Building Details

Year Built 2008

Year Renovated 2020

Units 16

Listing Agency: APARTMENT CORE

Listed By: Mike Siciliano · License #NC

Source: Crexi

Added: Jul 7 Changed: Oct 14 Last Checked: Oct 14 at 8:15PM

Report an Issue

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 APARTMENT CORE

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This apartment building comprises 25,600 square feet and was constructed in 2008. The property is identified as student housing and is located at 35 Kivett Road in Lillington, North Carolina.

Key Highlights

• 25,600‑square‑foot apartment building
• Student housing property
• Built in 2008

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$193,689

Cap Rate

4.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,873,780 $3.9M

Cap Rate 7%

$2,766,986 $2.8M

Cap Rate 9%

$2,152,100 $2.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 25,600 SF

Gross rent

$377.9K $14.76/SF

− Vacancy

−$25.7K −$1.00/SF

EGI

$352.2K $13.76/SF

− OpEx

−$158.5K −$6.19/SF

NOI

$193.7K $7.57/SF

Area

Harnett County, NC

Vacancy

6.80%

Lease Rate

$14.76 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,873,780

Cap Rate 7%

$2,766,986

Cap Rate 9%

$2,152,100

Alternative Uses

Best Use

Apartment 5plus

$2.77M

$2.42M – $3.23M (±1% cap)

NOI $193,689 @ 7.0% cap · market cap 4.85%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$5.57M

$4.88M – $6.50M (±1% cap)

NOI $390,095 @ 7.0% cap · market cap 9.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Grocery & Convenience Store Bakery Auto Repair Shop Hair Salon Nail Salon Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

178

Businesses Nearby

Explore this area Business Placement

Demographics for 27546, NC

20,637

Population

7,933

Households

2.6

Avg Household Size

37

Median Age

26%

College-Educated

89%

High-School Grad

122.5 sq mi

ZIP Area

168

Density / Sq Mi

$61,781

Median Household Income

$39,914

Median Earnings

$1,079

Median Rent

$227,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Similar For Sale Nearby

See more

36-Unit Apartment Community

601 Main Street, Lillington, NC 27546

$4,950,000

46,400 SF

View details

Leased Riverfront Restaurant Property

100 S Main St, Lillington, NC 27546

$1,400,000

2,322 SF

View details

Storefront with Flexible Open Space

432 E Cornelius Harnett Boulevard E, Lillington, NC 27546

$950,000

3,101 SF

View details

Downtown Corner Storefront Property

1209 S Main St, Lillington, NC 27546

$325,000

3,231 SF

View details

Storefront Property with Parking

5628 Us Hwy 421 S, Lillington, NC 27546

$375,000

1,700 SF

View details

Frequently Asked Questions

What type of property is this?

Apartment building - The property is identified as student housing and dates to 2008.

Where is this apartment building located?

The property is located at 35 Kivett Road Lillington, NC.

What is the asking price?

The asking price for this property is $3,995,000.

What are key features of this property?

This property features: 25,600‑square‑foot apartment building; Student housing property; Built in 2008