New-Construction Duplex with
For Sale
$999,900
1400 West Boulevard, Charlotte, NC 28208
Residential Income, Charlotte, NC
Property Size3,967 SF
Lot Size0.23 Acres
Price / SF$252.05
Days on Market82
Property Features for 1400 West Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning description
N1-B
Bedrooms
6
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 4, Bathroom 6, Laundry Room, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 4, Bathroom 5, Bedroom 3
Parking features
Driveway, Garage - Attached
Pets allowed
Call
Appliances
Dishwasher, Electric Range, Microwave
Elementary school
Unspecified
Middle school
Unspecified
High school
Unspecified
Standard status
Active
APN
11903103
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
L1 B5 M967-511
Legal Description
L1 B5 M967-511
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
private balcony
Building Details
Year built
2026
Floors in Building
3
Number of units
2
Building materials
Hardboard Siding
Architectural style
Other
Listing Agency:
CEDAR REALTY LLC
(704) 453-2650
Listed By:
Brandon Chase · License #249103
(704) 305-4178
Added: Jun 11
Changed: Aug 26
Last Checked: Aug 31 at 3:06PM
MLS# 4392562
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex is under construction for completion in 2026 and contains two separate residences within one building. The combined interior area is 3,967 heated square feet on a 0.227-acre lot. Each side is planned with three bedrooms, open-concept living space, a private balcony, flexible bonus space, and an attached one-car garage. Central heating and cooling, hardboard siding, public sewer, and a kitchen package with dishwasher, electric range, and microwave are included.
The property is located at 1400 West Boulevard in Charlotte’s South End. Uptown, South End restaurants, breweries, shopping, rail transit, and major employment centers are described as minutes away, placing the residences within an established urban setting. Driveway parking complements the attached garages.
The property is located at 1400 West Boulevard in Charlotte’s South End. Uptown, South End restaurants, breweries, shopping, rail transit, and major employment centers are described as minutes away, placing the residences within an established urban setting. Driveway parking complements the attached garages.
Key Highlights
- Duplex configuration with two private residences under one roof
- 3,967 heated square feet across the two residences
- 0.227‑acre lot at 1400 West Boulevard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,124
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,042,480
$1.0M
Cap Rate 7%
$744,629
$744.6K
Cap Rate 9%
$579,156
$579.2K
Market Conditions
NOI Build-Up for 3,967 SF
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.
Gross rent
$78.5K $19.80/SF
− Vacancy
−$4.1K −$1.03/SF
EGI
$74.5K $18.77/SF
− OpEx
−$22.3K −$5.63/SF
NOI
$52.1K $13.14/SF
Area
Charlotte, NC
Vacancy
5.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,042,480
Cap Rate 7%
$744,629
Cap Rate 9%
$579,156
Alternative Uses
Best Use
Multifamily LT 5
$744.6K
$651.6K – $868.7K
NOI $52,124 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$685.7K
$600.0K – $800.0K
NOI $48,000 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,471 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 28208, NC
38,614
Population
17,842
Households
2.2
Avg Household Size
34
Median Age
26%
College-Educated
81%
High-School Grad
20.2 sq mi
ZIP Area
1,912
Density / Sq Mi
$51,339
Median Household Income
$40,359
Median Earnings
$1,173
Median Rent
$198,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two private residences share one building, each with a balcony, attached garage, and flexible bonus space.
Where is this duplex located?
The property is located at 1400 West Boulevard Charlotte, NC.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Duplex configuration with two private residences under one roof; 3,967 heated square feet across the two residences; 0.227‑acre lot at 1400 West Boulevard
