Five-Building Duplex
For Sale
$2,219,500
207 N Sellers Street, Selma, NC 27576
Commercial Sale, Selma, NC
Property Size16,930 SF
Lot Size1.21 Acres
Price / SF$131.10
Days on Market85
Property Features for 207 N Sellers Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RES
Parking
28
Subdivision
Not in a Subdivision
Standard status
Active
Size
16,930 SF
Lot size
1.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
207 N Sellers M15l8a
Tax Annual Amount
4175
Legal Description
207 N Sellers M15l8a
Building Details
Year built
2023
Floors in Building
2
Building materials
Frame, Vinyl Siding
Listing Agency:
Next Stage Realty
(919) 533-9797
Listed By:
Chris Murphy · License #293540
(781) 724-7223
Added: Jul 3
Changed: Sep 4
Last Checked: Sep 25 at 10:06PM
MLS# 10177976
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This residential income property comprises five duplex buildings containing 10 residences on approximately 1.21 acres. The improvements total 16,930 square feet and feature frame construction with vinyl siding. The buildings were developed as contemporary multifamily housing, with individual residences offering either three-bedroom, two-and-a-half-bath or four-bedroom, two-and-a-half-bath layouts; the stated unit mix applies to five units and is not extended to the full residence count.
The property is located at 207 N Sellers Street in downtown Selma, Johnston County, North Carolina. RES zoning is identified for the site. The five-building group may be acquired together, in smaller groupings, or individually, subject to availability.
The property is located at 207 N Sellers Street in downtown Selma, Johnston County, North Carolina. RES zoning is identified for the site. The five-building group may be acquired together, in smaller groupings, or individually, subject to availability.
Key Highlights
- Five duplex buildings with 10 residences
- 16,930 square feet of improvements on 1.21 acres
- Three‑bedroom, 2.5‑bath and four‑bedroom, 2.5‑bath residences identified
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
$172,529
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
7.77%
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%
$3,450,580
$3.5M
Cap Rate 7%
$2,464,700
$2.5M
Cap Rate 9%
$1,916,989
$1.9M
Market Conditions
NOI Build-Up for 16,930 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
$260.0K $15.36/SF
− Vacancy
−$13.6K −$0.80/SF
EGI
$246.5K $14.56/SF
− OpEx
−$73.9K −$4.37/SF
NOI
$172.5K $10.19/SF
Area
Johnston County, NC
Vacancy
5.22%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
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%
$3,450,580
Cap Rate 7%
$2,464,700
Cap Rate 9%
$1,916,989
Alternative Uses
Best Use
Multifamily LT 5
$2.46M
$2.16M – $2.88M
NOI $172,529 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$2.13M
$1.86M – $2.48M
NOI $148,885 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$5.12M
$4.48M – $5.98M
NOI $358,521 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 27576, NC
17,568
Population
7,911
Households
2.2
Avg Household Size
37
Median Age
18%
College-Educated
84%
High-School Grad
81.3 sq mi
ZIP Area
216
Density / Sq Mi
$62,044
Median Household Income
$39,262
Median Earnings
$874
Median Rent
$178,200
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
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Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with multiple duplex improvements and flexible acquisition options.
Where is this duplex located?
The property is located at 207 N Sellers Street Selma, NC.
What is the asking price?
The asking price for this property is $2,219,500.
What are key features of this property?
This property features: Five duplex buildings with 10 residences; 16,930 square feet of improvements on 1.21 acres; Three‑bedroom, 2.5‑bath and four‑bedroom, 2.5‑bath residences identified
