Second-Floor Office Condominium
For Sale
$279,000
Pending
2101 Sardis Road N #206A, Charlotte, NC 28227
Renovated second-floor office suite with an open layout, two windowed offices, and ample parking.
Property Size1,100 SF
Days on Market52
Property Features for 2101 Sardis Road N #206A
General Information
Standard status
Pending
Size
1,100 SF
Property subtype
Commercial
Amenities
Central air
Heat Pump Cooling
Heat Pump Heating
Laminate Flooring
Rubber Roof
Building Details
Year Built
1986
Listing Agency:
COLDWELL BANKER REALTY
(704) 541-5111
Listed By:
PETER RIEKE · License #292618ANDSC100374S
Source:
Corcoran
Added: Jun 19
Changed: Aug 7
Last Checked: Aug 5 at 4:04AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
The Crown Centre Office Building offers a move-in-ready second-floor office condominium suite designed for flexible day-to-day use. The space includes a mostly open layout supported by two private, windowed offices, with common area bathrooms available within the building. The suite is described as recently renovated and modernized, and it also benefits from fast fiber in the building.
The property provides elevator access to the second floor and includes generous parking for staff and visitors. The listing notes easy access to Hwy 75, 485, 51, and Monroe Expressway, supporting convenient commutes for employees and customers. Common-area access and the building’s second-floor configuration make the suite straightforward for professional office operations.
For buyers, this suite is presented as part of two office condos that must be sold together and work only as one space, providing a combined office configuration for an owner-occupant or an end-user seeking dedicated space. For tenants, the listing states the space is also available to lease on a modified gross basis. POA dues are identified at $336.24 per month, with elevator service and shared facilities supporting practical, managed occupancy.
The property provides elevator access to the second floor and includes generous parking for staff and visitors. The listing notes easy access to Hwy 75, 485, 51, and Monroe Expressway, supporting convenient commutes for employees and customers. Common-area access and the building’s second-floor configuration make the suite straightforward for professional office operations.
For buyers, this suite is presented as part of two office condos that must be sold together and work only as one space, providing a combined office configuration for an owner-occupant or an end-user seeking dedicated space. For tenants, the listing states the space is also available to lease on a modified gross basis. POA dues are identified at $336.24 per month, with elevator service and shared facilities supporting practical, managed occupancy.
Key Highlights
- Renovated 1,100 SF second‑floor office condo suite with mostly open layout plus two private windowed offices
- 2 office condos are sold together and work as one combined space; elevator access to the second floor
- Common area bathrooms and elevator access; suite layout includes two private offices off the open area
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
$19,292
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
6.91%
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%
$385,840
$385.8K
Cap Rate 7%
$275,600
$275.6K
Cap Rate 9%
$214,356
$214.4K
Market Conditions
NOI Build-Up for 1,100 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
$28.6K $26.04/SF
− Vacancy
−$2.9K −$2.66/SF
EGI
$25.7K $23.38/SF
− OpEx
−$6.4K −$5.85/SF
NOI
$19.3K $17.54/SF
Area
ZIP 28227
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%
$385,840
Cap Rate 7%
$275,600
Cap Rate 9%
$214,356
Alternative Uses
Best Use
Office B
$275.6K
$241.2K – $321.5K
NOI $19,292 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$391.9K
$342.9K – $457.2K
NOI $27,434 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,445
Businesses Nearby
Explore this area
Business Placement
Demographics for 28227, NC
57,126
Population
23,179
Households
2.5
Avg Household Size
38
Median Age
30%
College-Educated
87%
High-School Grad
40.2 sq mi
ZIP Area
1,421
Density / Sq Mi
$75,322
Median Household Income
$41,742
Median Earnings
$1,412
Median Rent
$313,900
Median Home Value
Market
Vacancy Rate% for Office in Charlotte, NC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Renovated second-floor office suite with an open layout, two windowed offices, and ample parking.
Where is this office units located?
The property is located at 2101 Sardis Road N #206A Charlotte, NC.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Renovated 1,100 SF second‑floor office condo suite with mostly open layout plus two private windowed offices; 2 office condos are sold together and work as one combined space; elevator access to the second floor; Common area bathrooms and elevator access; suite layout includes two private offices off the open area
