Commercial Property Near Uptown
For Sale
$459,900
738 Pierson Drive, Charlotte, NC 28205
Commercial property near Uptown Charlotte with flexible-use rooms and ample parking.
Property Size1,556 SF
Price / SF$295.57
Days on Market309
Property Features for 738 Pierson Drive
General Information
Standard status
Active
Size
1,556 SF
Property subtype
Commercial
Amenities
Corner Lot
Carpet Flooring
Natural Gas Heating
Rubber Roof
Building Details
Year Built
1958
Listing Agency:
COLDWELL BANKER- CK SELECT
(704) 788-2255
Listed By:
BRENDA KERNS
(704) 960-9290
Source:
Corcoran
Added: Oct 30, 2025
Changed: Aug 18
Last Checked: Sep 2 at 8:32PM
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 COLDWELL BANKER- CK SELECT
Investment Insights
Based on property information with market context.
This commercial property, previously used as an accounting office, is located near Uptown Charlotte. The building offers excellent visibility and convenience, situated just off Highway 74, in proximity to Walmart and other major retailers. The property features multiple flexible-use rooms suitable for professional offices, medical facilities, or service businesses. It includes 1,556 square feet of space and provides ample parking with 7 dedicated spaces for clients and staff. The location offers high traffic and accessibility, making it suitable for business operations.
Key Highlights
- Prime location near Uptown Charlotte with high visibility and traffic.
- Excellent accessibility just off Highway 74, near major retailers like Walmart.
- Multiple flexible‑use rooms suitable for various professional or service businesses.
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
$24,031
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
5.23%
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%
$480,620
$480.6K
Cap Rate 7%
$343,300
$343.3K
Cap Rate 9%
$267,011
$267.0K
Market Conditions
NOI Build-Up for 1,556 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
$38.8K $24.96/SF
− Vacancy
−$6.8K −$4.37/SF
EGI
$32.0K $20.59/SF
− OpEx
−$8.0K −$5.15/SF
NOI
$24.0K $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%
$480,620
Cap Rate 7%
$343,300
Cap Rate 9%
$267,011
Alternative Uses
Best Use
Office B
$343.3K
$300.4K – $400.5K
NOI $24,031 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$518.2K
$453.4K – $604.5K
NOI $36,271 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 28205, NC
49,600
Population
24,605
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
86%
High-School Grad
11.8 sq mi
ZIP Area
4,203
Density / Sq Mi
$72,479
Median Household Income
$49,340
Median Earnings
$1,376
Median Rent
$410,800
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 units - Commercial property near Uptown Charlotte with flexible-use rooms and ample parking.
Where is this office units located?
The property is located at 738 Pierson Drive Charlotte, NC.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Prime location near Uptown Charlotte with high visibility and traffic.; Excellent accessibility just off Highway 74, near major retailers like Walmart.; Multiple flexible‑use rooms suitable for various professional or service businesses.
