Two-Story Office Buildings
For Sale
Contact for pricing
228 Caldwell Lane, Davidson, NC 28036
Two 2003-built office buildings with ground and second-floor office layouts, each offering common parking and strong on-site access.
Property Size8,576 SF
Price / SF$227.38
Days on Market129
Property Features for 228 Caldwell Lane
General Information
Standard status
Active
Size
8,576 SF
Class
B
Property subtype
Office
Zoning
VIP
Building Details
Year Built
2003
Buildings
2
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Ascent Real Estate Partners
Listed By:
Chapman Chastain · License #NC 294788
(980) 266-9292
Source:
Crexi
Added: Apr 30
Changed: Aug 26
Last Checked: Sep 1 at 5:41PM
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 Ascent Real Estate Partners
Investment Insights
Based on property information with market context.
This for-sale portfolio includes two 2-story office buildings at 228 Caldwell Lane and 122 St Albans Lane, built in 2003. Each building provides four office spaces, with ground-floor offices featuring front and rear entry points and second-floor offices accessed via a common stairwell plus an exclusive balcony accessible from the suites.
Both buildings include two common parking spaces, with ample on-street parking available within close proximity to the property.
The portfolio is reported as 100% leased, with building sizes listed as 4,350 SF at 228 Caldwell Lane and 4,226 SF at 122 St Albans Lane.
Both buildings include two common parking spaces, with ample on-street parking available within close proximity to the property.
The portfolio is reported as 100% leased, with building sizes listed as 4,350 SF at 228 Caldwell Lane and 4,226 SF at 122 St Albans Lane.
Key Highlights
- Two 2003‑built office buildings with a total building size of 8,576 SF (4,350 SF + 4,226 SF)
- Both buildings are 100% leased
- Each building includes ground‑floor offices with front and rear access points of entry
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
$150,405
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
7.71%
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%
$3,008,100
$3.0M
Cap Rate 7%
$2,148,643
$2.1M
Cap Rate 9%
$1,671,167
$1.7M
Market Conditions
NOI Build-Up for 8,576 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
$223.3K $26.04/SF
− Vacancy
−$22.8K −$2.66/SF
EGI
$200.5K $23.38/SF
− OpEx
−$50.1K −$5.85/SF
NOI
$150.4K $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%
$3,008,100
Cap Rate 7%
$2,148,643
Cap Rate 9%
$1,671,167
Alternative Uses
Best Use
Office B
$2.15M
$1.88M – $2.51M
NOI $150,405 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.77M
$2.42M – $3.23M
NOI $193,980 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Explore this area
Business Placement
Demographics for 28036, NC
21,244
Population
8,339
Households
2.5
Avg Household Size
39
Median Age
68%
College-Educated
96%
High-School Grad
23.4 sq mi
ZIP Area
908
Density / Sq Mi
$144,920
Median Household Income
$66,202
Median Earnings
$1,709
Median Rent
$579,100
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 - Two 2003-built office buildings with ground and second-floor office layouts, each offering common parking and strong on-site access.
Where is this office units located?
The property is located at 228 Caldwell Lane Davidson, NC.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Two 2003‑built office buildings with a total building size of 8,576 SF (4,350 SF + 4,226 SF); Both buildings are 100% leased; Each building includes ground‑floor offices with front and rear access points of entry
