Rented Duplex with CC-1
1921 24th St NE Hickory, NC 28601
1921 24th St NE, Hickory, NC, 28601
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For Sale
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Two-unit duplex is currently rented and zoned CC-1, with commercial conversion requiring city approval steps.
Property Size1,700 SF
Price / SF$146.47
Days on Market154
Property Features for 1921 24th St NE
General Information
- Standard status
- Active
- Size
- 1,700 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1965
Listing agency
Commercial First
(828) 322-8022
Listed by
Jenny Eckard · License #NC 271955
Source
Crexi
Added: Feb 17 Updated: Jul 21 at 2:13AM Checked: Jul 21 at 12:02PM
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 Commercial First
Investment Insights
Based on property information with market context.
This currently rented duplex offers immediate income as a two-unit residential income property. The property is zoned CC-1, which allows for a range of commercial uses; however, converting the site to commercial use would require additional steps and consultation with the City of Hickory.
The property is located in a growing corridor of Hickory near Springs Road and adjacent retail and service amenities including Walmart Neighborhood Market, Sheetz, Starbucks, and Walgreens. The site is also projected to be impacted by future DOT road widening, though no finalized maps are currently available; buyers are advised to consult DOT for details.
The property is located in a growing corridor of Hickory near Springs Road and adjacent retail and service amenities including Walmart Neighborhood Market, Sheetz, Starbucks, and Walgreens. The site is also projected to be impacted by future DOT road widening, though no finalized maps are currently available; buyers are advised to consult DOT for details.
Key Highlights
- Two‑unit duplex built in 1965 and currently rented
- Zoned CC‑1, allowing a range of commercial uses
- Commercial conversion would require additional steps and consultation with the City of Hickory
Local Financial Insights For Multifamily LT 5
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 | $23.5k | $13.80 |
| − Vacancy | −$1.5k | −$0.90 |
| EGI | $21.9k | $12.90 |
| − OpEx | −$6.6k | −$3.87 |
| NOI | $15.4k | $9.03 |
1,700 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$219.4K
$191.9K – $255.9K
NOI $15,355 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$203.8K
$178.4K – $237.8K
NOI $14,268 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$496.6K
$434.5K – $579.4K
NOI $34,762 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit duplex is currently rented and zoned CC-1, with commercial conversion requiring city approval steps.
Where is this duplex located?
The property is located at 1921 24th St NE Hickory, NC.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1965 and currently rented; Zoned CC‑1, allowing a range of commercial uses; Commercial conversion would require additional steps and consultation with the City of Hickory
