Retail
For Sale
Contact for pricing
404 CENTRE ST, Charlotte, NC 28216
Established commercial property in Charlotte, North Carolina.
Property Size1,272 SF
Price / SF$428.46
Days on Market8
Property Features for 404 CENTRE ST
General Information
Standard status
Active
Size
1,272 SF
Property subtype
Retail
Building Details
Year Built
1953
Stories
1
Units
1
Listing Agency:
JINHEE LEE INC
Listed By:
Jinhee Lee · License #NC 258665
(704) 787-1411
Source:
Crexi
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 9:34PM
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 JINHEE LEE INC
Investment Insights
Based on property information with market context.
This retail property contains 1,272 square feet of commercial space. The building was constructed in 1953 and is located at 404 Centre St. in Charlotte, North Carolina. The asset is offered for sale as a retail space.
Key Highlights
- 1,272 SF of retail space
- Constructed in 1953
- Located at 404 CENTRE ST, CHARLOTTE, NC
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
$21,297
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
3.91%
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%
$425,940
$425.9K
Cap Rate 7%
$304,243
$304.2K
Cap Rate 9%
$236,633
$236.6K
Market Conditions
NOI Build-Up for 1,272 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
$31.3K $24.60/SF
− Vacancy
−$867 −$0.68/SF
EGI
$30.4K $23.92/SF
− OpEx
−$9.1K −$7.18/SF
NOI
$21.3K $16.74/SF
Area
ZIP 28216
Vacancy
2.77%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
30.00%
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%
$425,940
Cap Rate 7%
$304,243
Cap Rate 9%
$236,633
Alternative Uses
Best Use
Retail
$304.2K
$266.2K – $355.0K
NOI $21,297 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$448.4K
$392.4K – $523.1K
NOI $31,388 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Hotels & Casinos 10%
Mobil
Shops & Services
5,359 visits/mo
0.5 miles
Raceway
Shops & Services
4,695 visits/mo
0.5 miles
Rodeway Inn Charlotte North Carolina
Hotels & Casinos
1,169 visits/mo
0.3 miles
Caliber Collision
Shops & Services
836 visits/mo
0.5 miles
Demographics for 28216, NC
57,196
Population
24,902
Households
2.3
Avg Household Size
35
Median Age
35%
College-Educated
89%
High-School Grad
30.0 sq mi
ZIP Area
1,907
Density / Sq Mi
$64,977
Median Household Income
$43,643
Median Earnings
$1,464
Median Rent
$246,100
Median Home Value
Market
Vacancy Rate% for Retail in Charlotte, NC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Established commercial property in Charlotte, North Carolina.
Where is this retail space located?
The property is located at 404 CENTRE ST Charlotte, NC.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 1,272 SF of retail space; Constructed in 1953; Located at 404 CENTRE ST, CHARLOTTE, NC
