Retail Space in Lake
For Sale
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18206 Manhatten Pkwy, Cornelius, NC 28031
Retail space in affluent Charlotte submarket near Birkdale Village.
Property Size5,351 SF
Price / SF$309.03
Days on Market251
Property Features for 18206 Manhatten Pkwy
General Information
Standard status
Active
Size
5,351 SF
Property subtype
Retail
Lease Type
NN
Net Operating Income
$99,216
Building Details
Year Built
2008
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Conrad Sarreal · License #CA 01982875
Source:
Crexi
Added: Jan 28
Changed: Oct 5
Last Checked: Oct 5 at 7:16PM
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 Matthews
Investment Insights
Based on property information with market context.
This retail space is located in the Lake Norman corridor near Birkdale Village, within an affluent Charlotte submarket. The property offers 5351 square feet of commercial space suitable for retail use.
Key Highlights
- Affluent Charlotte Submarket Location
- Positioned in the Lake Norman Corridor
- Proximity to Birkdale Village
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,535
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,310,700
$1.3M
Cap Rate 7%
$936,214
$936.2K
Cap Rate 9%
$728,167
$728.2K
Market Conditions
NOI Build-Up for 5,351 SF
Gross rent
$96.3K $18.00/SF
− Vacancy
−$2.7K −$0.50/SF
EGI
$93.6K $17.50/SF
− OpEx
−$28.1K −$5.25/SF
NOI
$65.5K $12.25/SF
Area
Mecklenburg County, NC
Vacancy
2.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,310,700
Cap Rate 7%
$936,214
Cap Rate 9%
$728,167
Alternative Uses
Best Use
Retail
$936.2K
$819.2K – $1.09M
NOI $65,535 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,034 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Explore this area
Business Placement
Demographics for 28031, NC
30,836
Population
14,194
Households
2.2
Avg Household Size
43
Median Age
61%
College-Educated
97%
High-School Grad
14.0 sq mi
ZIP Area
2,203
Density / Sq Mi
$115,746
Median Household Income
$65,377
Median Earnings
$1,587
Median Rent
$497,400
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 Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space in affluent Charlotte submarket near Birkdale Village.
Where is this retail space located?
The property is located at 18206 Manhatten Pkwy Cornelius, NC.
What is the asking price?
The asking price for this property is $1,653,600.
What are key features of this property?
This property features: Affluent Charlotte Submarket Location; Positioned in the Lake Norman Corridor; Proximity to Birkdale Village
