Building Details

Year Renovated 2026

Buildings 2

Units 6

Tenancy Multi

Listing Agency: NAI Piedmont Triad

Listed By: Will Blackwell · License #137286 Show Phone

Source: Crexi

Added: Jul 3 Changed: Oct 3 Last Checked: Oct 15 at 12:12AM

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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.

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 / Yr

$59,400

Cap Rate

8.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,188,000 $1.2M

Cap Rate 7%

$848,571 $848.6K

Cap Rate 9%

$660,000 $660.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,000 SF

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 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 (±1% cap)

NOI $59,400 @ 7.0% cap · market cap 8.80%

Second Best

Retail

$843.4K

$738.0K – $984.0K (±1% cap)

NOI $59,037 @ 7.0% cap · market cap 8.75%

Theoretical Best

Office A

$1.98M

$1.73M – $2.31M (±1% cap)

NOI $138,473 @ 7.0% cap · market cap 20.51%

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

Property Analytics

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Current Use

Mutual Drug Patient ... Pharmacy Mitchell's Discount Drug Pharmacy

Suggested Use

Top Pick Law Firm Restaurant Parking Lot & Garage Big Box & Wholesale Store Spa & Massage Center Bakery

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

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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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 $675,000.

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