203 29th Avenue NE | Hickory, NC 28601
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No. of Units Type Location
Year Built No. of Buildings No. of Stories Building Materials Roof Type Acres of Land Density Parking
Builder
Clubhouse with Entertainment Space, TV Lounge, Kitchen, Game and Foosball Tables
24-Hour Fitness Center with Cardio and Weightlifting Equipment
Resort-Style Pool
Dog Park
Professional Onsite Management and Maintenance
COMMUNITY AMENITIES
UNIT AMENITIES
Two-Level Townhomes with Attached, Direct Access One-Car Garages
Beautifully Appointed with Hardwood Flooring, Shaker-Style Cabinetry, Quartz Countertops, Subway-Tiled Backsplash, Plush Bedroom Carpeting, and Recessed Lighting
Chef-Inspired Kitchen with Stainless Steel Appliances, Undermount Double Basin Sink, Dining Area, and Plenty of Cabinet and Counter Space
Oversized Bedrooms with Spacious Walk-In Closets
Ceiling Fan in Primary Bedroom
In-Unit Washer and Dryer
9-Foot Ceilings
203 29th Avenue NE | Hickory, NC 28601
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Strong Operational Performance Through Lease-Up
1
Since delivering in June 2023, Landon Green demonstrated stable operational efficiencies and impressive leasing velocity without offering concessions. From February 2024 to June 2025, 33 move-ins occurred. Today, the property is 99% leased per the 3/10/25 rent roll, allowing new ownership to benefit from healthy existing operations.
Furthermore, current ownership did not utilize a Daily Pricing System during lease-up. This provides new ownership with the opportunity to achieve upside on 2nd generation organic lease trade outs for upcoming renewals.
INVESTMENT HIGHLIGHTS
PROPERTY DETAILS
AMENITIES
LOCATION
The Epicenter of NC Economic Hubs
3
Landon Green is uniquely positioned geographically and sits within a 1-hour drive to three major NC employment hubs: Charlotte, Greensboro, and Asheville. This provides residents with seamless connectivity throughout the state and exposure to major Fortune 500 employers such as Bank of America, Lowe’s, Wells Fargo, Duke Energy and more. While there is a hub of employment activity within a 15-minute drive throughout Hickory, many tenants at Landon Green commute to these cities daily or weekly. The ease of connectivity by utilizing Interstate 40 going east-west and Highway 321 going north-south makes Hickory a perfect hub for many families.
NOI Upside Potential Through Privacy Yard and Reserved Parking Additions
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Lack of New Supply in High Barrier to Entry SuN Belt Market
4
60
two-bedroom units measuring 1,470 square feet
40
three-bedroom units measuring 1,791 square feet
1,598 SF
Average unit size
UNIT MIX
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Privacy Yards Landon Green offers an opportunity to add fenced-in privacy yards units for an added premium. This provides future ownership with a low-hanging value-add opportunity to boost NOI.
Landon Green sits within proximity to major employment nodes in the Hickory-Lenoir-Morganton MSA.
