Eight-Unit One-Bedroom
916 Bromley Rd Charlotte, NC 28207
For Sale
Contact for pricing
Eight one-bedroom apartment/condo units with 2016 system upgrades and current leasing in Charlotte’s Myers Park.
Property Size5,600 SF
Price / SF$339.29
Days on Market40
Property Features for 916 Bromley Rd
General Information
- Standard status
- Active
- Size
- 5,600 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1924
Listing Agency:
Britt Commercial Real Estate
Listed By:
Zachary Britt · License #NC 315119
Source:
Crexi
Added: Jun 15
Changed: Jul 21
Last Checked: Jul 23 at 4:08PM
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 Britt Commercial Real Estate
Investment Insights
Based on property information with market context.
916 Bromley Rd is an eight-unit, one-bedroom apartment/condominium building with an owner-controlled configuration in which the current owner holds all eight condo units. The property underwent a thorough renovation in 2016, including upgrades of all building systems. The building sits on nearly half an acre with a mature tree canopy.
Located in the northern gateway of Myers Park in Charlotte, the address is described as walkable to neighborhood amenities that serve area residents.
Offered for sale as a single asset, this multifamily property presents an in-place income stream supported by the 2016 system upgrades and an owner-held condo structure for the full number of units.
Located in the northern gateway of Myers Park in Charlotte, the address is described as walkable to neighborhood amenities that serve area residents.
Offered for sale as a single asset, this multifamily property presents an in-place income stream supported by the 2016 system upgrades and an owner-held condo structure for the full number of units.
Key Highlights
- Eight‑unit one‑bedroom apartment/condominium building built in 1924
- Nearly half‑acre lot with mature tree canopy
- Current owner holds all eight condo units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.4k | $23.28 |
| − Vacancy | −$7.2k | −$1.28 |
| EGI | $123.2k | $22.00 |
| − OpEx | −$55.4k | −$9.90 |
| NOI | $67.8k | $12.10 |
5,600 SF · lease $23.28/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$968.0K
$847.0K – $1.13M
NOI $67,759 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.18M
NOI $130,537 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Eight one-bedroom apartment/condo units with 2016 system upgrades and current leasing in Charlotte’s Myers Park.
Where is this apartment building located?
The property is located at 916 Bromley Rd Charlotte, NC.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Eight‑unit one‑bedroom apartment/condominium building built in 1924; Nearly half‑acre lot with mature tree canopy; Current owner holds all eight condo units
