Adjacent Mixed-Use
For Sale
Contact for pricing
544 Morgan Road, Eden, NC 27288
Two-building property combines commercial storefronts with residential apartments and six occupied units.
Property Size6,000 SF
Price / SF$133.33
Days on Market60
Property Features for 544 Morgan Road
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Retail, Multifamily, Mixed Use
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$63,400
Building Details
Buildings
2
Units
6
Tenancy
Multi
Listing Agency:
NAI Piedmont Triad
(336) 901-3452
Listed By:
Phil Tockman · License #NC
Source:
Crexi
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 30 at 9:52PM
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 NAI Piedmont Triad
Investment Insights
Based on property information with market context.
Located at 544 and 546 Morgan Road in Eden, this 6,000-square-foot property includes two adjacent buildings with commercial storefronts and residential apartments. The configuration brings together retail-oriented space and apartment units within one mixed-use asset.
Six units are occupied, providing an existing residential component, while the commercial lease includes contractual rent escalations. The combination of residential and commercial occupancy creates distinct operating components within the property and supports multiple lease relationships.
Six units are occupied, providing an existing residential component, while the commercial lease includes contractual rent escalations. The combination of residential and commercial occupancy creates distinct operating components within the property and supports multiple lease relationships.
Key Highlights
- Two adjacent mixed‑use buildings at 544 and 546 Morgan Road
- 6,000 square feet of combined property size
- Commercial storefronts paired with residential apartments
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
$59,400
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
7.43%
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%
$1,188,000
$1.2M
Cap Rate 7%
$848,571
$848.6K
Cap Rate 9%
$660,000
$660.0K
Market Conditions
NOI Build-Up for 6,000 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
$108.0K $18.00/SF
− Vacancy
−$13.0K −$2.16/SF
EGI
$95.0K $15.84/SF
− OpEx
−$35.6K −$5.94/SF
NOI
$59.4K $9.90/SF
Area
Rockingham County, NC
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,188,000
Cap Rate 7%
$848,571
Cap Rate 9%
$660,000
Alternative Uses
Best Use
Mixed Use
$848.6K
$742.5K – $990.0K
NOI $59,400 @ 7.0% cap · market cap 7.43%
Second Best
Retail
$843.4K
$738.0K – $984.0K
NOI $59,037 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,473 @ 7.0% cap · market cap 17.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 27288, NC
23,375
Population
11,127
Households
2.1
Avg Household Size
45
Median Age
13%
College-Educated
85%
High-School Grad
71.4 sq mi
ZIP Area
327
Density / Sq Mi
$53,081
Median Household Income
$36,743
Median Earnings
$828
Median Rent
$129,200
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?
Mixed-use property - Two-building property combines commercial storefronts with residential apartments and six occupied units.
Where is this mixed-use property located?
The property is located at 544 Morgan Road Eden, NC.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Two adjacent mixed‑use buildings at 544 and 546 Morgan Road; 6,000 square feet of combined property size; Commercial storefronts paired with residential apartments
