Triplex with Separate Electrical
360 Island Rd Harkers Island, NC 28531
360 Island Rd, Harkers Island, NC, 28531
Contact for pricing
For Sale
Contact for pricing
Three-unit triplex with individual electrical meters; two units are suited for short-term rentals and one unit is vacant.
Property Size2,643 SF
Price / SF$283.77
Days on Market92
Property Features for 360 Island Rd
General Information
- Standard status
- Active
- Size
- 2,643 SF
- Property subtype
- Hospitality, Mixed Use, Multifamily
Building Details
- Year Built
- 1969
Listing agency
Inner Banks Properties
(252) 226-9818
Listed by
Ross Beebe · License #NC
Source
Crexi
Added: Apr 22 Updated: Jul 21 at 1:17PM Checked: Jul 22 at 1:30PM
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 Inner Banks Properties
Investment Insights
Based on property information with market context.
This triplex at 360 Island Rd includes three separate units, each served by its own electrical meter. Two units are already suited for short-term rental use, while the third unit is vacant and rent-ready. A further electrical meter toward the back of the property provides additional flexibility for future expansion, with buyer to verify specific options.
The property is located on the main road through Harkers Island. Updates include durable LVP flooring throughout all units and fresh paint in unit 1.
The seller states no known restrictions were found in over 20 years of deed history, and the property has been booked primarily through word-of-mouth rather than online platforms.
The property is located on the main road through Harkers Island. Updates include durable LVP flooring throughout all units and fresh paint in unit 1.
The seller states no known restrictions were found in over 20 years of deed history, and the property has been booked primarily through word-of-mouth rather than online platforms.
Key Highlights
- Three‑unit triplex at 360 Island Road with Year Built 1969
- Two units are configured for short‑term rental use; third unit is vacant and rent‑ready
- Each of the three units has its own electrical meter for separate rentals or multi‑generational use
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.9k | $13.20 |
| − Vacancy | −$2.3k | −$0.86 |
| EGI | $32.6k | $12.34 |
| − OpEx | −$9.8k | −$3.70 |
| NOI | $22.8k | $8.64 |
2,643 SF · lease $13.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$326.2K
$285.4K – $380.6K
NOI $22,834 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$305.2K
$267.0K – $356.0K
NOI $21,362 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$792.9K
$693.8K – $925.1K
NOI $55,503 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Coastal Rental Company ...
Vacation Rental
FAQs
What type of property is this?
Triplex - Three-unit triplex with individual electrical meters; two units are suited for short-term rentals and one unit is vacant.
Where is this triplex located?
The property is located at 360 Island Rd Harkers Island, 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: Three‑unit triplex at 360 Island Road with Year Built 1969; Two units are configured for short‑term rental use; third unit is vacant and rent‑ready; Each of the three units has its own electrical meter for separate rentals or multi‑generational use
