Cornelius Office Condo For
For Sale
$400,000
19701 Bethel Church Road #301, Cornelius, NC 28031
Versatile commercial office condo in prime Cornelius location.
Property Size1,412 SF
Price / SF$283.29
Days on Market225
Property Features for 19701 Bethel Church Road #301
General Information
Standard status
Active
Size
1,412 SF
Property subtype
Commercial
Amenities
Central air
Central Air Cooling
Forced Air Heating
Natural Gas Heating
Parking Lot
Tile Flooring
Vinyl Flooring
Building Details
Year Built
2002
Listing Agency:
EXP REALTY LLC MOORESVILLE
(336) 398-3824
Listed By:
JEFF ARZONICO
Source:
Corcoran
Added: Jan 9
Changed: Aug 18
Last Checked: Aug 22 at 7:26AM
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 EXP REALTY LLC MOORESVILLE
Investment Insights
Based on property information with market context.
This commercial office condo is located in a prime Cornelius location and offers convenient access to Highway 77, facilitating service to clients throughout the Lake Norman area. The 1412-square-foot unit features a functional two-room configuration, including two private offices and a large meeting room or open workspace. It also includes two bathrooms and a full kitchen. Previously used as a real estate office for a team of eight agents, the well-maintained unit is suitable for a range of uses. The unit is available fully furnished, offering a turnkey opportunity for immediate occupancy.
Key Highlights
- Prime Cornelius location with easy access to Highway 77, serving the Lake Norman area.
- Turnkey opportunity: Available fully furnished for immediate occupancy.
- Versatile commercial office condo suitable for various professional uses.
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
$24,764
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
6.19%
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%
$495,280
$495.3K
Cap Rate 7%
$353,771
$353.8K
Cap Rate 9%
$275,156
$275.2K
Market Conditions
NOI Build-Up for 1,412 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
$36.8K $26.04/SF
− Vacancy
−$3.8K −$2.66/SF
EGI
$33.0K $23.38/SF
− OpEx
−$8.3K −$5.85/SF
NOI
$24.8K $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%
$495,280
Cap Rate 7%
$353,771
Cap Rate 9%
$275,156
Alternative Uses
Best Use
Office B
$353.8K
$309.6K – $412.7K
NOI $24,764 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$456.3K
$399.2K – $532.3K
NOI $31,938 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,635
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?
Office units - Versatile commercial office condo in prime Cornelius location.
Where is this office units located?
The property is located at 19701 Bethel Church Road #301 Cornelius, NC.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Prime Cornelius location with easy access to Highway 77, serving the Lake Norman area.; Turnkey opportunity: Available fully furnished for immediate occupancy.; Versatile commercial office condo suitable for various professional uses.
