Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1159 Commercial Ave Charlotte, NC 28205

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime location suitable for office, retail, or service industry.

    Type:Retail, Office
    Added:
    Mar 31, 2023
    Days on Market:
    1108
    Last Refresh:
    Mar 17 at 1:19 pm

    Property Features for 1159 Commercial Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office

    Spaces For Lease

    at 1159 Commercial Ave Contact us

    1167 Commercial Ave $15 /Mo

    Size
    1,200 SF
    Type
    Retail, Office
    Contact us

    We can help!

    Listing Contact
    Eric Howell

    Listing agent Eric Howell License #NC, SC

    Listing office The Providence Group

    Listing date Mar 31, 2023

    Source Crexi

    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 The Providence Group

    Overview

    Commercial Space For Rent

    This commercial space is suitable for conventional office, retail, or service industry use. Select units have been recently renovated and are ready for immediate occupancy. The property is located at 1159 Commercial Ave, Charlotte, NC 28205.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office properties & Spaces

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • Wright Computer Service — 4430 The Plaza, Charlotte, NC 28215
    • – Best MK, LLC — 1104 Commercial Ave, Charlotte, NC 28205
    • KeyMe Locksmiths — 1437 e sugar creek rd, charlotte, nc 28205
    • New York Wireless dba New York Wireless — 1415 Eastway Dr, Charlotte, NC 28205
    • Flourish Computer — 154 bingham dr, charlotte, nc 28213

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7837066
    Latitude
    35.2467969

    Nearby Similar for Lease

    • Contact for pricing

      Commercial Space Zoned I-2

      Commercial space ideal for automotive repairs with drive-in access.
      2839 Sparta Avenue, Charlotte, NC 28208
      View Details
    • Contact for pricing

      Versatile Commercial Space in Charlotte

      High-visibility commercial space suitable for retail, office, or medical use.
      4625 Nations Crossing Road, Charlotte, NC 28217
      View Details
    • Contact for pricing

      Remodeled Office Suite in Charlotte

      Newly remodeled office suite in South Charlotte near I-485.
      10801 Johnston Road, Charlotte, NC 28226
      View Details
    • Contact for pricing

      Prime Commercial Space Available

      Well-located commercial space ideal for retail, office, or medical use.
      4631 Nations Crossing Road, Charlotte, NC 28217
      View Details
    • Contact for pricing

      Updated Industrial Flex Condo

      Industrial flex condo with office and warehouse space for rent.
      6128 Brookshire Boulevard unit: A, Charlotte, NC 28216
      View Details
    • Contact for pricing

      Tryon Plaza Office Space

      Office space available in Tryon Plaza, Charlotte.
      112 S Tryon Street unit: 1250, Charlotte, NC 28202
      View Details
    • Contact for pricing

      Professional Office Space in Charlotte

      Ground floor offices with high visibility and ample parking.
      3703 Latrobe Drive unit: 240 & 250, Charlotte, NC 28211
      View Details
    • Contact for pricing

      Warehouse with Offices For Rent

      Warehouse with two offices and roll-up door available for rent.
      6120 Brookshire Boulevard unit: S, Charlotte, NC 28216
      View Details
    • Contact for pricing

      Renovated Turnkey Office Space

      Turnkey office space in central Wesley Heights/Freemore West location.
      1930 Freedom Drive, Charlotte, NC 28208
      View Details
    • $43,065/mo

      Former Famous Mart Retail Space

      Landmark retail space available on North Tryon Street.
      6600 N Tryon Street, Charlotte, NC 28213
      View Details
    • Contact for pricing

      Charlotte Office Space For Rent

      Office space available in a highly desirable Charlotte location.
      3121 Springbank Lane, Charlotte, NC 28226
      View Details
    • Contact for pricing

      Office Building in Plaza Midwood

      Office building in the heart of Plaza Midwood, Charlotte, NC.
      1323 The Plaza, Charlotte, NC 28205
      View Details

    FAQs

    What type of property is this?
    Office property - Prime location suitable for office, retail, or service industry.
    Where is this office property located?
    The property is located at 1159 Commercial Ave Charlotte, NC.
    What are key features of this property?
    This property features: Prime location ideal for office, retail, or service industry ventures.; Select units recently renovated offering modern appeal.; Ready for immediate occupancy, streamlining your business setup.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Eric Howell
    Real Estate License ID: NC, SC
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!