Updated Freestanding Office
For Sale
Contact for pricing
2344 The Plaza, Charlotte, NC 28205
Private offices, reception, and waiting areas create a practical setting for client-facing operations.
Property Size1,700 SF
Price / SF$461.76
Days on Market165
Property Features for 2344 The Plaza
General Information
Standard status
Active
Size
1,700 SF
Total Parking Spaces
7
Property subtype
Retail, Office
Zoning
CG (Commercial General)
Listing Agency:
Blanq Real Estate
(704) 727-6202
Listed By:
Clifford Blanquicet Jr · License #NC 281011
Source:
Crexi
Added: Mar 20
Changed: Aug 30
Last Checked: Aug 30 at 5:59PM
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 Blanq Real Estate
Investment Insights
Based on property information with market context.
This freestanding office property provides approximately 1,700 square feet of updated commercial space arranged for professional use. The interior includes a reception area, several private offices, designated waiting areas, a kitchen and break room, plus additional support areas that contribute to an efficient workplace layout.
Positioned at 2344 The Plaza in Charlotte, the property is within the Plaza Midwood corridor and carries CG (Commercial General) zoning. Its combination of private work areas, customer-facing space, and staff amenities supports a range of office-oriented operations.
Positioned at 2344 The Plaza in Charlotte, the property is within the Plaza Midwood corridor and carries CG (Commercial General) zoning. Its combination of private work areas, customer-facing space, and staff amenities supports a range of office-oriented operations.
Key Highlights
- Approximately 1,700 square feet of updated office space
- Freestanding commercial building at 2344 The Plaza
- Reception area and multiple private offices
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
$26,255
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
3.34%
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%
$525,100
$525.1K
Cap Rate 7%
$375,071
$375.1K
Cap Rate 9%
$291,722
$291.7K
Market Conditions
NOI Build-Up for 1,700 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
$42.4K $24.96/SF
− Vacancy
−$7.4K −$4.37/SF
EGI
$35.0K $20.59/SF
− OpEx
−$8.8K −$5.15/SF
NOI
$26.3K $15.44/SF
Area
Charlotte, NC
Vacancy
17.50%
Lease Rate
$24.96 /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%
$525,100
Cap Rate 7%
$375,071
Cap Rate 9%
$291,722
Alternative Uses
Best Use
Office B
$375.1K
$328.2K – $437.6K
NOI $26,255 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$566.1K
$495.3K – $660.5K
NOI $39,627 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
Explore this area
Business Placement
Demographics for 28205, NC
49,600
Population
24,605
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
86%
High-School Grad
11.8 sq mi
ZIP Area
4,203
Density / Sq Mi
$72,479
Median Household Income
$49,340
Median Earnings
$1,376
Median Rent
$410,800
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 building - Private offices, reception, and waiting areas create a practical setting for client-facing operations.
Where is this office building located?
The property is located at 2344 The Plaza Charlotte, NC.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Approximately 1,700 square feet of updated office space; Freestanding commercial building at 2344 The Plaza; Reception area and multiple private offices
