East Charlotte Investment
For Sale
$250,000
1628 Eastway Dr, Charlotte, NC 28205
Duplex zoned for office use with investment and business potential.
Property Size1,293 SF
Price / SF$193.35
Days on Market239
Property Features for 1628 Eastway Dr
General Information
Standard status
Active
Size
1,293 SF
Site & Location
Neighborhood
Northeast Inner
Building Details
Year Built
1963
Listing Agency:
Pollinator Properties LLC
Listed By:
Michelle Pentecost · License #257416
(704) 659-6999
Source:
Thejaywhiteteam
Added: Mar 5
Changed: Oct 25
Last Checked: Oct 5 at 9:34PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$19,969
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$399,380
$399.4K
Cap Rate 7%
$285,271
$285.3K
Cap Rate 9%
$221,878
$221.9K
Market Conditions
NOI Build-Up for 1,293 SF
Gross rent
$32.3K $24.96/SF
− Vacancy
−$5.6K −$4.37/SF
EGI
$26.6K $20.59/SF
− OpEx
−$6.7K −$5.15/SF
NOI
$20.0K $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 Rate 5%
$399,380
Cap Rate 7%
$285,271
Cap Rate 9%
$221,878
Alternative Uses
Best Use
Office B
$285.3K
$249.6K – $332.8K
NOI $19,969 @ 7.0% cap · market cap 7.99%
Second Best
Multifamily LT 5
$242.7K
$212.4K – $283.2K
NOI $16,989 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$430.6K
$376.8K – $502.3K
NOI $30,140 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Explore this area
Business Placement
Demographics for 28205, NC
49,600
Population
24,605
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
86%
High-School Grad
11.8 sq mi
ZIP Area
4,203
Density / Sq Mi
$72,479
Median Household Income
$49,340
Median Earnings
$1,376
Median Rent
$410,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Charlotte, NC
Frequently Asked Questions
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 Dr Charlotte, NC.
What is the asking price?
The asking price for this property is $250,000.
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.
