Corner Creative Office
For Sale
Contact for pricing
1230 W Morehead St, Charlotte, NC 28208
Flexible corner workspace with abundant daylight, secure around-the-clock entry, parking, and a rooftop patio.
Property Size5,144 SF
Price / SF$379.08
Days on Market29
Property Features for 1230 W Morehead St
General Information
Standard status
Active
Size
5,144 SF
Property subtype
OFFICE
Amenities
24/7 controlled building access
roof top patio
Listing Agency:
Chatham Properties, Inc.
(704) 564-4053
Listed By:
Charlie Baker
(704) 564-4053
Source:
Moodyscre
Added: Aug 4
Changed: Aug 30
Last Checked: Aug 31 at 4:36PM
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 Chatham Properties, Inc.
Investment Insights
Based on property information with market context.
This 5,144-square-foot creative space occupies a corner position and offers a flexible office layout with strong natural light. The building provides controlled access 24 hours a day, seven days a week, supporting a secure workplace environment. A rooftop patio adds an outdoor amenity to the property.
Parking is available in two surface lots as well as along Calvert Street. The property is within walking distance of restaurants, retail, the greenway, and BofA Stadium, placing a range of dining, recreation, and entertainment destinations nearby.
Parking is available in two surface lots as well as along Calvert Street. The property is within walking distance of restaurants, retail, the greenway, and BofA Stadium, placing a range of dining, recreation, and entertainment destinations nearby.
Key Highlights
- 5,144 SF corner creative office space
- Flexible floor plan with substantial natural light
- Controlled building entry available 24/7
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
$79,444
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
4.07%
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%
$1,588,880
$1.6M
Cap Rate 7%
$1,134,914
$1.1M
Cap Rate 9%
$882,711
$882.7K
Market Conditions
NOI Build-Up for 5,144 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
$128.4K $24.96/SF
− Vacancy
−$22.5K −$4.37/SF
EGI
$105.9K $20.59/SF
− OpEx
−$26.5K −$5.15/SF
NOI
$79.4K $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%
$1,588,880
Cap Rate 7%
$1,134,914
Cap Rate 9%
$882,711
Alternative Uses
Best Use
Office B
$1.13M
$993.1K – $1.32M
NOI $79,444 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,907 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
Explore this area
Business Placement
Demographics for 28208, NC
38,614
Population
17,842
Households
2.2
Avg Household Size
34
Median Age
26%
College-Educated
81%
High-School Grad
20.2 sq mi
ZIP Area
1,912
Density / Sq Mi
$51,339
Median Household Income
$40,359
Median Earnings
$1,173
Median Rent
$198,300
Median Home Value
Market
Vacancy Rate% for Office in Charlotte, NC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Flexible corner workspace with abundant daylight, secure around-the-clock entry, parking, and a rooftop patio.
Where is this creative space located?
The property is located at 1230 W Morehead St Charlotte, NC.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 5,144 SF corner creative office space; Flexible floor plan with substantial natural light; Controlled building entry available 24/7
