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    7421 Carmel Executive Park Dr Charlotte, NC 28226

    Sponsored
    For Lease
    $288 SF/Yr

    Prime Office Suites in Charlotte, NC

    Lot size:
    25,741 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This single, three-story Class B office building, totaling 25,741 square feet, is situated on 1.38 acres in Charlotte's Highway 51 submarket. Built in 1985, the property offers flexible office space, with a minimum divisible unit of 385 square feet and a maximum contiguous space of 1,962 square feet. Currently, 5,672 square feet are vacant, presenting a significant opportunity for businesses seeking immediate occupancy. The building features 128 parking spaces and is zoned O-1. Its convenient location at 7421 Carmel Executive Park Dr, Charlotte, NC 28226, provides easy access to major roadways including I-485 and I-77, as well as Ballantyne, Fort Mill, and Uptown Charlotte. The property's address is 7421 Carmel Executive Park Dr. This location offers a blend of suburban tranquility and convenient access to key areas. The building's multiple tenancy structure allows for diverse business needs. The property's APN is 211-201-40. This presents a compelling opportunity for businesses seeking efficient, well-located office space in a thriving Charlotte submarket.

    Property Features for 7421 Carmel Executive Park Dr

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    25,741 SF
    Class
    B
    Total Rate
    617784

    Building Details

    Year Built
    1985
    Buildings
    1
    Stories
    3

    Unit(s) available at that property

    Space
    Suite 304
    Size
    328 SF
    Rate per SF
    $288
    Space
    Sute 100
    Size
    3,075 SF
    Rate per SF
    $300
    Space
    Suite 214
    Size
    2,280 SF
    Rate per SF
    $300

    HighLights

    • Multiple buildings offering flexible suite sizes.
    • South Charlotte location with convenient access to residential and retail.
    • Ample parking.
    • Excellent ingress/egress.
    • Prime interstate access.
    • On‑site property management.
    Property Profile Location Intelligence

    Current Use by Public Records

    Buildingstars Commercial Cleaning ... Commercial Cleaning Service Sunshine Credit Services Credit Counseling Service National Amateur Sports Marketing Agency Hunter Hopkins Center Medical Clinic Dr. Laura Black Family Practice Physician

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8444378
    Latitude
    35.0883341

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    FAQs

    What type of property is this?
    Office space - Prime Office Suites in Charlotte, NC
    Where is this office space located?
    The property is located at 7421 Carmel Executive Park Dr Charlotte, NC.
    What is the lease rate?
    The lease rate is $288-$300 SF/Yr.
    What are key features of this property?
    This property features: Multiple buildings offering flexible suite sizes.; South Charlotte location with convenient access to residential and retail.; Ample parking.
    Request Owner's contact information
    7421 Carmel Executive Park Dr Charlotte, NC 28226
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7421 Carmel Executive Park Dr Charlotte, NC 28226
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