Renovated Retail/Office
For Sale
Contact for pricing
6161 East Independence Boulevard, Charlotte, NC 28212
Renovated in 2021 with flexible retail-ready interiors, private offices, and dedicated parking on a heavily traveled corridor.
Property Size3,850 SF
Price / SF$298.70
Days on Market51
Property Features for 6161 East Independence Boulevard
General Information
Standard status
Active
Size
3,850 SF
Class
B
Total Parking Spaces
14
Property subtype
Retail
Zoning
CG General Commercial
Additional Details
Traffic Count
50,000 vehicles/day
Office Units
11
Building Details
Year Built
1963
Year Renovated
2021
Listing Agency:
Queen City Commercial LLC
(704) 503-9608
Listed By:
Shawn George · License #274896
Source:
Crexi
Added: Jun 22
Changed: Aug 10
Last Checked: Aug 9 at 12:31PM
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 Queen City Commercial LLC
Investment Insights
Based on property information with market context.
This renovated retail/office building offers a blend of professional and customer-facing space in a single address. Completed upgrades in 2021 include a new roof, new flooring, plumbing enhancements, updated paint, and a modern security system. The interior is configured with eleven private offices, a conference room, and a reception area, with interior walls that can be removed to support an open retail floor plan for adaptable use.
Located along East Independence Boulevard in Charlotte, the property benefits from high-profile corridor visibility, with exposure to more than 50,000 vehicles per day. The site includes 13 dedicated parking spaces, with overflow options available for peak periods. The building falls under General Commercial (CG) zoning, supporting multiple business uses within the existing configuration.
For tenants or buyers seeking an owner-user or operating space, the layout supports both service-based and retail-oriented functions, with private offices and a reception area that can serve client traffic. The ability to convert interior walls into a more open plan provides additional flexibility for changing operational needs, while the recent improvements help reduce near-term capital concerns. Dedicated parking and strong corridor exposure further support everyday accessibility for staff and visitors.
Located along East Independence Boulevard in Charlotte, the property benefits from high-profile corridor visibility, with exposure to more than 50,000 vehicles per day. The site includes 13 dedicated parking spaces, with overflow options available for peak periods. The building falls under General Commercial (CG) zoning, supporting multiple business uses within the existing configuration.
For tenants or buyers seeking an owner-user or operating space, the layout supports both service-based and retail-oriented functions, with private offices and a reception area that can serve client traffic. The ability to convert interior walls into a more open plan provides additional flexibility for changing operational needs, while the recent improvements help reduce near-term capital concerns. Dedicated parking and strong corridor exposure further support everyday accessibility for staff and visitors.
Key Highlights
- 3,850 SF retail/office building built in 1963 on a high‑traffic segment of East Independence Boulevard
- Renovated in 2021 with upgrades including a new roof, new flooring, plumbing enhancements, updated paint, and a modern security system
- Interior layout includes eleven private offices plus a conference room and reception area
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
$64,461
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
5.61%
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%
$1,289,220
$1.3M
Cap Rate 7%
$920,871
$920.9K
Cap Rate 9%
$716,233
$716.2K
Market Conditions
NOI Build-Up for 3,850 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
$94.7K $24.60/SF
− Vacancy
−$2.6K −$0.68/SF
EGI
$92.1K $23.92/SF
− OpEx
−$27.6K −$7.18/SF
NOI
$64.5K $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%
$1,289,220
Cap Rate 7%
$920,871
Cap Rate 9%
$716,233
Alternative Uses
Best Use
Retail
$920.9K
$805.8K – $1.07M
NOI $64,461 @ 7.0% cap · market cap 5.61%
Second Best
Office B
$849.4K
$743.2K – $991.0K
NOI $59,459 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,744 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Office units
50,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
463
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 - Renovated in 2021 with flexible retail-ready interiors, private offices, and dedicated parking on a heavily traveled corridor.
Where is this office building located?
The property is located at 6161 East Independence Boulevard 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: 3,850 SF retail/office building built in 1963 on a high‑traffic segment of East Independence Boulevard; Renovated in 2021 with upgrades including a new roof, new flooring, plumbing enhancements, updated paint, and a modern security system; Interior layout includes eleven private offices plus a conference room and reception area
