Flexible Live-Work
For Sale
$675,000
19641 S Main Street, Cornelius, NC 28031
Downtown property with potential for residential use and certain light commercial applications.
Property Size1,940 SF
Days on Market9
Property Features for 19641 S Main Street
General Information
Standard status
Active
Size
1,940 SF
Property subtype
Office
Zoning
NMX
Amenities
Size: 0.126, Size Units: Acres
Details: Central Air
Heating: Natural Gas
Days on Market: 0, Listing Price: 675000, Status: Coming Soon-No Show
Construction Materials: Aluminum, Vinyl, Year Built: 1940, Construction Type: Site Built
City: Cornelius, State: NC, Zip: 28031, County: Mecklenburg
Sewer: Public Sewer, Water Source: City
Auction Y/N: 0
Description: Dishwasher, Exhaust Hood, Other
Building Details
Building Size
1,940 SF
Year Built
1940
Listing Agency:
Southern Homes of the Carolinas, Inc
(910) 619-0060
Listed By:
Ashley Crawford
(910) 619-0060
Source:
Blackstreaminternational
Added: Aug 23
Changed: Aug 30
Last Checked: Aug 30 at 5:27PM
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 Southern Homes of the Carolinas, Inc
Investment Insights
Based on property information with market context.
Located at 19641 S Main Street in Downtown Cornelius, this live-work property presents potential for residential occupancy, a live-work arrangement, or certain light commercial uses associated with NMX zoning. The property was built in 1940, and the available information supports a flexible use profile rather than a single defined operating format.
The central downtown setting places the property near local shops, restaurants, and community amenities. Its address is in Cornelius, North Carolina, within an area described as experiencing ongoing growth and revitalization. The combination of residential and commercial-use potential may suit an owner-occupant, investor, or entrepreneur seeking a property with multiple possible directions.
The central downtown setting places the property near local shops, restaurants, and community amenities. Its address is in Cornelius, North Carolina, within an area described as experiencing ongoing growth and revitalization. The combination of residential and commercial-use potential may suit an owner-occupant, investor, or entrepreneur seeking a property with multiple possible directions.
Key Highlights
- Live‑work space with potential for residential use
- Potential for certain light commercial uses associated with NMX zoning
- Built in 1940
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
$34,024
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
5.04%
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%
$680,480
$680.5K
Cap Rate 7%
$486,057
$486.1K
Cap Rate 9%
$378,044
$378.0K
Market Conditions
NOI Build-Up for 1,940 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
$50.5K $26.04/SF
− Vacancy
−$5.2K −$2.66/SF
EGI
$45.4K $23.38/SF
− OpEx
−$11.3K −$5.85/SF
NOI
$34.0K $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 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%
$680,480
Cap Rate 7%
$486,057
Cap Rate 9%
$378,044
Alternative Uses
Best Use
Office B
$486.1K
$425.3K – $567.1K
NOI $34,024 @ 7.0% cap · market cap 5.04%
Second Best
Mixed Use
$320.1K
$280.1K – $373.5K
NOI $22,407 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$626.9K
$548.5K – $731.4K
NOI $43,881 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
545
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Downtown property with potential for residential use and certain light commercial applications.
Where is this live-work space located?
The property is located at 19641 S Main Street Cornelius, NC.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Live‑work space with potential for residential use; Potential for certain light commercial uses associated with NMX zoning; Built in 1940
