Dilworth Office Building For
For Sale
Contact for pricing
315-329 Renssalaer Ave, Charlotte, NC
Office building in Dilworth, near South Boulevard and LYNX.
Property Size4,800 SF
Lot Size0.34 Acres
Price / SF$520.83
Days on Market449
Property Features for 315-329 Renssalaer Ave
General Information
Standard status
Active
Size
4,800 SF
Lot size
0.34 Acres
Property subtype
OFFICE
Listing Agency:
MPV Properties
(704) 975-0314
Listed By:
Bailey W Patrick, Jr. · License #287564
(704) 975-0314
Source:
Moodyscre
Added: May 20, 2025
Changed: Aug 8
Last Checked: Aug 10 at 7:53AM
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 MPV Properties
Investment Insights
Based on property information with market context.
This office building is available for sale. Situated on 0.44 acres in the Dilworth area, it is located one block from South Boulevard and offers on-site parking. The property provides pedestrian access to the LYNX Bland Street Station, reachable within approximately five minutes. The building has a size of 4,800 square feet. It is zoned TOD-NC (HD) Historic District Overlay by the City of Charlotte.
Key Highlights
- Prime Dilworth location, just a block from South Boulevard.
- Ample on‑site parking.
- 5‑minute pedestrian access to LYNX Bland Street Station.
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
$74,131
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
2.97%
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%
$1,482,620
$1.5M
Cap Rate 7%
$1,059,014
$1.1M
Cap Rate 9%
$823,678
$823.7K
Market Conditions
NOI Build-Up for 4,800 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
$119.8K $24.96/SF
− Vacancy
−$21.0K −$4.37/SF
EGI
$98.8K $20.59/SF
− OpEx
−$24.7K −$5.15/SF
NOI
$74.1K $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%
$1,482,620
Cap Rate 7%
$1,059,014
Cap Rate 9%
$823,678
Alternative Uses
Best Use
Office B
$1.06M
$926.6K – $1.24M
NOI $74,131 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,889 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
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 - Office building in Dilworth, near South Boulevard and LYNX.
Where is this office building located?
The property is located at 315-329 Renssalaer Ave Charlotte, NC.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime Dilworth location, just a block from South Boulevard.; Ample on‑site parking.; 5‑minute pedestrian access to LYNX Bland Street Station.
