Industrial Flex Space For
For Sale
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3250 Green Park Cir, Charlotte, NC 28217
Industrial flex property with office and warehouse space available.
Property Size7,948 SF
Lot Size2.18 Acres
Price / SF$301.33
Days on Market176
Property Features for 3250 Green Park Cir
General Information
Standard status
Active
Size
7,948 SF
Lot size
2.18 Acres
Property subtype
Industrial
Zoning
B-D(CD (ANDO
Listing Agency:
Walters Commercial Real Estate Services LLC
(704) 608-0212
Listed By:
Norman Walters · License #NC 112749
Source:
Crexi
Added: Feb 20
Changed: Aug 14
Last Checked: Aug 14 at 7:24AM
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 Walters Commercial Real Estate Services LLC
Investment Insights
Based on property information with market context.
This industrial flex property offers a blend of 3,006 square feet of office space and 4,942 square feet of warehouse space. The warehouse includes existing racking and an 8' x 8' dock-high door. Located on a 2.18-acre lot, the building features office bathrooms equipped with showers, along with industrial amenities such as exhaust fans and gas heaters. The property is strategically positioned near I-77 and the Charlotte Douglas International Airport, making it suitable for businesses seeking a central location with convenient access to transportation routes.
Key Highlights
- Strategic location near I‑77 and Charlotte Douglas International Airport for easy transportation access.
- Versatile industrial flex space with 3,006 SF office and 4,942 SF warehouse.
- Spacious 2.18‑acre lot.
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
$86,482
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
3.61%
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%
$1,729,640
$1.7M
Cap Rate 7%
$1,235,457
$1.2M
Cap Rate 9%
$960,911
$960.9K
Market Conditions
NOI Build-Up for 7,948 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
$143.1K $18.00/SF
− Vacancy
−$10.0K −$1.26/SF
EGI
$133.0K $16.74/SF
− OpEx
−$46.6K −$5.86/SF
NOI
$86.5K $10.88/SF
Area
Charlotte, NC
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,729,640
Cap Rate 7%
$1,235,457
Cap Rate 9%
$960,911
Alternative Uses
Best Use
Flex RnD
$1.24M
$1.08M – $1.44M
NOI $86,482 @ 7.0% cap · market cap 3.61%
Second Best
Industrial
$1.16M
$1.01M – $1.35M
NOI $81,151 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$2.65M
$2.32M – $3.09M
NOI $185,269 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28217, NC
28,955
Population
13,615
Households
2.1
Avg Household Size
32
Median Age
35%
College-Educated
80%
High-School Grad
14.9 sq mi
ZIP Area
1,943
Density / Sq Mi
$60,397
Median Household Income
$37,338
Median Earnings
$1,498
Median Rent
$238,500
Median Home Value
Market
Vacancy Rate% for Industrial in Charlotte, NC
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property with office and warehouse space available.
Where is this flex space located?
The property is located at 3250 Green Park Cir Charlotte, NC.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Strategic location near I‑77 and Charlotte Douglas International Airport for easy transportation access.; Versatile industrial flex space with **3,006 SF office and 4,942 SF warehouse**.; Spacious 2.18‑acre lot.
