Modern Flex
For Sale
Contact for pricing
4505 Old Charlotte Hwy, Monroe, NC 28110
Light industrial zoning supports a practical combination of conditioned office and heated warehouse space.
Property Size3,200 SF
Price / SF$406.25
Days on Market233
Property Features for 4505 Old Charlotte Hwy
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
5
Property subtype
INDUSTRIAL
Zoning
Light Industrial
Warehouse & Industrial
Warehouse Space
2,144 SF
Office Build-Out
1,056 SF
Building Details
Year Built
2023
Buildings
1
Building Size
3,200 SF
Listing Agency:
Walt Perry Realty
(704) 507-8128
Listed By:
Jessica Perry
(704) 507-8128
Source:
Moodyscre
Added: Jan 9
Changed: Aug 29
Last Checked: Aug 29 at 9:42PM
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 Walt Perry Realty
Investment Insights
Based on property information with market context.
Constructed in 2023, this 3,200-square-foot flex building at 4505 Old Charlotte Hwy combines 1,056 square feet of HVAC-conditioned office space with a 2,144-square-foot warehouse heated by gas. A roll-up loading door supports day-to-day operations, while two handicap-accessible restrooms and five on-site parking spaces add functional convenience. The property is identified as Light Industrial within the Indian Trail ETJ; permitted uses should be confirmed with the Town of Indian Trail.
The building is approximately 3 minutes from Monroe Executive Airport and is positioned near the Indian Trail Shopping & Social District and Sun Valley schools. The site also has immediate access to major residential developments and expanding rooftops. Its 2023 construction, balanced office-to-warehouse layout, and stated suitability for owner-users or investors provide a straightforward format for industrial operations or ownership.
The building is approximately 3 minutes from Monroe Executive Airport and is positioned near the Indian Trail Shopping & Social District and Sun Valley schools. The site also has immediate access to major residential developments and expanding rooftops. Its 2023 construction, balanced office-to-warehouse layout, and stated suitability for owner-users or investors provide a straightforward format for industrial operations or ownership.
Key Highlights
- 3,200 SF total building area constructed in 2023
- 1,056 SF HVAC‑conditioned office space
- 2,144 SF warehouse with gas heat
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
$49,934
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
3.84%
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%
$998,680
$998.7K
Cap Rate 7%
$713,343
$713.3K
Cap Rate 9%
$554,822
$554.8K
Market Conditions
NOI Build-Up for 3,200 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
$83.3K $26.04/SF
− Vacancy
−$16.7K −$5.23/SF
EGI
$66.6K $20.81/SF
− OpEx
−$16.6K −$5.20/SF
NOI
$49.9K $15.60/SF
Area
Union County, NC
Vacancy
20.10%
Lease Rate
$26.04 /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%
$998,680
Cap Rate 7%
$713,343
Cap Rate 9%
$554,822
Alternative Uses
Best Use
Office B
$713.3K
$624.2K – $832.2K
NOI $49,934 @ 7.0% cap · market cap 3.84%
Second Best
Flex RnD
$529.6K
$463.4K – $617.9K
NOI $37,071 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$988.4K
$864.9K – $1.15M
NOI $69,189 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28110, NC
53,316
Population
20,236
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
127.4 sq mi
ZIP Area
418
Density / Sq Mi
$81,221
Median Household Income
$41,425
Median Earnings
$1,313
Median Rent
$302,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Light industrial zoning supports a practical combination of conditioned office and heated warehouse space.
Where is this flex space located?
The property is located at 4505 Old Charlotte Hwy Monroe, NC.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3,200 SF total building area constructed in 2023; 1,056 SF HVAC‑conditioned office space; 2,144 SF warehouse with gas heat
