Commercial Office Suites on
For Sale
$2,600,000
4523 Park Road, Charlotte, NC 28209
Multi-unit office property near Uptown Charlotte with strong potential.
Property Size5,760 SF
Price / SF$451.39
Days on Market238
Property Features for 4523 Park Road
General Information
Standard status
Active
Size
5,760 SF
Property subtype
Commercial
Amenities
Central air
Central Air Cooling
Building Details
Year Built
1984
Listing Agency:
GILLELAND REALTY INC
(704) 735-0099
Listed By:
LEE HUSS · License #347394
Source:
Corcoran
Added: Dec 15, 2025
Changed: Aug 8
Last Checked: Aug 10 at 4:22AM
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.
This multi-unit office property is located just off Park Road in Charlotte, North Carolina, south of Uptown and between Uptown, SouthPark, and Montford Drive. Situated approximately 5 miles from the heart of Charlotte, the property offers accessibility and visibility. The building comprises four office suites: A101A, A101B, A201, and A202, totaling 5,760 square feet. The property includes 23 designated parking spaces. Zoned OFC, the asset is suited for professional and office uses. It is suitable for an owner-occupant or an investor seeking a multi-unit office property. Total acreage reflects the entire parcel per GIS records and is not allocated or divided by individual suites. The property is currently leased through June 30, 2026. HOA dues for 2025 were $1,451.46 per month.
Key Highlights
- Prime Park Road location in a highly desirable area of Charlotte, NC.
- Multi‑unit office property featuring four suites totaling 5,760 square feet.
- Excellent accessibility and visibility, conveniently located only 5 miles from Uptown Charlotte.
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
$88,957
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
3.42%
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%
$1,779,140
$1.8M
Cap Rate 7%
$1,270,814
$1.3M
Cap Rate 9%
$988,411
$988.4K
Market Conditions
NOI Build-Up for 5,760 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
$143.8K $24.96/SF
− Vacancy
−$25.2K −$4.37/SF
EGI
$118.6K $20.59/SF
− OpEx
−$29.7K −$5.15/SF
NOI
$89.0K $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%
$1,779,140
Cap Rate 7%
$1,270,814
Cap Rate 9%
$988,411
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $88,957 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,266 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in Charlotte, NC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Multi-unit office property near Uptown Charlotte with strong potential.
Where is this office units located?
The property is located at 4523 Park Road Charlotte, NC.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Prime Park Road location in a highly desirable area of Charlotte, NC.; Multi‑unit office property featuring four suites totaling 5,760 square feet.; Excellent accessibility and visibility, conveniently located only 5 miles from Uptown Charlotte.
