315 Hamilton Dr Concord, NC 28025
- Commercial real estate
- 7,508 SF
- 0.65 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 315 Hamilton Dr
- Year built
- 1973
- Lot size
- 0.65 lot acres
- Property size
- 7,508 SF
- Property type
- Commercial real estate
- APN
- 5621-72-8692-0000
Description
This exceptional 8-unit apartment building, located at 315 Hamilton Dr NE in Concord, NC, presents a compelling investment opportunity. Built in 1973 and extensively renovated in 2024, this Class B property boasts 7,508 square feet on a 0.65-acre lot, offering a strong net operating income (NOI) of $125,640 and a 7.41% cap rate. The asking price is $1,695,000, translating to $225.76 per square foot and $211,875 per unit. The property includes 15 parking spaces and benefits from a sub-metering system for water and sewer, with tenant responsibility for these utilities, as well as electricity. Landlord responsibilities include trash and landscaping. Seven of the eight units are currently leased, with one unit available for immediate lease. This turnkey property offers excellent income potential once fully occupied. The property's location in the heart of Concord, NC, and its recent renovations make it an attractive investment for both seasoned and new investors. The property features one building and the APN is 5621-72-8692-0000. There is no ground lease.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Concord
- County
- Cabarrus
- State
- North Carolina
- Longitude
- -80.5846396
- Latitude
- 35.4228712
