Automotive Flex
New
For Sale
$3,000,000
611 Atando Avenue, Charlotte, NC 28206
Existing bay tenants provide rental income alongside automotive service infrastructure.
Property Size12,881 SF
Lot Size0.82 Acres
Price / SF$232.90
Days on Market2
Property Features for 611 Atando Avenue
General Information
Standard status
Active
Size
12,881 SF
Lot size
0.82 Acres
Property subtype
Commercial
Additional Details
Service Bays
4
Amenities
vehicle lifts
paint booth
Building Details
Year Built
1953
Building Size
12,881 SF
Listing Agency:
Elite America Realty LLC
Listed By:
Ahmed Alaoui · License #CAR47023
Source:
Pre4u
Added: Sep 29
Last Checked: Sep 29 at 6:14AM
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 Elite America Realty LLC
Investment Insights
Based on property information with market context.
This 12,881-square-foot flex property occupies 0.82 acres and includes four automotive service bays fitted with vehicle lifts, plus a paint booth. The bays are leased to tenants, generating rental income. Built in 1953, the property has a configuration serving automotive and industrial operations.
At 611 Atando Avenue in Charlotte, the site is near major roads and surrounding commercial areas.
At 611 Atando Avenue in Charlotte, the site is near major roads and surrounding commercial areas.
Key Highlights
- 12,881 square feet on 0.82 acres
- Four leased automotive service bays equipped with vehicle lifts
- One paint booth
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
$215,667
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
7.19%
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%
$4,313,340
$4.3M
Cap Rate 7%
$3,080,957
$3.1M
Cap Rate 9%
$2,396,300
$2.4M
Market Conditions
NOI Build-Up for 12,881 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
$316.9K $24.60/SF
− Vacancy
−$8.8K −$0.68/SF
EGI
$308.1K $23.92/SF
− OpEx
−$92.4K −$7.18/SF
NOI
$215.7K $16.74/SF
Area
Charlotte, NC
Vacancy
2.77%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
30.00%
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%
$4,313,340
Cap Rate 7%
$3,080,957
Cap Rate 9%
$2,396,300
Alternative Uses
Best Use
Retail
$3.08M
$2.70M – $3.59M
NOI $215,667 @ 7.0% cap · market cap 7.19%
Second Best
Flex RnD
$2.00M
$1.75M – $2.34M
NOI $140,158 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$4.29M
$3.75M – $5.00M
NOI $300,258 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Service bays
Location Intelligence
Trade Area within ½ mile
721
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28206, NC
14,053
Population
7,094
Households
2
Avg Household Size
33
Median Age
32%
College-Educated
83%
High-School Grad
7.0 sq mi
ZIP Area
2,008
Density / Sq Mi
$51,456
Median Household Income
$42,186
Median Earnings
$1,225
Median Rent
$239,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Charlotte, NC
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Frequently Asked Questions
What type of property is this?
Flex space - Existing bay tenants provide rental income alongside automotive service infrastructure.
Where is this flex space located?
The property is located at 611 Atando Avenue Charlotte, NC.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 12,881 square feet on 0.82 acres; Four leased automotive service bays equipped with vehicle lifts; One paint booth
