Tenant-Occupied Office
For Sale
Contact for pricing
Pending
1905 J N Pease Place, Charlotte, NC 28262
Two leased office condo units are offered together, each zoned Research Campus (RC) with on-site parking.
Property Size1,984 SF
Days on Market126
Property Features for 1905 J N Pease Place
General Information
Standard status
Pending
Size
1,984 SF
Class
B
Property subtype
Office
Zoning
Research Campus (RC)
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Additional Details
Highway Access
Yes
Building Details
Year Built
2002
Buildings
2
Units
5
Tenancy
Multi
Listing Agency:
Carolina Realty Advisors
Listed By:
Rob Cassam · License #164661
(704) 442-1774
Source:
Crexi
Added: May 12
Changed: Aug 17
Last Checked: Sep 14 at 5:27AM
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 Carolina Realty Advisors
Investment Insights
Based on property information with market context.
For sale is a two-unit, tenant-occupied office condo package. The offering includes 1913-201 and 1905-104, both leased to established businesses. 1913-201 has been leased to a primary care physician practice since 2014, and 1905-104 has been leased to an IT staffing and consulting business since 2022, with solid rent histories for both tenants.
Both units are located in the University City area and are zoned Research Campus (RC). The property provides ample parking, estimated at ±5 spaces per 1,000 SF, and is positioned near Interstate 85 for convenient access to major transit routes and surrounding amenities.
This package presents a straightforward configuration for an investor or business seeking a leased office condo arrangement within a Research Campus zoning classification.
Both units are located in the University City area and are zoned Research Campus (RC). The property provides ample parking, estimated at ±5 spaces per 1,000 SF, and is positioned near Interstate 85 for convenient access to major transit routes and surrounding amenities.
This package presents a straightforward configuration for an investor or business seeking a leased office condo arrangement within a Research Campus zoning classification.
Key Highlights
- Two tenant‑occupied office condo units sold together as an investment package
- Year built 2002; both units are leased and include on‑site parking
- Both units are zoned Research Campus (RC): 1913‑201 and 1905‑104
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
$30,641
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
5.85%
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%
$612,820
$612.8K
Cap Rate 7%
$437,729
$437.7K
Cap Rate 9%
$340,456
$340.5K
Market Conditions
NOI Build-Up for 1,984 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
$49.5K $24.96/SF
− Vacancy
−$8.7K −$4.37/SF
EGI
$40.9K $20.59/SF
− OpEx
−$10.2K −$5.15/SF
NOI
$30.6K $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 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%
$612,820
Cap Rate 7%
$437,729
Cap Rate 9%
$340,456
Alternative Uses
Best Use
Office B
$437.7K
$383.0K – $510.7K
NOI $30,641 @ 7.0% cap · market cap 5.85%
Second Best
Healthcare Medical
$392.1K
$343.1K – $457.5K
NOI $27,448 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$660.7K
$578.1K – $770.8K
NOI $46,247 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,029
Businesses Nearby
Explore this area
Business Placement
Demographics for 28262, NC
46,048
Population
23,449
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
93%
High-School Grad
21.0 sq mi
ZIP Area
2,193
Density / Sq Mi
$66,757
Median Household Income
$47,201
Median Earnings
$1,481
Median Rent
$297,300
Median Home Value
Market
Vacancy Rate% for Office in Charlotte, NC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Two leased office condo units are offered together, each zoned Research Campus (RC) with on-site parking.
Where is this office units located?
The property is located at 1905 J N Pease Place Charlotte, NC.
What is the asking price?
The asking price for this property is $523,900.
What are key features of this property?
This property features: Two tenant‑occupied office condo units sold together as an investment package; Year built 2002; both units are leased and include on‑site parking; Both units are zoned Research Campus (RC): 1913‑201 and 1905‑104
