380 9th Ave Dr NE

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380 9th Ave Dr NE

Hickory, NC 28601
Asking Price
Contact for price
Asset Type
Multifamily
Class
Class B

What's Special

380 9th Ave Dr NE is located in the northeastern quadrant of Hickory, North Carolina, situated within a established residential neighborhood characterized by mid-century architecture and mature landscaping. The property offers proximity to the Lenoir-Rhyne University campus and the downtown commercial core, providing access to regional retail centers, medical facilities, and dining options. Transport access is supported by nearby arterial roads including Highway 70 and Interstate 40, connecting the site to the broader Catawba County area. The property is suited for multifamily redevelopment or continued rental operations, catering to a diverse tenant base. Given the location, typical occupants include university staff, students, and healthcare professionals working at nearby medical centers. The site supports high-density residential use, appealing to investors seeking to serve the local workforce. The layout and neighborhood profile are conducive to long-term residential leasing within a stable submarket.

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NOI
$80,000
Cap Rate
8.00%
DSCR
1.35
Strong
Cash-on-Cash
6.88%
Monthly Payment
$4,947.454
Annual Cash Flow
$20,630.547

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