Owner-Occupant Office Condo
For Sale
Contact for pricing
Pending
10027 Park Cedar Dr, Charlotte, NC 28210
Office condo unit offering 1,395 sf, with condo dues and taxes details provided and no pending assessments per owner.
Property Size1,395 SF
Days on Market195
Property Features for 10027 Park Cedar Dr
General Information
Standard status
Pending
Size
1,395 SF
Property subtype
OFFICE
Listing Agency:
Office Properties
Listed By:
John Stipp
(704) 540-1260
Source:
Moodyscre
Added: Mar 3
Changed: Sep 9
Last Checked: Sep 13 at 11:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Office Properties
Investment Insights
Based on property information with market context.
Available for sale is a 1,395 sf office condo unit suitable for owner-occupancy. The property is governed by a condo association with stated annual condo dues of $2.65 per square foot per year. The owner reports no pending assessments and states the association has good reserves.
Property taxes are provided with an important note for Units 150 and 200, which are deeded together on one deed. As a result, the property taxes listed for those units are $4,809.31. The owner is working with an attorney to separate the deeds and prorate the taxes and condo dues.
This is a straightforward office condo configuration for an owner-occupant looking to secure space within the condo association structure, with specific expense and deed-status items available for review.
Property taxes are provided with an important note for Units 150 and 200, which are deeded together on one deed. As a result, the property taxes listed for those units are $4,809.31. The owner is working with an attorney to separate the deeds and prorate the taxes and condo dues.
This is a straightforward office condo configuration for an owner-occupant looking to secure space within the condo association structure, with specific expense and deed-status items available for review.
Key Highlights
- Office condo unit with 1,395 SF available for owner/occupant
- $345 per SF
- Condo dues: $2.65 per SF per year (per owner)
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
$21,544
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
3.89%
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%
$430,880
$430.9K
Cap Rate 7%
$307,771
$307.8K
Cap Rate 9%
$239,378
$239.4K
Market Conditions
NOI Build-Up for 1,395 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
$34.8K $24.96/SF
− Vacancy
−$6.1K −$4.37/SF
EGI
$28.7K $20.59/SF
− OpEx
−$7.2K −$5.15/SF
NOI
$21.5K $15.44/SF
Area
Charlotte, NC
Vacancy
17.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$430,880
Cap Rate 7%
$307,771
Cap Rate 9%
$239,378
Alternative Uses
Best Use
Office B
$307.8K
$269.3K – $359.1K
NOI $21,544 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$464.5K
$406.5K – $542.0K
NOI $32,518 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,250
Businesses Nearby
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Business Placement
Demographics for 28210, NC
46,843
Population
22,376
Households
2.1
Avg Household Size
37
Median Age
60%
College-Educated
91%
High-School Grad
12.4 sq mi
ZIP Area
3,778
Density / Sq Mi
$94,145
Median Household Income
$54,965
Median Earnings
$1,444
Median Rent
$486,000
Median Home Value
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Market
Vacancy Rate% for Office in Charlotte, NC
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Frequently Asked Questions
What type of property is this?
Office units - Office condo unit offering 1,395 sf, with condo dues and taxes details provided and no pending assessments per owner.
Where is this office units located?
The property is located at 10027 Park Cedar Dr Charlotte, NC.
What is the asking price?
The asking price for this property is $554,070.
What are key features of this property?
This property features: Office condo unit with 1,395 SF available for owner/occupant; $345 per SF; Condo dues: $2.65 per SF per year (per owner)
