Turnkey Townhome
For Sale
Contact for pricing
5306-5320 Park Rd, Charlotte, NC 28209
Fee-simple eight-townhome community with in-unit laundry and rear patios, with renovations underway in 2026.
Property Size8,576 SF
Price / SF$313.67
Days on Market58
Property Features for 5306-5320 Park Rd
General Information
Standard status
Active
Size
8,576 SF
Class
A
Property subtype
Multifamily
Zoning
N2-B
Investment Type
Stabilized
Additional Details
Business Included
Yes
Multifamily Units
8
Building Details
Year Built
2011
Year Renovated
2026
Buildings
1
Units
8
Tenancy
Multi
Listing Agency:
Britt Commercial Real Estate
Listed By:
Zachary Britt · License #NC 315119
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Aug 10 at 1:09PM
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 Britt Commercial Real Estate
Investment Insights
Based on property information with market context.
Vista Park Townhomes is an eight-unit townhome community offered for sale in fee simple. The property is described as turnkey, combining newer-construction quality with upgrades to the residences. According to the provided remarks, seven of the eight units are fully renovated in 2026 and will feature modern finishes, rear patios, and in-unit laundry.
The community is located at 5306–5320 Park Rd in Charlotte, North Carolina 28209. This offering is positioned as a townhome investment with an ownership structure intended for long-term hold, rather than a limited-interest arrangement.
For buyers seeking a manageable, fee-simple multifamily ownership structure, the unit mix and in-home amenities highlighted in the remarks may support a range of residential tenant needs. With the majority of units slated for full renovation in 2026, the property may appeal to operators looking for a relatively current interior package across most homes, while maintaining the practical layout and features already identified, including rear patios and in-unit laundry.
The community is located at 5306–5320 Park Rd in Charlotte, North Carolina 28209. This offering is positioned as a townhome investment with an ownership structure intended for long-term hold, rather than a limited-interest arrangement.
For buyers seeking a manageable, fee-simple multifamily ownership structure, the unit mix and in-home amenities highlighted in the remarks may support a range of residential tenant needs. With the majority of units slated for full renovation in 2026, the property may appeal to operators looking for a relatively current interior package across most homes, while maintaining the practical layout and features already identified, including rear patios and in-unit laundry.
Key Highlights
- Fee‑simple eight‑unit townhome community
- Year built: 2011
- Seven of eight units are fully renovated in 2026
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
$103,768
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
3.86%
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%
$2,075,360
$2.1M
Cap Rate 7%
$1,482,400
$1.5M
Cap Rate 9%
$1,152,978
$1.2M
Market Conditions
NOI Build-Up for 8,576 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
$199.6K $23.28/SF
− Vacancy
−$11.0K −$1.28/SF
EGI
$188.7K $22.00/SF
− OpEx
−$84.9K −$9.90/SF
NOI
$103.8K $12.10/SF
Area
Charlotte, NC
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$2,075,360
Cap Rate 7%
$1,482,400
Cap Rate 9%
$1,152,978
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,768 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.86M
$2.50M – $3.33M
NOI $199,908 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
855
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fee-simple eight-townhome community with in-unit laundry and rear patios, with renovations underway in 2026.
Where is this apartment building located?
The property is located at 5306-5320 Park Rd Charlotte, NC.
What is the asking price?
The asking price for this property is $2,690,000.
What are key features of this property?
This property features: Fee‑simple eight‑unit townhome community; Year built: 2011; Seven of eight units are fully renovated in 2026
