Freestanding Flex
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For Sale
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4010-4012 North Graham Street, Charlotte, NC 28206
Move-in ready property combining finished office areas with warehouse functionality and direct drive-in access.
Property Size6,092 SF
Price / SF$377.54
Days on Market7
Property Features for 4010-4012 North Graham Street
General Information
Standard status
Active
Size
6,092 SF
Total Parking Spaces
16
Property subtype
Office, Industrial
Zoning
ML2
Warehouse & Industrial
Clear Height
13 ft
Warehouse Space
2,092 SF
Office Build-Out
4,000 SF
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Built
1971
Year Renovated
2020
Buildings
1
Stories
1
Listing Agency:
MECA Commercial Real Estate
Listed By:
Cooper Bortz · License #358966
Source:
Crexi
Added: Aug 28
Changed: Sep 3
Last Checked: Sep 3 at 2:02AM
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 MECA Commercial Real Estate
Investment Insights
Based on property information with market context.
This freestanding flex property, built in 1971, contains 6,092 SF arranged for both office and industrial operations. The interior includes 4,000 SF of finished office space suitable for professional, showroom, or administrative functions, along with a 2,092 SF warehouse featuring 13-foot clear heights and a 10-by-11-foot drive-in door. The building is identified as ML2 zoning and is described as move-in ready.
Located at 4010-4012 North Graham Street in Charlotte, North Carolina, the property provides access to I-85, I-277, and Uptown Charlotte. Its combination of finished workspace and dedicated warehouse area supports flexible occupancy for an owner-user or investor.
Located at 4010-4012 North Graham Street in Charlotte, North Carolina, the property provides access to I-85, I-277, and Uptown Charlotte. Its combination of finished workspace and dedicated warehouse area supports flexible occupancy for an owner-user or investor.
Key Highlights
- 6,092 SF freestanding flex property at 4010‑4012 North Graham Street
- 4,000 SF of finished office space
- 2,092 SF warehouse with 13' clear heights
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
$94,085
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
4.09%
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%
$1,881,700
$1.9M
Cap Rate 7%
$1,344,071
$1.3M
Cap Rate 9%
$1,045,389
$1.0M
Market Conditions
NOI Build-Up for 6,092 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
$152.1K $24.96/SF
− Vacancy
−$26.6K −$4.37/SF
EGI
$125.4K $20.59/SF
− OpEx
−$31.4K −$5.15/SF
NOI
$94.1K $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%
$1,881,700
Cap Rate 7%
$1,344,071
Cap Rate 9%
$1,045,389
Alternative Uses
Best Use
Office B
$1.34M
$1.18M – $1.57M
NOI $94,085 @ 7.0% cap · market cap 4.09%
Second Best
Warehouse
$1.08M
$944.1K – $1.26M
NOI $75,529 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,005 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
13 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28206, NC
14,053
Population
7,094
Households
2
Avg Household Size
33
Median Age
32%
College-Educated
83%
High-School Grad
7.0 sq mi
ZIP Area
2,008
Density / Sq Mi
$51,456
Median Household Income
$42,186
Median Earnings
$1,225
Median Rent
$239,700
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 - Move-in ready property combining finished office areas with warehouse functionality and direct drive-in access.
Where is this flex space located?
The property is located at 4010-4012 North Graham Street Charlotte, NC.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 6,092 SF freestanding flex property at 4010‑4012 North Graham Street; 4,000 SF of finished office space; 2,092 SF warehouse with 13' clear heights
