Side-by-Side Duplex
For Sale
Contact for pricing
Pending
701 2nd Street Place Southwest, Conover, NC 28613
Two newly constructed side-by-side duplexes offer four total residential units on adjacent parcels.
Property Size3,672 SF
Days on Market133
Property Features for 701 2nd Street Place Southwest
General Information
Standard status
Pending
Size
3,672 SF
Property subtype
Multifamily
Zoning
R-9
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
2026
Buildings
2
Units
4
Listing Agency:
Gladysh Realty
Listed By:
Viktoriya Gladysh · License #342929
4294588
Source:
Crexi
Added: Jun 10
Changed: Oct 12
Last Checked: Oct 19 at 4:19AM
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 Gladysh Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering includes two newly constructed duplexes positioned side-by-side, providing four total residential units across adjacent parcels. The properties are presented as low-maintenance multifamily investments with modern construction and rental-oriented floor plans.
The duplexes are located at 701-703 2nd St Pl SW and 707-709 2nd St Pl SW in Conover, North Carolina. The location is described as just minutes from Downtown Conover, Interstate 40, US-70, and nearby shopping, dining, and major employment centers, with access to the greater Hickory Metro area.
As a combined portfolio, the configuration supports straightforward management across four units within the same contiguous acquisition footprint.
The duplexes are located at 701-703 2nd St Pl SW and 707-709 2nd St Pl SW in Conover, North Carolina. The location is described as just minutes from Downtown Conover, Interstate 40, US-70, and nearby shopping, dining, and major employment centers, with access to the greater Hickory Metro area.
As a combined portfolio, the configuration supports straightforward management across four units within the same contiguous acquisition footprint.
Key Highlights
- Two newly constructed side‑by‑side duplexes in Conover, NC (4 total residential units).
- Located at 701–703 2nd St Pl SW and 707–709 2nd St Pl SW on adjacent parcels for simplified management.
- Year built 2026 with modern construction and low‑maintenance exteriors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,166
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$663,320
$663.3K
Cap Rate 7%
$473,800
$473.8K
Cap Rate 9%
$368,511
$368.5K
Market Conditions
NOI Build-Up for 3,672 SF
Gross rent
$50.7K $13.80/SF
− Vacancy
−$3.3K −$0.90/SF
EGI
$47.4K $12.90/SF
− OpEx
−$14.2K −$3.87/SF
NOI
$33.2K $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 Rate 5%
$663,320
Cap Rate 7%
$473,800
Cap Rate 9%
$368,511
Alternative Uses
Best Use
Multifamily LT 5
$473.8K
$414.6K – $552.8K
NOI $33,166 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$440.3K
$385.3K – $513.7K
NOI $30,820 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.07M
$938.6K – $1.25M
NOI $75,085 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 28613, NC
22,970
Population
10,222
Households
2.2
Avg Household Size
41
Median Age
20%
College-Educated
85%
High-School Grad
42.4 sq mi
ZIP Area
542
Density / Sq Mi
$55,690
Median Household Income
$38,932
Median Earnings
$822
Median Rent
$208,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two newly constructed side-by-side duplexes offer four total residential units on adjacent parcels.
Where is this duplex located?
The property is located at 701 2nd Street Place Southwest Conover, 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: Two newly constructed side‑by‑side duplexes in Conover, NC (4 total residential units).; Located at 701–703 2nd St Pl SW and 707–709 2nd St Pl SW on adjacent parcels for simplified management.; Year built 2026 with modern construction and low‑maintenance exteriors.
