Two-Unit Office
For Sale
Contact for pricing
10224 Hickorywood Hill Ave, Huntersville, NC 28078
Office suites include window offices, reception areas, ADA bathrooms, and kitchenette space.
Property Size1,500 SF
Price / SF$433.33
Days on Market77
Property Features for 10224 Hickorywood Hill Ave
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Office
Amenities
large window offices
waiting room
reception
ADA bathroom
kitchenette
Listing Agency:
Knox Group Inc
Listed By:
Michelle Polito · License #NC 335054
(704) 896-1911
Source:
Crexi
Added: Jun 29
Changed: Sep 10
Last Checked: Sep 13 at 4:40AM
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 Knox Group Inc
Investment Insights
Based on property information with market context.
This offering includes two office suites with reception and waiting space, along with ADA bathrooms and kitchenette areas. Suite 204 provides three large window offices and approximately 800 RSF, and is occupied through 9/30/26. Suite 205 includes three large window offices and approximately 700 RSF, and is currently leased through 8/31/29.
The property is located at 10224 Hickorywood Hill Ave in Huntersville, NC 28078. Suite 204 is available for an owner-occupant use after the current occupancy ends, and Suite 205 provides ongoing rental income under its existing lease term.
The property is located at 10224 Hickorywood Hill Ave in Huntersville, NC 28078. Suite 204 is available for an owner-occupant use after the current occupancy ends, and Suite 205 provides ongoing rental income under its existing lease term.
Key Highlights
- Suite 204: 800 RSF office suite with 3 large window offices plus waiting room and reception
- Suite 204 includes an ADA bathroom and kitchenette; occupied until 9/30/26
- Suite 205: 700 RSF office suite with 3 large window offices plus waiting room and reception
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
$26,307
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
4.05%
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%
$526,140
$526.1K
Cap Rate 7%
$375,814
$375.8K
Cap Rate 9%
$292,300
$292.3K
Market Conditions
NOI Build-Up for 1,500 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
$39.1K $26.04/SF
− Vacancy
−$4.0K −$2.66/SF
EGI
$35.1K $23.38/SF
− OpEx
−$8.8K −$5.85/SF
NOI
$26.3K $17.54/SF
Area
Mecklenburg County, NC
Vacancy
10.20%
Lease Rate
$26.04 /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%
$526,140
Cap Rate 7%
$375,814
Cap Rate 9%
$292,300
Alternative Uses
Best Use
Office B
$375.8K
$328.8K – $438.5K
NOI $26,307 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$484.7K
$424.1K – $565.5K
NOI $33,928 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,479
Businesses Nearby
Explore this area
Business Placement
Demographics for 28078, NC
67,863
Population
27,659
Households
2.5
Avg Household Size
37
Median Age
56%
College-Educated
97%
High-School Grad
63.7 sq mi
ZIP Area
1,065
Density / Sq Mi
$120,503
Median Household Income
$67,055
Median Earnings
$1,722
Median Rent
$441,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suites include window offices, reception areas, ADA bathrooms, and kitchenette space.
Where is this office units located?
The property is located at 10224 Hickorywood Hill Ave Huntersville, NC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Suite 204: 800 RSF office suite with 3 large window offices plus waiting room and reception; Suite 204 includes an ADA bathroom and kitchenette; occupied until 9/30/26; Suite 205: 700 RSF office suite with 3 large window offices plus waiting room and reception
