Charlotte Office Building For
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3726 Latrobe Drive, Charlotte, NC 28211
Office building with 22,185 square feet available for sale.
Property Size22,185 SF
Price / SF$247.92
Days on Market1433
Property Features for 3726 Latrobe Drive
General Information
Standard status
Active
Size
22,185 SF
Class
B
Property subtype
Office
Zoning
ML-1 (Manufacturing & Logistics)
Investment Type
Sale/Leaseback
Net Operating Income
$336,000
Building Details
Year Built
1980
Year Renovated
2015
Stories
1
Listing Agency:
Bertolina Commercial Real Estate Services Inc
Listed By:
Ian Bertolina · License #NC 129379
(704) 333-9881
Source:
Crexi
Added: Oct 2, 2022
Changed: Aug 16
Last Checked: Sep 1 at 10:10PM
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 Bertolina Commercial Real Estate Services Inc
Investment Insights
Based on property information with market context.
This commercial real estate offering features an office building with a total size of 22,185 square feet. The property is available for sale.
Key Highlights
- YearBuilt: 1980
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
$342,625
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
6.23%
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%
$6,852,500
$6.9M
Cap Rate 7%
$4,894,643
$4.9M
Cap Rate 9%
$3,806,944
$3.8M
Market Conditions
NOI Build-Up for 22,185 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
$553.7K $24.96/SF
− Vacancy
−$96.9K −$4.37/SF
EGI
$456.8K $20.59/SF
− OpEx
−$114.2K −$5.15/SF
NOI
$342.6K $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%
$6,852,500
Cap Rate 7%
$4,894,643
Cap Rate 9%
$3,806,944
Alternative Uses
Best Use
Office B
$4.89M
$4.28M – $5.71M
NOI $342,625 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.39M
$6.46M – $8.62M
NOI $517,136 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,835
Businesses Nearby
Explore this area
Business Placement
Demographics for 28211, NC
31,917
Population
15,061
Households
2.1
Avg Household Size
39
Median Age
69%
College-Educated
96%
High-School Grad
11.0 sq mi
ZIP Area
2,902
Density / Sq Mi
$130,221
Median Household Income
$66,412
Median Earnings
$1,660
Median Rent
$701,900
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 - Office building with 22,185 square feet available for sale.
Where is this office building located?
The property is located at 3726 Latrobe Drive Charlotte, NC.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: YearBuilt: 1980
