14-Unit Downtown Multifamily
49 Corban Ave SW Concord, NC 28025
49 Corban Ave SW, Concord, NC, 28025
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For Sale
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Fourteen-unit multifamily property with nine renovated units and substantial capital improvements by current ownership.
Property Size13,536 SF
Price / SF$140.37
Days on Market68
Property Features for 49 Corban Ave SW
General Information
- Standard status
- Active
- Size
- 13,536 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1927
Listing agency
Britt Commercial Real Estate
Listed by
Zachary Britt · License #NC 315119
Source
Crexi
Added: May 15 Updated: Jul 21 at 7:16AM Checked: Jul 21 at 7:16AM
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 Britt Commercial Real Estate
Investment Insights
Based on property information with market context.
This 14-unit multifamily building is offered for sale with in-place income and meaningful unit-level updates. Ownership has renovated nine of the 14 units with modern finishes, and significant capital improvements have been completed during the current ownership period.
The property is positioned directly adjacent to the Downtown Concord Social District. It is surrounded by more than $200M in completed and ongoing public and private investment, supporting a dynamic downtown environment.
For buyers seeking a downtown income property with a track record of renovations, this building provides a clear picture of renovation progress and recent improvements within a larger investment corridor.
The property is positioned directly adjacent to the Downtown Concord Social District. It is surrounded by more than $200M in completed and ongoing public and private investment, supporting a dynamic downtown environment.
For buyers seeking a downtown income property with a track record of renovations, this building provides a clear picture of renovation progress and recent improvements within a larger investment corridor.
Key Highlights
- 14‑unit multifamily property in Downtown Concord, built in 1927
- 9 of 14 units have been renovated with modern finishes
- Substantial capital improvements completed by the current ownership
Local Financial Insights For Apartment 5plus
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 | $256.6k | $18.96 |
| − Vacancy | −$14.9k | −$1.10 |
| EGI | $241.8k | $17.86 |
| − OpEx | −$108.8k | −$8.04 |
| NOI | $133.0k | $9.82 |
13,536 SF · lease $18.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.90M
$1.66M – $2.22M
NOI $132,967 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.69M
$3.23M – $4.30M
NOI $258,206 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fourteen-unit multifamily property with nine renovated units and substantial capital improvements by current ownership.
Where is this apartment building located?
The property is located at 49 Corban Ave SW Concord, NC.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 14‑unit multifamily property in Downtown Concord, built in 1927; 9 of 14 units have been renovated with modern finishes; Substantial capital improvements completed by the current ownership
