Renovated Executive Suite
5509 Monroe Road, Charlotte, NC 28212
For Sale
New
$950,000
The building is configured for executive-suite occupancy, with leases of 12 months or less.
Property Size2,778 SF
Price / SF$341.97
Days on Market6
Property Features for 5509 Monroe Road
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Condition
Property Use
Amenities
Central air
Bath Grab Bars
Carpet Flooring
Central Air Cooling
Door Width 32 Inches or More
Entry Slope less than 1 foot
Forced Air Heating
Handicap Parking
Linoleum Flooring
Natural Gas Heating
Parking Lot
Paved
Tile Flooring
Building Details
Year Built
Listing Agency:
TAKE FLIGHT PROPERTIES
(704) 763-2051
Listed By:
HENRY BLANTON
Source:
Corcoran
Added: Nov 3
Changed: Nov 6
Last Checked: Nov 6 at 8:51AM
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 TAKE FLIGHT PROPERTIES
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Investment Insights
Based on property information with market context.
This 2,778-square-foot office building dates to 1979 and is currently arranged for executive-suite use. Improvements include a replacement roof and James Hardie siding, each with a warranty, along with an encapsulated crawl space and refreshed restrooms. Existing leases run for no more than 12 months.
Key Highlights
- 2,778‑square‑foot office building built in 1979
- Currently used for executive suites
- Leases are 12 months or less
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,903
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$858,060
$858.1K
Cap Rate 7%
$612,900
$612.9K
Cap Rate 9%
$476,700
$476.7K
Market Conditions
NOI Build-Up for 2,778 SF
Gross rent
$69.3K $24.96/SF
− Vacancy
−$12.1K −$4.37/SF
EGI
$57.2K $20.59/SF
− OpEx
−$14.3K −$5.15/SF
NOI
$42.9K $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 Rate 5%
$858,060
Cap Rate 7%
$612,900
Cap Rate 9%
$476,700
Alternative Uses
Best Use
Office B
$612.9K
$536.3K – $715.1K
NOI $42,903 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$925.1K
$809.5K – $1.08M
NOI $64,756 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
866
Businesses Nearby
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Business Placement
Demographics for 28212, NC
41,009
Population
17,417
Households
2.4
Avg Household Size
33
Median Age
24%
College-Educated
78%
High-School Grad
9.2 sq mi
ZIP Area
4,458
Density / Sq Mi
$51,530
Median Household Income
$35,596
Median Earnings
$1,274
Median Rent
$236,300
Median Home Value
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Market
Properties on Market for Office buildings in Charlotte
Vacancy Rate% for Office in Charlotte, NC
Frequently Asked Questions
What type of property is this?
Office building - The building is configured for executive-suite occupancy, with leases of 12 months or less.
Where is this office building located?
The property is located at 5509 Monroe Road Charlotte, NC.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,778‑square‑foot office building built in 1979; Currently used for executive suites; Leases are 12 months or less
