Four-Unit
New
For Sale
$269,900
208 Sharpe Road, Sharpsburg, NC 27878
Residential Income, Sharpsburg, NC
Property Size2,376 SF
Lot Size0.28 Acres
Price / SF$113.59
Days on Market3
Property Features for 208 Sharpe Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Residential
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Half bathrooms
4
Rooms
Bedroom 2, Bedroom 7, Bedroom 8, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 5, Bathroom 6, Bathroom 8, Bathroom 2, Bathroom 4, Bedroom 1, Bathroom 7, Bedroom 6, Bedroom 3
Subdivision
Not In Subdivision
Elementary school
Coopers
Middle school
Nash Central
High school
Nash Central
Directions
Take 301 South, turn right on Sharpe Road.
Standard status
Active
APN
374719516114
Size
2,376 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
1Lt, 45 Blk A edgewood Park split out of 374718419632 1 Lt, 44 Blk A Edgewood Park split out of 374718419632
Legal Description
1Lt, 45 Blk A edgewood Park split out of 374718419632 1 Lt, 44 Blk A Edgewood Park split out of 374718419632
Utilities
Utilities
Water Available
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
2
Number of units
4
Building materials
Brick, Vinyl Siding, Wood Frame
Roof type
Composition
Listing Agency:
THORNE REALTY, INC.
(252) 446-6195
Listed By:
Donna Bailey · License #209292
(252) 813-2705
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 19 at 7:06PM
MLS# 100604187
Copyright © 2026 Hive 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 2,376-square-foot quadplex contains four two-bedroom units, providing a total of eight bedrooms and eight bathrooms. Built in 1985, the property uses brick, vinyl siding, and wood-frame construction, with composition roofing and forced-air heating. Central air conditioning serves the building, and public water is available.
The property occupies 0.277 acres at 208 Sharpe Road in Sharpsburg, Nash County, North Carolina. Its residential zoning and existing multi-unit configuration establish the property’s current residential income use. The building includes eight bedrooms and eight bathrooms across the four units, with each unit identified as a two-bedroom layout.
The property occupies 0.277 acres at 208 Sharpe Road in Sharpsburg, Nash County, North Carolina. Its residential zoning and existing multi-unit configuration establish the property’s current residential income use. The building includes eight bedrooms and eight bathrooms across the four units, with each unit identified as a two-bedroom layout.
Key Highlights
- Four units, each with two bedrooms
- 2,376 square feet on 0.277 acres
- Eight bedrooms and eight bathrooms total
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
$23,662
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
8.77%
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%
$473,240
$473.2K
Cap Rate 7%
$338,029
$338.0K
Cap Rate 9%
$262,911
$262.9K
Market Conditions
NOI Build-Up for 2,376 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
$36.2K $15.24/SF
− Vacancy
−$2.4K −$1.01/SF
EGI
$33.8K $14.23/SF
− OpEx
−$10.1K −$4.27/SF
NOI
$23.7K $9.96/SF
Area
Nash County, NC
Vacancy
6.65%
Lease Rate
$15.24 /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%
$473,240
Cap Rate 7%
$338,029
Cap Rate 9%
$262,911
Alternative Uses
Best Use
Multifamily LT 5
$338.0K
$295.8K – $394.4K
NOI $23,662 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$300.0K
$262.5K – $350.0K
NOI $21,001 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 20.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 27878, NC
1,323
Population
591
Households
2.2
Avg Household Size
42
Median Age
6%
College-Educated
77%
High-School Grad
0.8 sq mi
ZIP Area
1,654
Density / Sq Mi
$37,801
Median Household Income
$28,990
Median Earnings
$963
Median Rent
$102,500
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?
Quadplex - Brick, vinyl siding, and wood-frame construction support a four-unit residential property with public water service.
Where is this quadplex located?
The property is located at 208 Sharpe Road Sharpsburg, NC.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Four units, each with two bedrooms; 2,376 square feet on 0.277 acres; Eight bedrooms and eight bathrooms total
