Office Unit with Dedicated
For Sale
$730,000
A201-4523 Park Road, Charlotte, NC 28209
Upstairs professional office suite with designated parking and OFC zoning near Charlotte’s central business corridors.
Property Size1,920 SF
Price / SF$380.21
Days on Market9
Property Features for A201-4523 Park Road
General Information
Standard status
Active
Size
1,920 SF
Total Parking Spaces
7
Zoning
OFC
Additional Details
Floor
Upstairs
HOA Fee
$480.09
Office Units
1
Listing Agency:
Gilleland Realty Inc
(704) 735-0099
Listed By:
Lee Huss · License #347394
(704) 530-4418
Source:
Exprealty
Added: Sep 9
Changed: Sep 16
Last Checked: Sep 16 at 3:05PM
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 Gilleland Realty Inc
Investment Insights
Based on property information with market context.
Suite A201 is an upstairs office unit containing 1,920 square feet and seven designated parking spaces. The property is zoned OFC, supporting professional and office-oriented use, and offers a defined commercial suite within a multi-suite building.
Located at 4523 Park Road in Charlotte, the property sits south of Uptown and between Uptown, SouthPark, and Montford Drive. The suite is approximately 5 miles from the heart of Charlotte, with access to Park Road and surrounding business areas.
Located at 4523 Park Road in Charlotte, the property sits south of Uptown and between Uptown, SouthPark, and Montford Drive. The suite is approximately 5 miles from the heart of Charlotte, with access to Park Road and surrounding business areas.
Key Highlights
- 1,920‑square‑foot upstairs office suite identified as A201
- Seven designated parking spaces included
- OFC zoning supports professional and office‑oriented use
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
$29,652
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
4.06%
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%
$593,040
$593.0K
Cap Rate 7%
$423,600
$423.6K
Cap Rate 9%
$329,467
$329.5K
Market Conditions
NOI Build-Up for 1,920 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
$47.9K $24.96/SF
− Vacancy
−$8.4K −$4.37/SF
EGI
$39.5K $20.59/SF
− OpEx
−$9.9K −$5.15/SF
NOI
$29.7K $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%
$593,040
Cap Rate 7%
$423,600
Cap Rate 9%
$329,467
Alternative Uses
Best Use
Office B
$423.6K
$370.7K – $494.2K
NOI $29,652 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$639.4K
$559.4K – $745.9K
NOI $44,755 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 28209, NC
24,836
Population
13,410
Households
1.9
Avg Household Size
34
Median Age
70%
College-Educated
97%
High-School Grad
5.5 sq mi
ZIP Area
4,516
Density / Sq Mi
$97,762
Median Household Income
$71,103
Median Earnings
$1,606
Median Rent
$596,000
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 - Upstairs professional office suite with designated parking and OFC zoning near Charlotte’s central business corridors.
Where is this office units located?
The property is located at A201-4523 Park Road Charlotte, NC.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 1,920‑square‑foot upstairs office suite identified as A201; Seven designated parking spaces included; OFC zoning supports professional and office‑oriented use
