Six-Unit Multifamily
For Sale
$1,225,000
3207 Briggs St, Kill Devil Hills, NC 27948
Two-story, commercial-zoned property with established multifamily use and an adjacent parcel included.
Property Size3,558 SF
Price / SF$344.29
Days on Market63
Property Features for 3207 Briggs St
General Information
Standard status
Active
Size
3,558 SF
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$3,838
Building Details
Buildings
1
Stories
2
Listing Agency:
Resort Realty - Frisco
Listed By:
John Head · License #197
(252) 216-7807
Source:
Exprealty
Added: Aug 4
Changed: Sep 5
Last Checked: Oct 4 at 6:10PM
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 Resort Realty - Frisco
Investment Insights
Based on property information with market context.
Located at 3207 Briggs Street in Kill Devil Hills, this two-story multifamily property contains six residential units within approximately 3,558 square feet. The asset is offered with an adjacent parcel identified as Lot 8, Parcel #000022000.
Commercial zoning and established multifamily use define the property's current configuration. The property is near the Atlantic Ocean, major employers, retail, dining, and year-round amenities, with consistent occupancy under current ownership. Its coastal Kill Devil Hills setting places the asset within an established residential and commercial area of the Outer Banks.
Commercial zoning and established multifamily use define the property's current configuration. The property is near the Atlantic Ocean, major employers, retail, dining, and year-round amenities, with consistent occupancy under current ownership. Its coastal Kill Devil Hills setting places the asset within an established residential and commercial area of the Outer Banks.
Key Highlights
- Six‑unit multifamily property in Kill Devil Hills
- Approximately 3,558‑square‑foot, two‑story building
- Adjacent parcel included: Lot 8, Parcel #000022000
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,665
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$973,300
$973.3K
Cap Rate 7%
$695,214
$695.2K
Cap Rate 9%
$540,722
$540.7K
Market Conditions
NOI Build-Up for 3,558 SF
Gross rent
$92.7K $26.04/SF
− Vacancy
−$4.2K −$1.17/SF
EGI
$88.5K $24.87/SF
− OpEx
−$39.8K −$11.19/SF
NOI
$48.7K $13.68/SF
Area
Dare County, NC
Vacancy
4.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$973,300
Cap Rate 7%
$695,214
Cap Rate 9%
$540,722
Alternative Uses
Best Use
Apartment 5plus
$695.2K
$608.3K – $811.1K
NOI $48,665 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$858.8K
$751.5K – $1.00M
NOI $60,116 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Explore this area
Business Placement
Demographics for 27948, NC
12,095
Population
10,143
Households
1.2
Avg Household Size
46
Median Age
43%
College-Educated
96%
High-School Grad
9.3 sq mi
ZIP Area
1,301
Density / Sq Mi
$85,319
Median Household Income
$41,433
Median Earnings
$1,539
Median Rent
$398,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story, commercial-zoned property with established multifamily use and an adjacent parcel included.
Where is this apartment building located?
The property is located at 3207 Briggs St Kill Devil Hills, NC.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Six‑unit multifamily property in Kill Devil Hills; Approximately 3,558‑square‑foot, two‑story building; Adjacent parcel included: Lot 8, Parcel #000022000
