newly renovated kitchen with modern cabinetry, countertops, backsplash, and stainless‑steel appliances
- Updated baths plus spacious living areas and a brick‑paver sunroom
Local Financial Insights For Office B
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 | $58.1k | $26.04 |
| − Vacancy | −$5.9k | −$2.66 |
| EGI | $52.2k | $23.38 |
| − OpEx | −$13.0k | −$5.85 |
| NOI | $39.1k | $17.54 |
2,231 SF · lease $26.04/SF/yr · vacancy 10.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$559.0K
$489.1K – $652.1K
NOI $39,127 @ 7.0% cap · market cap 8.69%
Second Best
Mixed Use
$457.4K
$400.2K – $533.7K
NOI $32,019 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$702.2K
$614.4K – $819.2K
NOI $49,153 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Updated brick ranch home plus a detached studio apartment with separate 2-car garage on a 1.2-acre multi-use site.
Where is this duplex located?
The property is located at 164 New York Avenue Peachland, NC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1.2‑acre multi‑use property with a one‑owner full‑brick ranch home built in 1972; Newly renovated kitchen with modern cabinetry, countertops, backsplash, and stainless‑steel appliances; Updated baths plus spacious living areas and a brick‑paver sunroom
