Boutique Office Building
1227-1233 The Plaza Charlotte, NC 28205
For Sale
Contact for pricing
Pending
Four-story office building with USPS ground-floor tenant and two vacant cold dark shell floors.
Property Size27,261 SF
Days on Market569
Property Features for 1227-1233 The Plaza
General Information
Standard status
Pending
Size
27,261 SF
Property subtype
OFFICE
Listing Agency:
Selwyn Property Group
(704) 582-1672
Listed By:
Sink Kimmel · License #275472
(704) 582-1672
Source:
Moodyscre
Added: Jan 7, 2025
Changed: Jul 26
Last Checked: Jul 29 at 2:58PM
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 Selwyn Property Group
Investment Insights
Based on property information with market context.
1233 The Plaza is a boutique office building originally built in 1957 and redeveloped in 2021 into its current four-story configuration. The property includes a USPS-anchored ground floor, and the third floor is occupied by Atrium as an OBGYN office with term remaining plus multiple extension options. The second and fourth floors are vacant and delivered in cold dark shell condition.
The fourth floor features 12+’ ceilings with a clearstory and offers a 360-degree view of the neighborhood and Uptown skyline. The ground floor has been occupied by the United States Postal Service for nearly thirty years, with a new five-year term beginning in February 2026.
Second- and fourth-floor availability provides a combined +/-14,253 RSF in shell condition for qualified tenants or buyers seeking to fit out space in the building.
The fourth floor features 12+’ ceilings with a clearstory and offers a 360-degree view of the neighborhood and Uptown skyline. The ground floor has been occupied by the United States Postal Service for nearly thirty years, with a new five-year term beginning in February 2026.
Second- and fourth-floor availability provides a combined +/-14,253 RSF in shell condition for qualified tenants or buyers seeking to fit out space in the building.
Key Highlights
- Four‑story office building in Charlotte’s Plaza Midwood, originally built in 1957 and redeveloped into its current four‑story state in 2021
- USPS ground‑floor tenant for almost 30 years with a new 5‑year term starting February 2026
- Third floor is occupied by Atrium (OBGYN office) with 8+ years remaining on its original term plus multiple extension options
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $680.4k | $24.96 |
| − Vacancy | −$119.1k | −$4.37 |
| EGI | $561.4k | $20.59 |
| − OpEx | −$140.3k | −$5.15 |
| NOI | $421.0k | $15.44 |
27,261 SF · lease $24.96/SF/yr · vacancy 17.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.01M
$5.26M – $7.02M
NOI $421,019 @ 7.0% cap · market cap 4.21%
Second Best
Healthcare Medical
$5.39M
$4.71M – $6.29M
NOI $377,150 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$9.08M
$7.94M – $10.59M
NOI $635,458 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Four-story office building with USPS ground-floor tenant and two vacant cold dark shell floors.
Where is this office building located?
The property is located at 1227-1233 The Plaza Charlotte, NC.
What is the asking price?
The asking price for this property is $9,995,000.
What are key features of this property?
This property features: Four‑story office building in Charlotte’s Plaza Midwood, originally built in 1957 and redeveloped into its current four‑story state in 2021; USPS ground‑floor tenant for almost 30 years with a new 5‑year term starting February 2026; Third floor is occupied by Atrium (OBGYN office) with 8+ years remaining on its original term plus multiple extension options
