Office
For Sale
$1,150,000
5511 Monroe Rd, Charlotte, NC 28212
Ownership includes parking, green space, access drives, utility areas, and a dumpster enclosure.
Property Size3,536 SF
Price / SF$325.23
Days on Market26
Property Features for 5511 Monroe Rd
General Information
Standard status
Active
Size
3,536 SF
Building Details
Year Built
1981
Listing Agency:
Take Flight Properties
(704) 763-2051
Listed By:
Henry Blanton
Source:
Highperformancerea
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 28 at 12:59PM
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
Investment Insights
Based on property information with market context.
This office building, constructed in 1981, includes ownership interests extending beyond the structure to shared site areas. Those areas include parking lots, landscaped green space, the entry drive, a dumpster enclosure, and utilities.
The property is located at 5511 Monroe Rd in Charlotte, North Carolina, within ZIP Code 28212.
The property is located at 5511 Monroe Rd in Charlotte, North Carolina, within ZIP Code 28212.
Key Highlights
- Office building constructed in 1981
- Ownership includes parking lots and green space
- Entry drive and utility areas are included in the ownership interest
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
$54,610
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
4.75%
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%
$1,092,200
$1.1M
Cap Rate 7%
$780,143
$780.1K
Cap Rate 9%
$606,778
$606.8K
Market Conditions
NOI Build-Up for 3,536 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
$88.3K $24.96/SF
− Vacancy
−$15.4K −$4.37/SF
EGI
$72.8K $20.59/SF
− OpEx
−$18.2K −$5.15/SF
NOI
$54.6K $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%
$1,092,200
Cap Rate 7%
$780,143
Cap Rate 9%
$606,778
Alternative Uses
Best Use
Office B
$780.1K
$682.6K – $910.2K
NOI $54,610 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,425 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
866
Businesses Nearby
Explore this area
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
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 building - Ownership includes parking, green space, access drives, utility areas, and a dumpster enclosure.
Where is this office building located?
The property is located at 5511 Monroe Rd Charlotte, NC.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Office building constructed in 1981; Ownership includes parking lots and green space; Entry drive and utility areas are included in the ownership interest
