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    3440 Toringdon Way Charlotte, NC 28277

    Sponsored
    For Lease
    $22 SF/Yr

    Prestigious Charlotte office suites, flexible options.

    Lot size:
    11,933 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This Class A, 11,933 square foot office building, renovated in 2019, offers a diverse range of executive office, coworking, and creative office spaces in the desirable Toringdon Way location. Situated within a 160-acre office park, this Mecklenburg County property boasts stunning interiors featuring limestone and granite floors, coffered ceilings, and abundant natural light. The building includes 350 suites, with 5,970 square feet currently vacant, offering flexible options from 10 square feet minimum to a maximum contiguous space of 1,300 square feet. Amenities include elevators and convenient access, located just 30 minutes from Charlotte International Airport. The available spaces cater to various needs, ranging from fully furnished private offices for individuals or large companies to customized solutions, disaster recovery spaces, and day offices. A comprehensive benefits program, including exclusive discounts and procurement support, is also available to tenants. This exceptional property provides an ideal setting for businesses seeking a prestigious and functional workspace in a prime Charlotte location. The building's modern design and convenient location make it an attractive option for companies of all sizes.

    Property Features for 3440 Toringdon Way

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    11,933 SF
    Class
    A
    Total Rate
    22195.38

    Building Details

    Year Renovated
    2019

    Unit(s) available at that property

    Space
    Virtual office
    Size
    54 SF
    Rate per SF
    $134
    Space
    Flexible coworking membership
    Size
    108 SF
    Rate per SF
    $22
    Space
    Flexible office membership
    Size
    108 SF
    Rate per SF
    $27
    Space
    Coworking space
    Size
    328 SF
    Rate per SF
    $36
    Space
    Private office for 1 person
    Size
    538 SF
    Rate per SF
    $110
    Space
    Private office for 2 people
    Size
    538 SF
    Rate per SF
    $98
    Space
    Private office for 3 people
    Size
    646 SF
    Rate per SF
    $80
    Space
    Private office for 4 people
    Size
    646 SF
    Rate per SF
    $87
    Space
    Private office for 5 people
    Size
    807 SF
    Rate per SF
    $173
    Space
    Open plan office space for + 10 people
    Size
    1,184 SF
    Rate per SF
    $115
    Space
    Open plan office space for + 15 people
    Size
    1,292 SF
    Rate per SF
    $51

    HighLights

    • Class A, 11,933 square foot office building renovated in 2019.
    • 5,970 square feet of vacant space available in a 350‑suite building, with options ranging from 10 to 1,300 contiguous square feet.
    • Amenities include elevators and convenient access, located 30 minutes from Charlotte International Airport.
    • Offers private furnished offices, coworking spaces, meeting rooms, and virtual office solutions.
    • Tenant benefits program includes exclusive discounts and procurement support.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ballantyne Irrigation Repair Lawn Sprinkler System Contractor Jennifer Taylor Woods ... Real Estate Agent Law.4Veterans.com. Joseph M. ... Veterans Organization Ashton Integrative Health, ... Psychologist Sparkhead Studios Website Designer

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8413252
    Latitude
    35.0679586

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    FAQs

    What type of property is this?
    Office space - Prestigious Charlotte office suites, flexible options.
    Where is this office space located?
    The property is located at 3440 Toringdon Way Charlotte, NC.
    What is the lease rate?
    The lease rate is $22-$173 SF/Yr.
    What are key features of this property?
    This property features: Class A, 11,933 square foot office building renovated in 2019.; 5,970 square feet of vacant space available in a 350-suite building, with options ranging from 10 to 1,300 contiguous square feet.; Amenities include elevators and convenient access, located 30 minutes from Charlotte International Airport.
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    3440 Toringdon Way Charlotte, NC 28277
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    Charlotte, NC 28277
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    3440 Toringdon Way Charlotte, NC 28277
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