Lake-View
For Sale
$399,900
500 Steel Bridge Loop, Hickory, NC 28601
Two-level property with paired living spaces and convenient access to Lake Hickory Marina and Wittenburg boat access.
Property Size1,688 SF
Price / SF$236.91
Days on Market20
Property Features for 500 Steel Bridge Loop
General Information
Standard status
Active
Size
1,688 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1981
Stories
2
Construction
Deltec
Listing Agency:
Lake Homes Realty LLC
(828) 514-6076
Listed By:
Glenn Fisher · License #270991
Source:
Highperformancerea
Added: Aug 12
Changed: Aug 30
Last Checked: Aug 31 at 7:47PM
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 Lake Homes Realty LLC
Investment Insights
Based on property information with market context.
This 1,688-square-foot duplex is arranged across two levels, with each level offering two bedrooms, one full bathroom, and an open kitchen and living area. The Deltec home was built in 1981 and features abundant natural light along with year-round views of Lake Hickory.
Located at 500 Steel Bridge Loop in Hickory, the property is within walking distance of Lake Hickory Marina and Wittenburg boat access. Its layout provides two separately configured residential levels while maintaining a consistent two-bedroom, one-bath arrangement throughout.
Located at 500 Steel Bridge Loop in Hickory, the property is within walking distance of Lake Hickory Marina and Wittenburg boat access. Its layout provides two separately configured residential levels while maintaining a consistent two-bedroom, one-bath arrangement throughout.
Key Highlights
- 1,688‑square‑foot duplex with two residential levels
- Each level includes 2 bedrooms, 1 full bathroom, and an open kitchen and living area
- Year‑round views of Lake Hickory
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
$15,246
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
3.81%
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%
$304,920
$304.9K
Cap Rate 7%
$217,800
$217.8K
Cap Rate 9%
$169,400
$169.4K
Market Conditions
NOI Build-Up for 1,688 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
$23.3K $13.80/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$21.8K $12.90/SF
− OpEx
−$6.5K −$3.87/SF
NOI
$15.2K $9.03/SF
Area
Catawba County, NC
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$304,920
Cap Rate 7%
$217,800
Cap Rate 9%
$169,400
Alternative Uses
Best Use
Multifamily LT 5
$217.8K
$190.6K – $254.1K
NOI $15,246 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$202.4K
$177.1K – $236.1K
NOI $14,168 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$493.1K
$431.5K – $575.3K
NOI $34,516 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Explore this area
Business Placement
Demographics for 28601, NC
53,973
Population
23,400
Households
2.3
Avg Household Size
42
Median Age
35%
College-Educated
90%
High-School Grad
47.1 sq mi
ZIP Area
1,146
Density / Sq Mi
$67,839
Median Household Income
$41,697
Median Earnings
$951
Median Rent
$236,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level property with paired living spaces and convenient access to Lake Hickory Marina and Wittenburg boat access.
Where is this duplex located?
The property is located at 500 Steel Bridge Loop Hickory, NC.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1,688‑square‑foot duplex with two residential levels; Each level includes 2 bedrooms, 1 full bathroom, and an open kitchen and living area; Year‑round views of Lake Hickory
