Renovated Creative Office
For Sale
Contact for pricing
18820 Statesville Rd, Cornelius, NC 28031
Updated office property with Highway Commercial (HC) zoning and a substantial land component.
Property Size6,440 SF
Lot Size1.71 Acres
Price / SF$590.06
Days on Market53
Property Features for 18820 Statesville Rd
General Information
Standard status
Active
Size
6,440 SF
Lot size
1.71 Acres
Property subtype
OFFICE
Zoning
HC
Additional Details
Road Access
Yes
Building Details
Year Renovated
2022
Listing Agency:
Avison Young | Charlotte
(704) 531-5550
Listed By:
Nick Claudio
(304) 419-2276
Source:
Moodyscre
Added: Sep 8
Changed: Oct 25
Last Checked: Oct 28 at 8:57AM
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 Avison Young | Charlotte
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Investment Insights
Based on property information with market context.
This creative office property provides ±6,440 square feet of workspace on approximately ±1.714 acres. A 2021/2022 renovation refreshed the property, while a 2022 roof and HVAC system add recent building improvements. The asset offers an office setting with a larger land component than a typical standalone office suite or building.
Located at 18820 Statesville Road in Cornelius, North Carolina, the property sits along Statesville Road with access to the surrounding Lake Norman area. Highway Commercial (HC) zoning supports its commercial office positioning. The combination of updated improvements, office space, and acreage creates a distinct physical profile for businesses seeking a creative workplace environment.
Located at 18820 Statesville Road in Cornelius, North Carolina, the property sits along Statesville Road with access to the surrounding Lake Norman area. Highway Commercial (HC) zoning supports its commercial office positioning. The combination of updated improvements, office space, and acreage creates a distinct physical profile for businesses seeking a creative workplace environment.
Key Highlights
- ±6,440 SF of creative office space
- Approximately ±1.714 acres of land
- 2021/2022 renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,944
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,258,880
$2.3M
Cap Rate 7%
$1,613,486
$1.6M
Cap Rate 9%
$1,254,933
$1.3M
Market Conditions
NOI Build-Up for 6,440 SF
Gross rent
$167.7K $26.04/SF
− Vacancy
−$17.1K −$2.66/SF
EGI
$150.6K $23.38/SF
− OpEx
−$37.6K −$5.85/SF
NOI
$112.9K $17.54/SF
Area
Mecklenburg County, NC
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 Rate 5%
$2,258,880
Cap Rate 7%
$1,613,486
Cap Rate 9%
$1,254,933
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.88M
NOI $112,944 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,666 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
335
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Creative space - Updated office property with Highway Commercial (HC) zoning and a substantial land component.
Where is this creative space located?
The property is located at 18820 Statesville Rd Cornelius, NC.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: ±6,440 SF of creative office space; Approximately ±1.714 acres of land; 2021/2022 renovation
