Listing Agency: Buyer's Agency and Consulting, Inc.

Listed By: Rick Baker · License #NC

Source: Crexi

Added: Apr 11 Changed: Aug 23 Last Checked: Sep 5 at 12:45PM

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Investment Insights

Based on property information with market context.

This former roadside motel conversion built in 1962 has been adapted into a multifamily configuration with an adjacent restaurant building. Through the course of ongoing upgrades, six of the nine units have been partially refurbished to date, and the current owner is continuing improvements including window replacements with double-pane units, exterior repainting, and roof work across the property. The apartment building is constructed of brick and includes six studio apartments plus one former single-family housing unit, while the adjacent restaurant building is constructed of cinderblock and is a two-story structure.

The property is situated on a 2.95-acre site per tax records, with highway setbacks reducing the useable area to 1.07 acres. It is located at the intersection of Highway 29 N and Old Reidsville Road, providing north and south access to Highway 29. The apartment building and restaurant space do not have central HVAC; each apartment is heated and cooled via freestanding floor units.

Additional income is supported by a ground lease for a highway billboard and annual rentals of outside area for fireworks sales. The property is served by a well and septic system, with the well refurbished in January 2023 including a new pump, plumbing, and electrical.

Key Highlights

• Brick apartment building with approx. 3,825 SF: 6 studio apartments (~387.5 SF each) plus one former single‑family unit (~1,500 SF).
• Adjacent two‑story restaurant building (built 1947) plus one studio apartment on the ground floor and an approx. 858 SF apartment upstairs.
• Former roadside motel conversion built in 1962; six of nine units have been partially refurbished to date.

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Auto Repair Shop HVAC Service Real Estate Agency Garden Center Daycare Center Discount Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

9

Residential units

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Explore this area Business Placement

Demographics for 27214, NC

12,417

Population

5,992

Households

2.1

Avg Household Size

40

Median Age

30%

College-Educated

91%

High-School Grad

51.3 sq mi

ZIP Area

242

Density / Sq Mi

$78,482

Median Household Income

$37,400

Median Earnings

$1,178

Median Rent

$298,200

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?

Apartment building - Brick multifamily property with an adjacent two-story restaurant building and partial unit refurbishments.

Where is this apartment building located?

The property is located at 7732 & 7734 US Highway 29 Browns Summit, NC.

What are key features of this property?

This property features: Brick apartment building with approx. 3,825 SF: 6 studio apartments (~387.5 SF each) plus one former single‑family unit (~1,500 SF).; Adjacent two‑story restaurant building (built 1947) plus one studio apartment on the ground floor and an approx. 858 SF apartment upstairs.; Former roadside motel conversion built in 1962; six of nine units have been partially refurbished to date.