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Imperial Lofts 202 S Main St 16 Unit Apartment Building $6,000,000 ($375,000/Unit) 6.41% Cap Rate Belmont, NC 28012
INVESTMENT HIGHLIGHTS
- Seven (7) First-Floor Commercial Retail Spaces and Nine (9) Two-Story Residential Loft Units
- Average Unit Size: 1,120 SF & Commercial: 552 SF
- Current Avg Rent: $2,388 | Market Stabilized Rent: $2,436 (Retail + Residential Rent)
- Annual Rent Bumps of 3% will Full PRS Reimbursement & WALT of 5.5 Years from Retail Leases
- Residential Unit Mix: (2) One Bed/One Bath & (7) Two Bed/1.5 Bath Units
- Current Year-1 Tax-Adjusted Cap Rate: 6.00% | Stabilized Cap Rate: 6.46%
EXECUTIVE SUMMARY
Kyle Matthews
License # C38369 (NC)
Matthews Real Estate Investment Services
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
License # C38369 (NC)
Matthews Real Estate Investment Services
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
PROPERTY FACTS
| Price | $6,000,000 | Property Subtype | Apartment |
| Price Per Unit | $375,000 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.41% | Building Size | 13,944 SF |
| No. Units | 16 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2023 |
| Price | $6,000,000 |
| Price Per Unit | $375,000 |
| Sale Type | Investment |
| Cap Rate | 6.41% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Building Size | 13,944 SF |
| No. Stories | 3 |
| Year Built | 2023 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | 1,120 |
| 2+1.5 | 7 | - | 1,120 |
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PROPERTY TAXES
| Parcel Number | 126708 | Improvements Assessment | $3,378,730 |
| Land Assessment | $0 | Total Assessment | $3,378,730 |
PROPERTY TAXES
Parcel Number
126708
Land Assessment
$0
Improvements Assessment
$3,378,730
Total Assessment
$3,378,730
CONTACTS
-
Connor Kerns -
Sonny Molloy -
Jared Kaye -
Matthews Real Estate Investment Services
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Imperial Lofts | 202 S Main St
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