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    4944 Parkway Plaza Blvd Charlotte, NC 28217

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    Seven-building office portfolio in Charlotte's Airport submarket with various amenities.

    Property size:
    3,028 SF
    Lot size:
    5.03 Acres

    Property Features for 4944 Parkway Plaza Blvd

    General Information

    Size
    3,028 SF
    Lot size
    5.03 Acres

    We can help!

    Listing Contact
    Bob Boykin
    Bob Boykin
    Source: Moodyscre

    Listing Agency: Stream Realty Partners Charlotte Listing Agent: Bob Boykin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Charlotte Office Portfolio For Rent

    This seven-building office portfolio, formerly Parkway Plaza, is located in Charlotte’s airport submarket. Yorkmont Plaza's seven buildings offer availabilities ranging from 999 square feet up to 80,000 square feet, including two vacant adjacent buildings of 40,000 square feet each. On-site property management and maintenance are provided, along with a tenant fitness facility, cafe, and conference center. The park-wide average parking ratio is 4/1,000 RSF, with the potential for above-average parking ratios for select, high-density tenants through additional vacant parking lots. Situated just off Yorkmont Road, Yorkmont Plaza is minutes from major interstates, downtown Charlotte, South End, and the airport, offering a central location suitable for employees from across the city. The Charlotte Regional Farmer’s Market is within walking distance, and retail and restaurants at City Park are just minutes away. Located across from Billy Graham Parkway, the portfolio provides prominent traffic visibility and branding opportunities for large tenants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ambassador Personnel, Inc. Employment Agency 23rd Group, LLC Plumbing Service Polished Concrete Solution ... Construction Company Walden Security | Charlotte ... Security Service AutoAPR by TradePending (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.9035168
    Latitude
    35.1833819

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    FAQs

    What type of property is this?
    Office units - Seven-building office portfolio in Charlotte's Airport submarket with various amenities.
    Where is this office units located?
    The property is located at 4944 Parkway Plaza Blvd Charlotte, NC.
    What are key features of this property?
    This property features: - Prime location in Charlotte's Airport submarket with easy access to major interstates, downtown, South End, and the airport.; - On-site amenities include property management and maintenance, tenant fitness facility, cafe, and conference center.; - Flexible space options ranging from 999 SF up to 80,000 SF, including two adjacent 40,000 SF vacant buildings.
    (804) 929-3825 Call to check price and availability
    Request Owner's contact information
    4944 Parkway Plaza Blvd Charlotte, NC 28217
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    Charlotte, NC 28217
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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
    4944 Parkway Plaza Blvd Charlotte, NC 28217
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bob Boykin
    Bob Boykin
    (804) 929-3825 (980) 819-4270 (980) 819-4274
    Learn more
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