Vacant Flex
For Sale
Contact for pricing
3013 Bank Street, Charlotte, NC 28203
ML-2-zoned commercial property combining office and warehouse functionality for a range of business operations.
Property Size11,125 SF
Price / SF$323.60
Days on Market14
Property Features for 3013 Bank Street
General Information
Standard status
Active
Size
11,125 SF
Total Parking Spaces
18
Property subtype
Office, Industrial
Zoning
ML-2
Building Details
Year Built
1957
Year Renovated
2021
Stories
1
Listing Agency:
Bertolina Commercial Real Estate Services Inc
(704) 333-9881
Listed By:
Ian Bertolina · License #NC 129379
Source:
Crexi
Added: Aug 8
Changed: Aug 20
Last Checked: Aug 20 at 12:23PM
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 Bertolina Commercial Real Estate Services Inc
Investment Insights
Based on property information with market context.
This flex property contains 11,125 square feet and is configured for office and warehouse use. The building was constructed in 1957 and is designated ML-2. Delivery will occur with the property vacant, allowing the next owner to plan occupancy around its existing commercial layout. Property condition should be independently verified by interested parties.
Key Highlights
- 11,125‑square‑foot flex property
- Office and warehouse configuration
- ML‑2 zoning
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
$171,815
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
4.77%
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%
$3,436,300
$3.4M
Cap Rate 7%
$2,454,500
$2.5M
Cap Rate 9%
$1,909,056
$1.9M
Market Conditions
NOI Build-Up for 11,125 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
$277.7K $24.96/SF
− Vacancy
−$48.6K −$4.37/SF
EGI
$229.1K $20.59/SF
− OpEx
−$57.3K −$5.15/SF
NOI
$171.8K $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%
$3,436,300
Cap Rate 7%
$2,454,500
Cap Rate 9%
$1,909,056
Alternative Uses
Best Use
Office B
$2.45M
$2.15M – $2.86M
NOI $171,815 @ 7.0% cap · market cap 4.77%
Second Best
Flex RnD
$1.73M
$1.51M – $2.02M
NOI $121,051 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,325 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28203, NC
18,572
Population
11,641
Households
1.6
Avg Household Size
30
Median Age
80%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
5,991
Density / Sq Mi
$103,860
Median Household Income
$73,695
Median Earnings
$1,829
Median Rent
$708,600
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?
Flex space - ML-2-zoned commercial property combining office and warehouse functionality for a range of business operations.
Where is this flex space located?
The property is located at 3013 Bank Street Charlotte, NC.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 11,125‑square‑foot flex property; Office and warehouse configuration; ML‑2 zoning
