Remodeled Triplex with Updated
For Sale
$415,000
911 Hickory Grove Rd, Gastonia, NC 28056
Three occupied two-bedroom units include one renovated interior.
Property Size3,146 SF
Price / SF$131.91
Days on Market14
Property Features for 911 Hickory Grove Rd
General Information
Standard status
Active
Size
3,146 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
rocking chair front porches
Building Details
Year Built
1958
Listing Agency:
Moss Realty
(704) 898-6965
Listed By:
Katy Moss · License #264147
Source:
Highperformancerea
Added: Aug 16
Changed: Aug 28
Last Checked: Aug 28 at 1:02PM
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 Moss Realty
Investment Insights
Based on property information with market context.
Built in 1958, this 3,146-square-foot triplex contains three residential units, each configured with two bedrooms and one bathroom. One unit has undergone a full renovation with new flooring, a refreshed kitchen, and an updated bathroom. Updated HVAC systems serve all three units, and residents are currently in place.
The property is located at 911 Hickory Grove Rd in Gastonia, North Carolina. Unit layouts include functional floorplans, and the residences feature rocking-chair front porches. The combination of three similarly configured units and one substantially improved interior provides a clear overview of the existing asset.
The property is located at 911 Hickory Grove Rd in Gastonia, North Carolina. Unit layouts include functional floorplans, and the residences feature rocking-chair front porches. The combination of three similarly configured units and one substantially improved interior provides a clear overview of the existing asset.
Key Highlights
- Three‑unit triplex with 2 bedrooms and 1 bathroom per unit
- 3,146 square feet on 911 Hickory Grove Rd, Gastonia, NC 28056
- One unit fully remodeled with new flooring, updated kitchen, and renovated bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,476
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$729,520
$729.5K
Cap Rate 7%
$521,086
$521.1K
Cap Rate 9%
$405,289
$405.3K
Market Conditions
NOI Build-Up for 3,146 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.6K $18.00/SF
− Vacancy
−$4.5K −$1.44/SF
EGI
$52.1K $16.56/SF
− OpEx
−$15.6K −$4.97/SF
NOI
$36.5K $11.59/SF
Area
Gaston County, NC
Vacancy
7.98%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$729,520
Cap Rate 7%
$521,086
Cap Rate 9%
$405,289
Alternative Uses
Best Use
Multifamily LT 5
$521.1K
$456.0K – $607.9K
NOI $36,476 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$475.5K
$416.1K – $554.7K
NOI $33,284 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$990.2K
$866.4K – $1.16M
NOI $69,313 @ 7.0% cap · market cap 16.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 28056, NC
34,332
Population
14,415
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
90%
High-School Grad
48.3 sq mi
ZIP Area
711
Density / Sq Mi
$90,422
Median Household Income
$48,531
Median Earnings
$1,097
Median Rent
$283,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied two-bedroom units include one renovated interior.
Where is this triplex located?
The property is located at 911 Hickory Grove Rd Gastonia, NC.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Three‑unit triplex with 2 bedrooms and 1 bathroom per unit; 3,146 square feet on 911 Hickory Grove Rd, Gastonia, NC 28056; One unit fully remodeled with new flooring, updated kitchen, and renovated bathroom
