East Charlotte Investment
1628 Eastway Drive Charlotte, NC 28205
For Sale
$275,000
Duplex zoned for office use with investment and business potential.
Property Size1,293 SF
Price / SF$212.68
Days on Market160
Property Features for 1628 Eastway Drive
General Information
- Standard status
- Active
- Size
- 1,293 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1963
Listing Agency:
POLLINATOR PROPERTIES LLC
(704) 968-8865
Listed By:
MICHELLE PENTECOST · License #257416
Source:
Corcoran
Added: Feb 13
Changed: Jul 6
Last Checked: Jul 23 at 8:44AM
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 POLLINATOR PROPERTIES LLC
Investment Insights
Based on property information with market context.
Located in East Charlotte, this property presents an investment opportunity. Zoned for office use O-1(CD) and currently configured as a duplex, the property offers flexibility for various uses. It can be used as an income-producing duplex, converted back to a single-family home, or utilized in a mixed-use setup. The property has parking in the front and rear. The building has a total size of 1293 square feet. A portion of the property is located in a flood zone.
Key Highlights
- Zoned O‑1(CD) for office use, offering flexibility.
- Currently configured as a duplex, providing immediate income potential.
- Convertible to a single‑family home, appealing to traditional buyers.
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 | $32.3k | $24.96 |
| − Vacancy | −$5.6k | −$4.37 |
| EGI | $26.6k | $20.59 |
| − OpEx | −$6.7k | −$5.15 |
| NOI | $20.0k | $15.44 |
1,293 SF · lease $24.96/SF/yr · vacancy 17.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$285.3K
$249.6K – $332.8K
NOI $19,969 @ 7.0% cap · market cap 7.26%
Second Best
Multifamily LT 5
$242.7K
$212.4K – $283.2K
NOI $16,989 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$430.6K
$376.8K – $502.3K
NOI $30,140 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex zoned for office use with investment and business potential.
Where is this duplex located?
The property is located at 1628 Eastway Drive Charlotte, NC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Zoned O‑1(CD) for office use, offering flexibility.; Currently configured as a duplex, providing immediate income potential.; Convertible to a single‑family home, appealing to traditional buyers.
