12-Unit Multifamily Apartment
For Sale
Contact for pricing
315 Hall Lane, Pineville, NC 28134
Twelve-unit apartment community with all units occupied, offering a mix of one- and two-bedroom layouts.
Property Size9,250 SF
Price / SF$259.46
Days on Market108
Property Features for 315 Hall Lane
General Information
Standard status
Active
Size
9,250 SF
Property subtype
Multifamily
Zoning
R-7
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$159,168
Additional Details
Multifamily Units
12
Building Details
Year Built
1972
Year Renovated
2023
Buildings
2
Units
12
Tenancy
Multi
Listing Agency:
HRC Partners, LLC
Listed By:
Ronny Chakra · License #322716
Source:
Crexi
Added: May 30
Changed: Aug 20
Last Checked: Sep 13 at 7:32AM
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 HRC Partners, LLC
Investment Insights
Based on property information with market context.
This 12-unit multifamily apartment community is 100% occupied and consists of four two-bedroom units and eight one-bedroom units. The property has benefited from major capital improvements, and ownership has successfully increased rents on six of the units. The remaining six units are positioned for continued rent adjustments going forward.
Located in Pineville, North Carolina at 315 Hall Lane, the community is described as conveniently near Charlotte’s major employment centers, shopping, and transportation corridors. While the listing does not provide further site specifics, the unit mix and current occupancy provide a straightforward operational profile for an owner-operator or investor.
For buyers seeking a stabilized, occupied income property with an existing unit mix, this community may fit well. The fact pattern supports a two-part approach: rents have been increased on half of the units, while the other half represent the area where further rent growth is expected through future adjustments. Please do not disturb tenants.
Located in Pineville, North Carolina at 315 Hall Lane, the community is described as conveniently near Charlotte’s major employment centers, shopping, and transportation corridors. While the listing does not provide further site specifics, the unit mix and current occupancy provide a straightforward operational profile for an owner-operator or investor.
For buyers seeking a stabilized, occupied income property with an existing unit mix, this community may fit well. The fact pattern supports a two-part approach: rents have been increased on half of the units, while the other half represent the area where further rent growth is expected through future adjustments. Please do not disturb tenants.
Key Highlights
- 12‑unit apartment community with all units occupied (100% occupied)
- Unit mix: 4 two‑bedroom units and 8 one‑bedroom units
- Year built: 1972
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
$69,343
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
2.89%
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%
$1,386,860
$1.4M
Cap Rate 7%
$990,614
$990.6K
Cap Rate 9%
$770,478
$770.5K
Market Conditions
NOI Build-Up for 9,250 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
$137.6K $14.88/SF
− Vacancy
−$11.6K −$1.25/SF
EGI
$126.1K $13.63/SF
− OpEx
−$56.7K −$6.13/SF
NOI
$69.3K $7.50/SF
Area
Mecklenburg County, NC
Vacancy
8.40%
Lease Rate
$14.88 /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%
$1,386,860
Cap Rate 7%
$990,614
Cap Rate 9%
$770,478
Alternative Uses
Best Use
Apartment 5plus
$990.6K
$866.8K – $1.16M
NOI $69,343 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,225 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Explore this area
Business Placement
Demographics for 28134, NC
12,411
Population
5,299
Households
2.3
Avg Household Size
37
Median Age
45%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
1,495
Density / Sq Mi
$82,947
Median Household Income
$45,076
Median Earnings
$1,694
Median Rent
$336,200
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?
Apartment building - Twelve-unit apartment community with all units occupied, offering a mix of one- and two-bedroom layouts.
Where is this apartment building located?
The property is located at 315 Hall Lane Pineville, NC.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 12‑unit apartment community with all units occupied (100% occupied); Unit mix: 4 two‑bedroom units and 8 one‑bedroom units; Year built: 1972
