Duplex with Separate
New
For Sale
$275,000
2646 Campground Rd, Granite Falls, NC 28630
Two-level units include separate living and sleeping areas, kitchens, laundry space, and full bathrooms.
Property Size2,160 SF
Price / SF$127.31
Days on Market5
Property Features for 2646 Campground Rd
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Multi-Family
Building Details
Year Built
1962
Construction
brick
Listed By:
Lynn Alvarez
(704) 975-2429
Source:
Livingingreatercharlotte
Added: Oct 1
Last Checked: Oct 4 at 9:38AM
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 Lynn Alvarez
Investment Insights
Based on property information with market context.
This brick duplex contains two separate units, each arranged across a main level and a lower level with exterior access from both. Each unit has a kitchen, dining area, bedroom, and full bathroom upstairs, with a second bedroom, living area, laundry area, and full bathroom downstairs. Heating is provided by baseboard units, with window air conditioning. The building was constructed in 1962 and contains 2,160 square feet.
The property is in the Dudley Shoals community, a few minutes from Hickory, Hudson, and Lenoir. A separate lot is also part of the offering and is described as buildable. The owner covers water service and lawn maintenance.
The property is in the Dudley Shoals community, a few minutes from Hickory, Hudson, and Lenoir. A separate lot is also part of the offering and is described as buildable. The owner covers water service and lawn maintenance.
Key Highlights
- Two units, each with exterior access on the main and lower levels
- Each unit has two bedrooms and two full bathrooms
- Brick construction; built in 1962
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
$16,173
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
5.88%
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%
$323,460
$323.5K
Cap Rate 7%
$231,043
$231.0K
Cap Rate 9%
$179,700
$179.7K
Market Conditions
NOI Build-Up for 2,160 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
$24.6K $11.40/SF
− Vacancy
−$1.5K −$0.70/SF
EGI
$23.1K $10.70/SF
− OpEx
−$6.9K −$3.21/SF
NOI
$16.2K $7.49/SF
Area
Caldwell County, NC
Vacancy
6.17%
Lease Rate
$11.40 /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%
$323,460
Cap Rate 7%
$231,043
Cap Rate 9%
$179,700
Alternative Uses
Best Use
Multifamily LT 5
$231.0K
$202.2K – $269.6K
NOI $16,173 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$213.3K
$186.6K – $248.8K
NOI $14,929 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$492.9K
$431.3K – $575.1K
NOI $34,505 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
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Business Placement
Demographics for 28630, NC
19,772
Population
9,220
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
82%
High-School Grad
61.0 sq mi
ZIP Area
324
Density / Sq Mi
$65,713
Median Household Income
$41,407
Median Earnings
$808
Median Rent
$197,800
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?
Duplex - Two-level units include separate living and sleeping areas, kitchens, laundry space, and full bathrooms.
Where is this duplex located?
The property is located at 2646 Campground Rd Granite Falls, NC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two units, each with exterior access on the main and lower levels; Each unit has two bedrooms and two full bathrooms; Brick construction; built in 1962
