14-Unit Townhome-Style Apartment
801 E Main Street, Aberdeen, NC 28315
For Sale
$2,150,000
Two- and three-bedroom residences are arranged in a mix of single- and two-story layouts.
Property Size15,082 SF
Lot Size2.70 Acres
Price / SF$142.55
Days on Market32
Property Features for 801 E Main Street
General Information
Standard status
Size
Lot size
Property subtype
Lease Term
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Rain Gutters
Building Details
Building Size
Year Built
Stories
Listing Agency:
Deaton Investment Real Estate
(919) 847-1117
Listed By:
Thomas Furlow · License #222598
(919) 412-3913
Source:
Dwellraleigh
Added: Oct 7
Changed: Nov 6
Last Checked: Nov 6 at 3:05AM
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 Deaton Investment Real Estate
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Investment Insights
Based on property information with market context.
This 15,082-square-foot apartment property contains 14 townhome-style residences with two- and three-bedroom configurations. Four homes are single-story, while ten are arranged across two stories. The community was built in 1968 and occupies approximately 2.7 acres at 801 E Main Street in Aberdeen, North Carolina.
Zoning allows for up to 23 dwelling units, subject to applicable requirements and buyer verification. The property is situated within the Southern Pines-Pinehurst-Aberdeen corridor, with access to employers, healthcare, retail, and recreation in the area.
Zoning allows for up to 23 dwelling units, subject to applicable requirements and buyer verification. The property is situated within the Southern Pines-Pinehurst-Aberdeen corridor, with access to employers, healthcare, retail, and recreation in the area.
Key Highlights
- 14 apartment residences
- Two- and three‑bedroom unit mix
- Four single‑story homes and ten two‑story homes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,947
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,658,940
$2.7M
Cap Rate 7%
$1,899,243
$1.9M
Cap Rate 9%
$1,477,189
$1.5M
Market Conditions
NOI Build-Up for 15,082 SF
Gross rent
$253.4K $16.80/SF
− Vacancy
−$11.7K −$0.77/SF
EGI
$241.7K $16.03/SF
− OpEx
−$108.8K −$7.21/SF
NOI
$132.9K $8.81/SF
Area
Moore County, NC
Vacancy
4.60%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,658,940
Cap Rate 7%
$1,899,243
Cap Rate 9%
$1,477,189
Alternative Uses
Best Use
Apartment 5plus
$1.90M
$1.66M – $2.22M
NOI $132,947 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.87M
$2.51M – $3.35M
NOI $201,169 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
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Business Placement
Demographics for 28315, NC
13,500
Population
6,350
Households
2.1
Avg Household Size
37
Median Age
31%
College-Educated
93%
High-School Grad
65.0 sq mi
ZIP Area
208
Density / Sq Mi
$73,079
Median Household Income
$45,644
Median Earnings
$1,131
Median Rent
$279,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two- and three-bedroom residences are arranged in a mix of single- and two-story layouts.
Where is this apartment building located?
The property is located at 801 E Main Street Aberdeen, NC.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 14 apartment residences; Two- and three‑bedroom unit mix; Four single‑story homes and ten two‑story homes
