Professional Office
New
For Sale
$475,000
2116 Crown Centre Drive Suite 300, Charlotte, NC 28227
The layout combines private workspaces with reception, meeting, open-plan, kitchen, and storage areas.
Property Size1,722 SF
Price / SF$275.84
Days on Market4
Property Features for 2116 Crown Centre Drive Suite 300
General Information
Standard status
Active
Size
1,722 SF
Total Parking Spaces
34
Property subtype
Office
Zoning
ML-1
Amenities
multiple private offices
reception and lobby area
conference room
open work area
kitchen
supporting storage space
Building Details
Building Size
1,722 SF
Year Built
2004
Stories
1
Listing Agency:
Coldwell Banker Realty - Ballantyne
Listed By:
Ryan Pilsy · License #309014
(980) 339-9174
Source:
Cbcworldwide
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 4 at 6:21AM
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 - Ballantyne
Investment Insights
Based on property information with market context.
Suite 300 at Tower Pointe Professional Center provides 1,722 square feet of office space. Its layout includes multiple enclosed offices, a reception and lobby, a conference room, open work area, kitchen, and storage. The building was constructed in 2004, and the property is zoned ML-1.
The suite is at 2116 Crown Centre Drive in Charlotte, North Carolina.
The suite is at 2116 Crown Centre Drive in Charlotte, North Carolina.
Key Highlights
- 1,722‑square‑foot office suite
- Multiple private offices plus reception, conference, open work, kitchen, and storage areas
- Located in Tower Pointe Professional Center at 2116 Crown Centre Drive, Charlotte, NC 28227
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
$30,200
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
6.36%
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%
$604,000
$604.0K
Cap Rate 7%
$431,429
$431.4K
Cap Rate 9%
$335,556
$335.6K
Market Conditions
NOI Build-Up for 1,722 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
$44.8K $26.04/SF
− Vacancy
−$4.6K −$2.66/SF
EGI
$40.3K $23.38/SF
− OpEx
−$10.1K −$5.85/SF
NOI
$30.2K $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%
$604,000
Cap Rate 7%
$431,429
Cap Rate 9%
$335,556
Alternative Uses
Best Use
Office B
$431.4K
$377.5K – $503.3K
NOI $30,200 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$613.5K
$536.8K – $715.8K
NOI $42,947 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,376
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - The layout combines private workspaces with reception, meeting, open-plan, kitchen, and storage areas.
Where is this office units located?
The property is located at 2116 Crown Centre Drive Suite 300 Charlotte, NC.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,722‑square‑foot office suite; Multiple private offices plus reception, conference, open work, kitchen, and storage areas; Located in Tower Pointe Professional Center at 2116 Crown Centre Drive, Charlotte, NC 28227
