Mixed-Use Property with Detached
For Sale
$879,000
19428 Zion Avenue, Cornelius, NC 28031
NMX-zoned property combines office-oriented space with a main house, separate studio, flex area, and detached garage.
Property Size2,119 SF
Lot Size1.00 Acre
Price / SF$414.82
Days on Market8
Property Features for 19428 Zion Avenue
General Information
Standard status
Active
Size
2,119 SF
Lot size
1.00 Acre
Property subtype
Commercial
Zoning
NMX
Additional Details
Mixed-Use Components
residential, retail
Office Units
2
Property Use
Office
Amenities
wood floors
fireplace
updated kitchen and baths
large deck
secure storage
carport
high ceilings
covered boat/rv parking
Building Details
Year Built
1911
Buildings
5
Listing Agency:
Lake Norman Realty, Inc
Listed By:
Nikki Robinson · License #282886
(704) 615-1722
Source:
Geoffcampbell
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 29 at 10:07PM
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 Lake Norman Realty, Inc
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Investment Insights
Based on property information with market context.
Built in 1911, this one-acre mixed-use property includes a main house, detached studio, flex space, detached garage, and several storage areas. The two units contain a combined 2,119 square feet. Interior features include wood flooring, a fireplace, an updated kitchen and baths, and a large deck. A carport and secure storage are also on site, along with an asphalt parking area with more than 20 spaces. The detached garage has two bays and high ceilings, and covered parking is available for a boat or RV.
The property is zoned NMX and sits near Antiquity and Old Town Cornelius. The main house may serve as a residence or support a home-based business; the property is also described for office, medi-spa, retail, and neighborhood service uses.
The property is zoned NMX and sits near Antiquity and Old Town Cornelius. The main house may serve as a residence or support a home-based business; the property is also described for office, medi-spa, retail, and neighborhood service uses.
Key Highlights
- One‑acre property with two units totaling 2,119 Sq Ft
- NMX zoning
- Main house, detached studio, flex space, and multiple storage areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,163
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,260
$743.3K
Cap Rate 7%
$530,900
$530.9K
Cap Rate 9%
$412,922
$412.9K
Market Conditions
NOI Build-Up for 2,119 SF
Gross rent
$55.2K $26.04/SF
− Vacancy
−$5.6K −$2.66/SF
EGI
$49.6K $23.38/SF
− OpEx
−$12.4K −$5.85/SF
NOI
$37.2K $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%
$743,260
Cap Rate 7%
$530,900
Cap Rate 9%
$412,922
Alternative Uses
Best Use
Office B
$530.9K
$464.5K – $619.4K
NOI $37,163 @ 7.0% cap · market cap 4.23%
Second Best
Mixed Use
$349.6K
$305.9K – $407.9K
NOI $24,474 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$684.7K
$599.1K – $798.8K
NOI $47,930 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
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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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - NMX-zoned property combines office-oriented space with a main house, separate studio, flex area, and detached garage.
Where is this mixed-use property located?
The property is located at 19428 Zion Avenue Cornelius, NC.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: One‑acre property with two units totaling 2,119 Sq Ft; NMX zoning; Main house, detached studio, flex space, and multiple storage areas
