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    Office Space on Catawba Avenue Title is generated by Realmo AI

    19824 W Catawba Avenue, Cornelius, NC 28031

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    For Sale
    $550,000

    SINGLE_FAMILY - Cornelius, NC

    Type:Office
    Lot size:
    1.03 Acres
    Added:
    May 2, 2025
    Days on Market:
    381
    Last Refresh:
    May 17 at 7:06 am

    Property Features for 19824 W Catawba Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    005-121-68
    Lot size
    1.03 Acres

    Taxes and HOA fees

    Tax Description
    UNIT C BLD2 U/F 506

    Building Details

    Year built
    1999

    We can help!

    Listing Contact
    Phil Puma
    Phil Puma

    Listing agent Phil Puma License #203114

    Listing office Puma & Associates Realty, Inc. 18716 W Catawba Ave, Cornelius, NC

    Listing date May 2, 2025

    MLS# 4253700 Listing URL

    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.

    HighLights

    • High‑visibility location on Catawba Ave with signage opportunity.
    • Flexible occupancy: Owner can vacate or lease short‑term.
    • Two separate workspaces plus office/storage room and kitchenette.
    • HOA covers extensive exterior and common area maintenance.
    • Parking lot included.
    • Built in 1999.

    Overview

    This office space presents a rare opportunity for business signage on Catawba Avenue. The space includes two separate workspaces, along with a 6' x 7' room suitable for use as an office or storage area, and a kitchenette area with a sink. The property is currently owner-occupied, and the owner is willing to vacate upon the close of sale for a new owner-occupant. Alternatively, the current owner is open to a possible short-term lease. According to the management company, units must be leased for a minimum of 6 months. The Homeowner's Association (HOA) dues are $367.50 per month. These dues cover common area maintenance, including the building's exterior (including the roof), windows (unless broken due to negligence), the parking lot, dumpsters and trash removal, the lobby, the elevator, lighting in the common areas, doors with auto locks, and landscaping. The property is located in Cornelius, NC, in Mecklenburg County, with a lot size of 1.03 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Matthew Harrison Dental Office Dr. Eric Davis Dental Office Brandon Loren Dental Office Richard B. Taylor, ... Alternative Medicine Practice Gary Draper Alternative Medicine Practice

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cornelius
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.885862
    Latitude
    35.480844

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    FAQs

    What type of property is this?
    Office units - Office space with signage opportunity on high-traffic Catawba Avenue.
    Where is this office units located?
    The property is located at 19824 W Catawba Avenue Cornelius, NC.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: High‑visibility location on Catawba Ave with signage opportunity.; Flexible occupancy: Owner can vacate or lease short‑term.; Two separate workspaces plus office/storage room and kitchenette.
    (704) 578-8851
    We can help!
    Listing Contact
    Phil Puma
    Phil Puma
    Real Estate License ID: 203114
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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