Multifamily Property with Commercial
New
For Sale
$339,900
204 E Trade St, Dallas, NC 28034
Currently used as rental homes, with B3-P zoning and walkable access to downtown-area amenities.
Property Size2,600 SF
Lot Size0.59 Acres
Price / SF$130.73
Days on Market7
Property Features for 204 E Trade St
General Information
Standard status
Active
Size
2,600 SF
Lot size
0.59 Acres
Property subtype
Multi-Family
Zoning
B3-P
Additional Details
Road Access
Yes
Building Details
Year Built
1947
Listing Agency:
Coldwell Banker Carver-Pressley, Realtors
Listed By:
Carla Howell · License #129522
(704) 616-0872
Source:
Mycrosskeys
Added: Sep 18
Last Checked: Sep 22 at 7:55PM
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 Carver-Pressley, Realtors
Investment Insights
Based on property information with market context.
This multifamily property at 204 E Trade St is currently operated as rental housing and was built in 1947. The site encompasses .59 acres and carries B3-P zoning, with the source information indicating potential for conversion to commercial use.
Positioned along a primary route into downtown Dallas, the property is within walking distance of restaurants, the library, courthouse, salons, and other downtown services. Its existing residential income use and commercial zoning provide two distinct ways to evaluate the asset, subject to applicable approvals and requirements.
Positioned along a primary route into downtown Dallas, the property is within walking distance of restaurants, the library, courthouse, salons, and other downtown services. Its existing residential income use and commercial zoning provide two distinct ways to evaluate the asset, subject to applicable approvals and requirements.
Key Highlights
- .59‑acre multifamily property at 204 E Trade St
- Built in 1947
- Currently used as rental homes
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
$27,507
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
8.09%
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%
$550,140
$550.1K
Cap Rate 7%
$392,957
$393.0K
Cap Rate 9%
$305,633
$305.6K
Market Conditions
NOI Build-Up for 2,600 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
$54.6K $21.00/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$50.0K $19.24/SF
− OpEx
−$22.5K −$8.66/SF
NOI
$27.5K $10.58/SF
Area
Gaston County, NC
Vacancy
8.40%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
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%
$550,140
Cap Rate 7%
$392,957
Cap Rate 9%
$305,633
Alternative Uses
Best Use
Apartment 5plus
$393.0K
$343.8K – $458.5K
NOI $27,507 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$818.3K
$716.0K – $954.7K
NOI $57,283 @ 7.0% cap · market cap 16.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
Explore this area
Business Placement
Demographics for 28034, NC
19,258
Population
8,085
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
86%
High-School Grad
45.6 sq mi
ZIP Area
422
Density / Sq Mi
$59,969
Median Household Income
$42,804
Median Earnings
$841
Median Rent
$221,000
Median Home Value
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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?
Multifamily property - Currently used as rental homes, with B3-P zoning and walkable access to downtown-area amenities.
Where is this multifamily property located?
The property is located at 204 E Trade St Dallas, NC.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: .59‑acre multifamily property at 204 E Trade St; Built in 1947; Currently used as rental homes
