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    Property profile & analytics

    1850 E 3Rd St Charlotte, NC 28204

    • Office buildings
    • 20,410 SF
    • 1.42 lot acres
    For Lease
    View listing
    $545 /Mo
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1180955
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Walker & Wurst CPA PA / Accountant
    • Ms. Connie Hayes / Counselor
    • Investment Properties / Commercial Real Estate Agency
    • Charlotte Website Designs / Internet Marketing Service / Marketing Agency
    • Bertolina Commercial Real Estate / Commercial Real Estate Agency

    Property Details for 1850 E 3Rd St

    Year built
    1964
    Lot size
    1.42 lot acres
    Property size
    20,410 SF
    Zone code
    O-2
    Property type
    Office buildings
    APN
    15501411
    APU
    15501411

    Description

    Providence Center offers a premier executive office suite in Charlotte, NC. This meticulously maintained building, located at 1850 E. Third Street, boasts a total of 3,710 square feet across one suite, with 233 square feet currently available for lease. The property sits on a 0.385-acre lot and provides convenient access to major thoroughfares, including I-77 and I-85, placing it within minutes of Uptown Charlotte. The building features multiple offices, conference rooms, and reception areas, offering flexibility for various business needs. Some suites have the potential for combination to accommodate expanding businesses. The strategic location near Novant Health Presbyterian Hospital, at the corner of South Caswell Road and East 3rd Street, ensures high visibility and accessibility. Tenants benefit from ample parking with 18 spaces available, and an automated building entry system provides secure after-hours access. This property is ideally suited for boutique firms seeking a professional and convenient workspace in a central location. The property is in Mecklenburg County and has a zip code of 28204.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,605,000
      6.5%
      $5,175,000
      7%
      $4,805,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,801,000
      Market price range: $2.14M - $6.46M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $8,225,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8266
    Latitude
    35.2098
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $47,459
    $5,776,800
    $693,400
    $6,470,200
    -
    $5,776,800
    $693,400
    $6,470,200

    Comparable in this City

    • Value Estimation by Request
      0.24 Acres

      1811 5th St

      OFFICE BUILDING • 0.24 Acres
      1811 5th St, Charlotte, NC 28204
      View Details
    • Value Estimation
      $7,215,000
      23,542 SF

      1901 5th St

      OFFICE BUILDING • 23,542 SF
      1901 5th St, Charlotte, NC 28204-2429
      View Details
    • Value Estimation
      $2,285,000
      9,515 SF

      1445 7th St

      OFFICE BUILDING • 9,515 SF
      1445 7th St, Charlotte, NC 28204-2407
      View Details
    • Value Estimation
      $4,125,000
      13,141 SF

      1410 7th St

      OFFICE BUILDING • 13,141 SF
      1410 7th St, Charlotte, NC 28204-2408
      View Details
    • Value Estimation
      $1,545,000
      5,452 SF

      1508 4th St

      OFFICE BUILDING • 5,452 SF
      1508 4th St, Charlotte, NC 28204-3224
      View Details
    • Value Estimation
      $2,325,000
      12,300 SF

      320 Lillington Ave

      OFFICE BUILDING • 12,300 SF
      320 Lillington Ave, Charlotte, NC 28204-3188
      View Details

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    Similar Nearby for Lease

    • $545 /Mo
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      Office Suites Near Uptown Charlotte

      Centrally located office suites near hospitals and major routes.
      1850 E 3Rd St, Charlotte, NC 28204
      View Details
    • $49 SF/Yr
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      Midtown Medical Office Space For Lease

      2,240 SF Medical Office - Short Term Lease
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    • $26 SF/Yr
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      Sugar Mill: Plaza Midwood Spaces

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    Charlotte, NC 28204
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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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