Three-Unit Triplex with
For Sale
$275,000
84 Falls Ave, Granite Falls, NC 28630
Three separate two-bedroom residences include city utilities, outdoor decks, and a covered parking area for one unit.
Property Size2,021 SF
Price / SF$136.07
Days on Market48
Property Features for 84 Falls Ave
General Information
Standard status
Active
Size
2,021 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
private decks
carport
Building Details
Year Built
1969
Listed By:
Leigh Brown
(704) 705-7036
Source:
Onecommunity
Added: Sep 16
Changed: Oct 26
Last Checked: Nov 1 at 5:58AM
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 Leigh Brown
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Investment Insights
Based on property information with market context.
Built in 1969, this triplex contains three separate residences, each arranged with two bedrooms and one bathroom. City water and sewer serve the property. Two units have private decks, while the third includes a carport, creating distinct outdoor and parking features across the building.
The property is located at 84 Falls Ave in Granite Falls, near Hwy 321. That corridor provides access to Hickory, Hudson, and Lenoir, along with shopping, dining, employment, and everyday services. The three-unit configuration offers a defined multifamily format with consistent two-bedroom layouts.
The property is located at 84 Falls Ave in Granite Falls, near Hwy 321. That corridor provides access to Hickory, Hudson, and Lenoir, along with shopping, dining, employment, and everyday services. The three-unit configuration offers a defined multifamily format with consistent two-bedroom layouts.
Key Highlights
- Three separate units, each with 2 bedrooms and 1 bathroom
- Two units include private decks
- One unit includes a carport
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,133
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,660
$302.7K
Cap Rate 7%
$216,186
$216.2K
Cap Rate 9%
$168,144
$168.1K
Market Conditions
NOI Build-Up for 2,021 SF
Gross rent
$23.0K $11.40/SF
− Vacancy
−$1.4K −$0.70/SF
EGI
$21.6K $10.70/SF
− OpEx
−$6.5K −$3.21/SF
NOI
$15.1K $7.49/SF
Area
Caldwell County, NC
Vacancy
6.17%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,660
Cap Rate 7%
$216,186
Cap Rate 9%
$168,144
Alternative Uses
Best Use
Multifamily LT 5
$216.2K
$189.2K – $252.2K
NOI $15,133 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$199.5K
$174.6K – $232.8K
NOI $13,968 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$461.2K
$403.6K – $538.1K
NOI $32,284 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Explore this area
Business Placement
Demographics for 28630, NC
19,772
Population
9,220
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
82%
High-School Grad
61.0 sq mi
ZIP Area
324
Density / Sq Mi
$65,713
Median Household Income
$41,407
Median Earnings
$808
Median Rent
$197,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate two-bedroom residences include city utilities, outdoor decks, and a covered parking area for one unit.
Where is this triplex located?
The property is located at 84 Falls Ave Granite Falls, NC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Three separate units, each with 2 bedrooms and 1 bathroom; Two units include private decks; One unit includes a carport
