Office Flex
For Sale
Contact for pricing
13142 Albemarle Rd, Mint Hill, NC 28227
Two-building flex facility totaling 7,100 SF, with a 3,000 SF warehouse component at the front building.
Property Size7,100 SF
Price / SF$492.96
Days on Market67
Property Features for 13142 Albemarle Rd
General Information
Standard status
Active
Size
7,100 SF
Property subtype
FLEX_R_AND_D
Listing Agency:
Bertolina Commercial Real Estate Services, Inc.
(704) 333-9881
Listed By:
Ian Bertolina · License #129379
(704) 333-9881
Source:
Moodyscre
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 8 at 6:35PM
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 Bertolina Commercial Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This office flex warehouse property totals 7,100 SF across two buildings. The front building comprises 6,000 SF and includes a 3,000 SF warehouse area, while the back building includes 1,100 SF.
The facility is configured to support both office and warehouse use within the same overall footprint, with the warehouse portion located in the front building.
The property is offered for sale.
The facility is configured to support both office and warehouse use within the same overall footprint, with the warehouse portion located in the front building.
The property is offered for sale.
Key Highlights
- Two‑building flex facility totaling 7,100 SF
- Front building totals 6,000 SF, including a 3,000 SF warehouse component
- Back building totals 1,100 SF
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
$124,519
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
3.56%
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%
$2,490,380
$2.5M
Cap Rate 7%
$1,778,843
$1.8M
Cap Rate 9%
$1,383,544
$1.4M
Market Conditions
NOI Build-Up for 7,100 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
$184.9K $26.04/SF
− Vacancy
−$18.9K −$2.66/SF
EGI
$166.0K $23.38/SF
− OpEx
−$41.5K −$5.85/SF
NOI
$124.5K $17.54/SF
Area
ZIP 28227
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%
$2,490,380
Cap Rate 7%
$1,778,843
Cap Rate 9%
$1,383,544
Alternative Uses
Best Use
Office B
$1.78M
$1.56M – $2.08M
NOI $124,519 @ 7.0% cap · market cap 3.56%
Second Best
Flex RnD
$1.18M
$1.03M – $1.37M
NOI $82,250 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $177,076 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28227, NC
57,126
Population
23,179
Households
2.5
Avg Household Size
38
Median Age
30%
College-Educated
87%
High-School Grad
40.2 sq mi
ZIP Area
1,421
Density / Sq Mi
$75,322
Median Household Income
$41,742
Median Earnings
$1,412
Median Rent
$313,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two-building flex facility totaling 7,100 SF, with a 3,000 SF warehouse component at the front building.
Where is this flex space located?
The property is located at 13142 Albemarle Rd Mint Hill, NC.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Two‑building flex facility totaling 7,100 SF; Front building totals 6,000 SF, including a 3,000 SF warehouse component; Back building totals 1,100 SF
