Renovated Mixed-Use
For Sale
Contact for pricing
215 The Boulevard, Eden, NC 27288
Includes two commercial units and a two-bedroom apartment within a fully leased property.
Property Size6,772 SF
Price / SF$110.75
Days on Market60
Property Features for 215 The Boulevard
General Information
Standard status
Active
Size
6,772 SF
Property subtype
Mixed Use
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$64,000
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Building Details
Year Renovated
2026
Units
3
Tenancy
Multi
Listing Agency:
NAI Piedmont Triad
(336) 901-3452
Listed By:
Will Blackwell · License #137286
Source:
Crexi
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 30 at 11:08PM
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 NAI Piedmont Triad
Investment Insights
Based on property information with market context.
Located at 215 The Boulevard in Eden, North Carolina, this mixed-use property contains approximately 6,772 square feet across two commercial units and one two-bedroom apartment. The building was fully renovated in 2026, with new systems and fixtures incorporated into the improvements.
All three components are fully leased, combining commercial and residential occupancy within one property. The address places the asset in Eden’s Boulevard District, providing a defined local setting for the mixed-use configuration.
All three components are fully leased, combining commercial and residential occupancy within one property. The address places the asset in Eden’s Boulevard District, providing a defined local setting for the mixed-use configuration.
Key Highlights
- Approximately +/- 6,772 square feet
- Two commercial units plus one two‑bedroom apartment
- Fully leased mixed‑use property
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
$67,043
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
8.94%
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%
$1,340,860
$1.3M
Cap Rate 7%
$957,757
$957.8K
Cap Rate 9%
$744,922
$744.9K
Market Conditions
NOI Build-Up for 6,772 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
$121.9K $18.00/SF
− Vacancy
−$14.6K −$2.16/SF
EGI
$107.3K $15.84/SF
− OpEx
−$40.2K −$5.94/SF
NOI
$67.0K $9.90/SF
Area
Rockingham County, NC
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,340,860
Cap Rate 7%
$957,757
Cap Rate 9%
$744,922
Alternative Uses
Best Use
Mixed Use
$957.8K
$838.0K – $1.12M
NOI $67,043 @ 7.0% cap · market cap 8.94%
Second Best
Retail
$951.9K
$832.9K – $1.11M
NOI $66,633 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,289 @ 7.0% cap · market cap 20.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
2,643 visits/mo
0.2 miles
Demographics for 27288, NC
23,375
Population
11,127
Households
2.1
Avg Household Size
45
Median Age
13%
College-Educated
85%
High-School Grad
71.4 sq mi
ZIP Area
327
Density / Sq Mi
$53,081
Median Household Income
$36,743
Median Earnings
$828
Median Rent
$129,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes two commercial units and a two-bedroom apartment within a fully leased property.
Where is this mixed-use property located?
The property is located at 215 The Boulevard Eden, NC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Approximately +/- 6,772 square feet; Two commercial units plus one two‑bedroom apartment; Fully leased mixed‑use property
