Renovated Office
For Sale
Contact for pricing
21000 Torrence Chapel Rd, Cornelius, NC 28031
Fully leased, 2024-renovated office building offering turnkey occupancy for an owner-operator or investor.
Property Size9,135 SF
Lot Size0.80 Acres
Price / SF$404.49
Days on Market144
Property Features for 21000 Torrence Chapel Rd
General Information
Standard status
Active
Size
9,135 SF
Lot size
0.80 Acres
Property subtype
Office
Occupancy
100%
Building Details
Year Renovated
2024
Listing Agency:
Knox Group Inc
Listed By:
Michelle Polito · License #NC 335054
(704) 896-1911
Source:
Crexi
Added: May 30
Changed: Oct 19
Last Checked: Oct 19 at 5:52AM
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 Knox Group Inc
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Investment Insights
Based on property information with market context.
This for-sale office building was fully renovated in 2024 and is currently fully leased. The property totals approximately 9,135 square feet, situated on about 0.80 acres.
The building is located at 21000 Torrence Chapel Rd in Cornelius, North Carolina. With a compact site footprint, the property is set up to serve office tenants seeking a dedicated facility.
For prospective buyers, the combination of full occupancy and 2024 renovations may appeal to those looking for a turn-key office asset with current tenant in place. The offering includes the entire building and leased space, allowing an operator or investor to evaluate the property as-is based on the existing lease situation.
The building is located at 21000 Torrence Chapel Rd in Cornelius, North Carolina. With a compact site footprint, the property is set up to serve office tenants seeking a dedicated facility.
For prospective buyers, the combination of full occupancy and 2024 renovations may appeal to those looking for a turn-key office asset with current tenant in place. The offering includes the entire building and leased space, allowing an operator or investor to evaluate the property as-is based on the existing lease situation.
Key Highlights
- Fully leased office building at 21000 Torrence Chapel Rd, Cornelius, NC 28031
- Completely renovated in 2024
- 9,135 +/- SF total building size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,209
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,204,180
$3.2M
Cap Rate 7%
$2,288,700
$2.3M
Cap Rate 9%
$1,780,100
$1.8M
Market Conditions
NOI Build-Up for 9,135 SF
Gross rent
$237.9K $26.04/SF
− Vacancy
−$24.3K −$2.66/SF
EGI
$213.6K $23.38/SF
− OpEx
−$53.4K −$5.85/SF
NOI
$160.2K $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%
$3,204,180
Cap Rate 7%
$2,288,700
Cap Rate 9%
$1,780,100
Alternative Uses
Best Use
Office B
$2.29M
$2.00M – $2.67M
NOI $160,209 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,624 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
673
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?
Office building - Fully leased, 2024-renovated office building offering turnkey occupancy for an owner-operator or investor.
Where is this office building located?
The property is located at 21000 Torrence Chapel Rd Cornelius, NC.
What is the asking price?
The asking price for this property is $3,695,000.
What are key features of this property?
This property features: Fully leased office building at 21000 Torrence Chapel Rd, Cornelius, NC 28031; Completely renovated in 2024; 9,135 +/- SF total building size
