Rezoned Brick Commercial
For Sale
$650,000
13500 Tryon Street, Charlotte, NC 28278
SINGLE_FAMILY - Charlotte, NC
Property Size2,000 SF
Lot Size1.75 Acres
Price / SF$325
Days on Market1040
Property Features for 13500 Tryon Street
General Information
Property type
Residential
Property subtype
Office
Zoning description
CAC-1
Lot features
Corner Lot
Directions
Going south on S Tryon, past Shopton Road, property on right across from Christ the King church.
Standard status
Active
APN
199-551-04
Lot size
1.75 Acres
Taxes and HOA fees
Tax Description
199-551-04
Legal Description
199-551-04
Building Details
Year built
1975
Listing Agency:
Carolina Homes Connection, LLC
(704) 615-7315
Listed By:
Retha Russell
(704) 905-8182
Added: Oct 4, 2023
Changed: Jul 9
Last Checked: Aug 8 at 11:06AM
MLS# 4075404
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property consists of a brick structure of approximately 2,000 square feet on 1.75 acres, with the additional note that the deck and bridge in the back yard should not be walked on. The property has been rezoned for commercial use, and access to the rear area is described as being available by walking the side road to the back of the property.
Located in the Steele Creek area of Charlotte, the listing notes proximity to the Rivergate shopping area and that the property sits across from an emergency room.
For prospective occupants or buyers, the current configuration and recent rezoning support commercial consideration, while the rear access constraints should be considered for on-site visits and due diligence.
Located in the Steele Creek area of Charlotte, the listing notes proximity to the Rivergate shopping area and that the property sits across from an emergency room.
For prospective occupants or buyers, the current configuration and recent rezoning support commercial consideration, while the rear access constraints should be considered for on-site visits and due diligence.
Key Highlights
- Year built: 1975
- 2000 ft. brick structure
- Rezoned for commercial use
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
$24,200
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
3.72%
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%
$484,000
$484.0K
Cap Rate 7%
$345,714
$345.7K
Cap Rate 9%
$268,889
$268.9K
Market Conditions
NOI Build-Up for 2,000 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
$46.6K $23.28/SF
− Vacancy
−$2.6K −$1.28/SF
EGI
$44.0K $22.00/SF
− OpEx
−$19.8K −$9.90/SF
NOI
$24.2K $12.10/SF
Area
Charlotte, NC
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$484,000
Cap Rate 7%
$345,714
Cap Rate 9%
$268,889
Alternative Uses
Best Use
Apartment 5plus
$345.7K
$302.5K – $403.3K
NOI $24,200 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$666.0K
$582.8K – $777.0K
NOI $46,620 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
Explore this area
Business Placement
Demographics for 28278, NC
33,426
Population
13,812
Households
2.4
Avg Household Size
37
Median Age
57%
College-Educated
95%
High-School Grad
28.8 sq mi
ZIP Area
1,161
Density / Sq Mi
$121,366
Median Household Income
$60,362
Median Earnings
$1,736
Median Rent
$413,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - A 1.75-acre property with a brick structure, rezoned for commercial use, near Rivergate and an emergency room.
Where is this single family property located?
The property is located at 13500 Tryon Street Charlotte, NC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Year built: 1975; 2000 ft. brick structure; Rezoned for commercial use