6
Abundance of High-Quality Jobs
BACK TO TOP
774 S Shelmore Blvd
Suite 105
Mt Pleasant, SC 29464
Charleston Office
4201 Congress Street
Suite 200
Charlotte, NC 28209
Charlotte Office
4030 Wake Forest Road Suite 300, Office 314 Raleigh, NC 27609
Raleigh office
355 S. Main Street
1st and 2nd Floor
Greenville, SC 29601
Greenville Office
Blake Coffey
Senior Director
843.628.3766 blake.coffey@Berkadia.com
Thomas Colaiezzi
Director
704.565.9391 thomas.colaiezzi@berkadia.com
Mark Boyce
Managing Director
843.628.3765 mark.boyce@Berkadia.com
Adam Erickson
Director 404.654.2596 adam.erickson@berkadia.com
Josh Finley
Managing Director 404.654.2594 josh.finley@berkadia.com
Matt Robertson
Associate Director
919.812.3174 matthew.robertson@berkadia.com
Caleb Troop
Senior Managing Director
980.208.1668 caleb.troop@berkadia.com
INVESTMENT SALES
MORTGAGE BANKING
CONTACT
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
12 Cain Holw Way | Asheville, NC 28806
BACK TO TOP
774 S Shelmore Blvd
Suite 105
Mt Pleasant, SC 29464
Charleston Office
4201 Congress Street
Suite 200
Charlotte, NC 28209
Charlotte Office
4030 Wake Forest Road Suite 300, Office 314 Raleigh, NC 27609
Raleigh office
355 S. Main Street
1st and 2nd Floor
Greenville, SC 29601
Greenville Office
Blake Coffey
Senior Director
843.628.3766 blake.coffey@Berkadia.com
Thomas Colaiezzi
Director
704.565.9391 thomas.colaiezzi@berkadia.com
Mark Boyce
Managing Director
843.628.3765 mark.boyce@Berkadia.com
Joel Kirstein
Managing Director
346.444.8975
joel.kirstein@berkadia.com
Mackinley Robinson
Senior Director
360.704.8831
mackinley.robinson@berkadia.com
Matt Robertson
Associate
919.812.3174 matthew.robertson@berkadia.com
Caleb Troop
Managing Director
980.208.1668 caleb.troop@berkadia.com
INVESTMENT SALES
MORTGAGE BANKING
CONTACT
BUILT 2023 | 100 UNITS
Landon Green benefits tremendously from limited supply of new construction product in the surrounding area. As of March 2024, there is only one active market rate multi-family community under construction in the greater Hickory MSA. This 154-unit property, Redwood Hickory, is the only anticipated delivery over the next 12 months and only includes 2-bedroom duplex product. Furthermore, Redwood Hickory, while also a BTR-style asset, does not have a pool, gym or clubhouse, unlike Landon Green.
Net migration research predicts approximately 4,500 net new move-ins through 2025. Hickory’s staggering lack of supply, coupled with strong migration trends, is projected to lead to effective rent growth of 2.9% for Class A product through 2025.
Source: Berkadia Pyxis Research
Russ Hardy
Managing Director
404.422.0499
russ.hardy@berkadia.com
Andrew Curtis
Senior Director
602.571.4190 andrew.curtis@berkadia.com
*Upgraded amenities include iron stair spindles, two color schemes, etc
*Represents subject in-place rent and % leased per 3/10/2025 rent roll
Total Potential Privacy Yards Potential Charge Per Yard Potential Privacy Yard Income/YR
50 $150 $90,000
Potential Reserved Parking Spots Suggested Monthy Charge Per Month Potential Preferred Parking Income/YR*
20 100 $22,800
Reserved Parking In conversations with property management, Berkadia feels 20 existing parking spaces could charge $100 per month for reserved parking. While each unit has a 1-car garage and at least 1 parking space on each driveway, many tenants are using their garage for storage or recreational areas (gym, entertainment cave, etc.) By adding these 20 reserved parking spaces and assuming 95% occupancy, other income could receive a $22,000+ boost.
*Assumes 95% occupancy at $100/u/mo for preferred parking
Mission Properties, the developer of the asset, is a development firm primarily focused on multifamily assets throughout Hickory, Charlotte, Raleigh, Asheville, Rock Hill, and Charleston. Since its inception, Mission Properties has delivered nearly 14,000 units and over $2 Billion in projects completed and under construction.
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Proven Developer with Extensive Track Record
203 29th Avenue NE
Hickory, NC 28601 100 Townhome Situated near the intersection of US-321 and I-40, approximately 1 hour northwest of Charlotte. 2023 19 Two Wood Frame Pitched Roofs with Composition Shingles 10.01 Acres 14 Units per Acre Each townhome includes a one-car garage and two full-size driveway spaces. Mission Properties
Joel Kirstein
Managing Director
346.444.8975
joel.kirstein@berkadia.com
Mackinley Robinson
Senior Director
360.704.8831
mackinley.robinson@berkadia.com
