Professional Office Suite Near
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4728 Park Road Suite D, Charlotte, NC 28209
Multi-tenant office complex in desirable Park Road/SouthPark corridor.
Property Size1,098 SF
Price / SF$380.69
Days on Market141
Property Features for 4728 Park Road Suite D
General Information
Standard status
Active
Size
1,098 SF
Class
B
Property subtype
Office
Zoning
Office
Investment Type
Owner/User
Building Details
Year Built
1985
Buildings
1
Stories
2
Units
1
Listing Agency:
Coldwell Banker Commercial Realty
Listed By:
Ryan Pilsy · License #NC
Source:
Crexi
Added: Mar 23
Changed: Aug 8
Last Checked: Aug 10 at 11:46AM
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 Coldwell Banker Commercial Realty
Investment Insights
Based on property information with market context.
Located in Charlotte’s Park Road / SouthPark corridor, 4728 Park Rd, Suite D is part of a multi-tenant professional office complex. The property benefits from its proximity to Park Road Shopping Center, which includes restaurants, coffee shops, retail stores, and everyday services. A nearby greenway offers opportunities for walking and outdoor activities. The 1098 square foot suite is designed for client-facing operations, featuring a reception/waiting area, multiple private offices or meeting rooms, a break room, and a flexible space. This layout is suitable for client-focused professional services such as mediation, therapy, counseling, and legal consultation, as well as appointment-based professionals like financial advisors, business or career coaches, and tax professionals. It is also suitable for low-equipment wellness services, including nutritionists, speech therapists, and wellness practitioners.
Key Highlights
- Prime location in the highly desirable Park Road / SouthPark corridor.
- Convenient access to Park Road Shopping Center's diverse amenities.
- Thoughtfully designed layout ideal for client‑facing professional services.
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
$16,958
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%
$339,160
$339.2K
Cap Rate 7%
$242,257
$242.3K
Cap Rate 9%
$188,422
$188.4K
Market Conditions
NOI Build-Up for 1,098 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
$27.4K $24.96/SF
− Vacancy
−$4.8K −$4.37/SF
EGI
$22.6K $20.59/SF
− OpEx
−$5.7K −$5.15/SF
NOI
$17.0K $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%
$339,160
Cap Rate 7%
$242,257
Cap Rate 9%
$188,422
Alternative Uses
Best Use
Office B
$242.3K
$212.0K – $282.6K
NOI $16,958 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.6K
$319.9K – $426.6K
NOI $25,595 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,543
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-tenant office complex in desirable Park Road/SouthPark corridor.
Where is this office units located?
The property is located at 4728 Park Road Suite D Charlotte, NC.
What is the asking price?
The asking price for this property is $418,000.
What are key features of this property?
This property features: Prime location in the highly desirable Park Road / SouthPark corridor.; Convenient access to Park Road Shopping Center's diverse amenities.; Thoughtfully designed layout ideal for client‑facing professional services.
