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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10635 Park Rd Charlotte, NC 28210

    • Retail properties
    • 58,483 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Oncology Specialists of Charlotte / Oncologist / Hematologist
    • Tryon Medical Partners - Pineville / Doctor / Medical Office
    • Ma Art & Design / Art Handcraft
    • Simply American Dog Treat Truck / Pet Supply Store
    • Ivy Rehab Physical Therapy / Physical Therapist / Orthopedic Clinic

    Property Details for 10635 Park Rd

    Property size
    58,483 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This Class A, 58,483 square foot medical office and retail building in Charlotte, NC, is undergoing redevelopment, targeting completion in Q4 2023. The property boasts a prime location directly across from Atrium Health’s Pineville medical campus, a 235-bed facility offering 24/7 services. This strategic location offers exceptional visibility and accessibility, situated directly off I-485 (154,000 ADT), Hwy 51/Pineville-Matthews Rd (55,000 ADT), and Park Road (26,000 ADT). The building features multiple tenancy options, with spaces ranging from 1,985 to 9,697 contiguous square feet

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8674
    Latitude
    35.0911

    Comparable in this City

    • Value Estimation by Request
      4,949 SF

      6700 Fairview Rd

      Restaurants • 4,949 SF
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    • Value Estimation by Request
      26,351 SF

      7701 Sharon Lakes Rd

      Medical offices • 26,351 SF
      7701 Sharon Lakes Rd, Charlotte, NC 28210
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    • Value Estimation
      $1,190,000
      72,017 SF

      1717 Sharon W Rd

      MEDICAL BUILDING • 72,017 SF
      1717 Sharon W Rd, Charlotte, NC 28210-5663
      View Details
    • Value Estimation
      $3,360,000
      3,634 SF

      10102 Johnston Rd

      MEDICAL BUILDING • 3,634 SF
      10102 Johnston Rd, Charlotte, NC 28210-8203
      View Details
    • Value Estimation
      $420,000
      14,183 SF

      10520 Park Rd

      MEDICAL BUILDING • 14,183 SF
      10520 Park Rd, Charlotte, NC 28210-8487
      View Details
    • Value Estimation
      $1,020,000
      41,160 SF

      10620 Park Rd

      MEDICAL BUILDING • 41,160 SF
      10620 Park Rd, Charlotte, NC 28210-8472
      View Details

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    Similar Nearby for Lease

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      58,483 SF

      The Plaza at Park 51: Prime Medical Office Space

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      Medical Office Space For Rent

      Two-story medical office building near Atrium Health Pineville.
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    • Contact for pricing
      114,179 SF

      Quail Corners Retail Center

      Charlotte Retail Space Available Now
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      View Details
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    10635 Park Rd
    Charlotte, NC 28210
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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
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