Upstairs Office
New
For Sale
$730,000
4523 Park Road #A201, Charlotte, NC 28209
Professional office unit with dedicated parking and OFC zoning near Park Road.
Property Size1,920 SF
Price / SF$380.21
Days on Market5
Property Features for 4523 Park Road #A201
General Information
Standard status
Active
Size
1,920 SF
Total Parking Spaces
7
Property subtype
Commercial
Zoning
OFC
Additional Details
HOA Fee
$480.09
Office Units
1
Amenities
Central air
Central Air Cooling
Parking Lot
Building Details
Year Built
1984
Listing Agency:
GILLELAND REALTY INC
(704) 735-0099
Listed By:
LEE HUSS · License #347394
(704) 530-4418
Source:
Corcoran
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 13 at 6:37AM
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 GILLELAND REALTY INC
Investment Insights
Based on property information with market context.
Suite A201 is an upstairs office unit containing 1,920 square feet within a 1984-built office property. The suite includes 7 designated parking spaces and carries OFC zoning, supporting a range of professional and office uses. An additional office suite is also available for purchase.
The property is located at 4523 Park Road in Charlotte, just south of Uptown and approximately 5 miles from the heart of the city. Its position places it between Uptown, SouthPark, and Montford Drive, with access from the Park Road corridor.
The property is located at 4523 Park Road in Charlotte, just south of Uptown and approximately 5 miles from the heart of the city. Its position places it between Uptown, SouthPark, and Montford Drive, with access from the Park Road corridor.
Key Highlights
- 1,920‑square‑foot upstairs office suite identified as A201
- 7 designated parking spaces included
- OFC zoning supports professional and office uses
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
$29,652
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
4.06%
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%
$593,040
$593.0K
Cap Rate 7%
$423,600
$423.6K
Cap Rate 9%
$329,467
$329.5K
Market Conditions
NOI Build-Up for 1,920 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
$47.9K $24.96/SF
− Vacancy
−$8.4K −$4.37/SF
EGI
$39.5K $20.59/SF
− OpEx
−$9.9K −$5.15/SF
NOI
$29.7K $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%
$593,040
Cap Rate 7%
$423,600
Cap Rate 9%
$329,467
Alternative Uses
Best Use
Office B
$423.6K
$370.7K – $494.2K
NOI $29,652 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$639.4K
$559.4K – $745.9K
NOI $44,755 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,502
Businesses Nearby
Explore this area
Business Placement
Demographics for 28209, NC
24,836
Population
13,410
Households
1.9
Avg Household Size
34
Median Age
70%
College-Educated
97%
High-School Grad
5.5 sq mi
ZIP Area
4,516
Density / Sq Mi
$97,762
Median Household Income
$71,103
Median Earnings
$1,606
Median Rent
$596,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Charlotte, NC
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Frequently Asked Questions
What type of property is this?
Office units - Professional office unit with dedicated parking and OFC zoning near Park Road.
Where is this office units located?
The property is located at 4523 Park Road #A201 Charlotte, NC.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 1,920‑square‑foot upstairs office suite identified as A201; 7 designated parking spaces included; OFC zoning supports professional and office uses
