Flex and Warehouse
For Sale
Contact for pricing
5636 North Tryon Street, Charlotte, NC 28213
For-sale flex and warehouse property offered on a TOD-TR designated site.
Property Size1,647 SF
Lot Size0.44 Acres
Price / SF$379.48
Days on Market96
Property Features for 5636 North Tryon Street
General Information
Standard status
Active
Size
1,647 SF
Lot size
0.44 Acres
Property subtype
Retail, Multifamily, Industrial
Zoning
TOD-TR
Investment Type
Redevelopment
Building Details
Year Built
1958
Buildings
1
Listing Agency:
Legacy Real Estate Advisors
Listed By:
Andrew Pace · License #341226
Source:
Crexi
Added: Jun 2
Changed: Sep 2
Last Checked: Sep 1 at 4:24AM
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 Legacy Real Estate Advisors
Investment Insights
Based on property information with market context.
This for-sale flex and warehouse property is offered as a compact commercial asset of 1,647 square feet on a 0.44-acre site. The property is positioned for versatile occupancy consistent with its flex/warehouse classification, supported by a TOD-TR designation noted in the public remarks.
The property is located at 5636 North Tryon Street in Charlotte, NC. The listing includes a land area of 0.44 acres and identifies the site’s zoning designation as TOD-TR, which can be a key consideration for potential occupants and redevelopment planning.
Because the asset is identified as flex space and warehouse space, it may fit tenants seeking a property that supports practical back-of-house and light distribution needs alongside more flexible operational requirements. Prospective buyers and operators can review the existing building layout and zoning designation (TOD-TR) as part of evaluating whether the site aligns with their intended use strategy. For sale at $695,000, it presents a straightforward, small-format option for interested users and investors looking at compact flex/warehouse real estate in Charlotte.
The property is located at 5636 North Tryon Street in Charlotte, NC. The listing includes a land area of 0.44 acres and identifies the site’s zoning designation as TOD-TR, which can be a key consideration for potential occupants and redevelopment planning.
Because the asset is identified as flex space and warehouse space, it may fit tenants seeking a property that supports practical back-of-house and light distribution needs alongside more flexible operational requirements. Prospective buyers and operators can review the existing building layout and zoning designation (TOD-TR) as part of evaluating whether the site aligns with their intended use strategy. For sale at $695,000, it presents a straightforward, small-format option for interested users and investors looking at compact flex/warehouse real estate in Charlotte.
Key Highlights
- Flex and warehouse property for sale
- 0.44‑acre lot
- Year built: 1958
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
$20,420
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
3.27%
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%
$408,400
$408.4K
Cap Rate 7%
$291,714
$291.7K
Cap Rate 9%
$226,889
$226.9K
Market Conditions
NOI Build-Up for 1,647 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
$25.7K $15.60/SF
− Vacancy
−$1.7K −$1.01/SF
EGI
$24.0K $14.59/SF
− OpEx
−$3.6K −$2.19/SF
NOI
$20.4K $12.40/SF
Area
Charlotte, NC
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
15.00%
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%
$408,400
Cap Rate 7%
$291,714
Cap Rate 9%
$226,889
Alternative Uses
Best Use
Warehouse
$291.7K
$255.3K – $340.3K
NOI $20,420 @ 7.0% cap · market cap 3.27%
Second Best
Flex RnD
$256.0K
$224.0K – $298.7K
NOI $17,921 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$548.5K
$479.9K – $639.9K
NOI $38,392 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28213, NC
47,215
Population
20,484
Households
2.3
Avg Household Size
31
Median Age
34%
College-Educated
86%
High-School Grad
14.2 sq mi
ZIP Area
3,325
Density / Sq Mi
$55,612
Median Household Income
$39,704
Median Earnings
$1,341
Median Rent
$251,700
Median Home Value
Market
Vacancy Rate% for Industrial in Charlotte, NC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - For-sale flex and warehouse property offered on a TOD-TR designated site.
Where is this flex space located?
The property is located at 5636 North Tryon Street Charlotte, NC.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Flex and warehouse property for sale; 0.44‑acre lot; Year built: 1958
