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    19725 Oak St Cornelius, NC 28031

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    19725 Oak St Cornelius, NC 28031

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    • Retail space
    • 41,128 SF
    • 3.59 lot acres
    For Lease
    View Listing →
    Historic Mill Space in Cornelius For Lease
    Contact for pricing
    11,000 SF

    Historic Mill Space in Cornelius

    Unique retail and office spaces in Old Town Cornelius.

    19725 Oak St, Cornelius, NC
    View Listing
    Property ID
    US53-1166458
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lake Norman Tai Chi Center / Alternative Medicine Practice / Spiritual Center
    • Huntersville Lutheran Church / Church
    • Modern day vintage at oak street mill antiques / Furniture & Home Goods / Home Decor Store
    • Sips LKN / Take-out & Catering / Catering Service
    • Spark Studio / Training Center

    Property Details for 19725 Oak St

    Year built
    1920
    Lot size
    3.59 lot acres
    Property size
    41,128 SF
    Zone code
    TC
    Property type
    Retail space
    APN
    521210
    APU
    521210

    Description

    This stunning, renovated Class A property, located in the heart of Cornelius, NC, offers exceptional office and retail space within a historic mill building. The Oak Street Mill Renovation boasts approximately 41,000 square feet across two stories, situated on a 4.74-acre lot. Currently, 11,000 square feet of space is available for lease, divisible into units as small as 1,500 square feet and up to a contiguous 11,000 square feet. Ideal for a variety of uses, including executive office suites, storefront retail, salons, or shop spaces, this property is perfectly suited for businesses seeking a unique and prestigious location. Built in 1920 and meticulously renovated for delivery in 2024, the building benefits from a C700 zoning designation. This prime location in the Mecklenburg County submarket, specifically the NC - Charlotte Northeast / I-77 area, is experiencing significant growth, with over 750 multifamily units planned nearby, ensuring a vibrant and expanding customer base. The property's historic charm combined with modern amenities makes it an unparalleled opportunity for businesses seeking a high-profile address in a thriving community. This is a rare chance to secure space in a landmark building within a rapidly developing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cornelius
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8599
    Latitude
    35.4807
    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
    $23,564
    $2,539,500
    $1,107,000
    $3,646,500
    -
    $2,539,500
    $1,107,000
    $3,646,500

    Comparable in this City

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      44,634 SF

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    • Value Estimation
      $3,150,000
      19,442 SF

      20634 Main St

      RETAIL STORES (PERSONAL SERVICES) • 19,442 SF
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    • Value Estimation
      $1,935,000
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      20826 Torrence Chapel Rd

      RETAIL STORES (PERSONAL SERVICES) • 15,565 SF
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    • Value Estimation by Request
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      21304 Catawba Ave

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    • Value Estimation by Request
      1,288 SF

      21310 Catawba Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,288 SF
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      View Details
    • Value Estimation by Request
      1,588 SF

      21106 Catawba Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,588 SF
      21106 Catawba Ave, Cornelius, NC 28031-8503
      View Details

    Similar Nearby for Sale

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      1,632 SF

      Downtown Cornelius Retail Opportunity

      Retail building in downtown Cornelius with high foot traffic.
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      View Details
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    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Downtown Cornelius Retail/Restaurant Space

      Historic building in arts district, ideal for restaurant or retail.
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      View Details
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      Retail Space in Downtown Cornelius

      Retail space available in downtown Cornelius, delivering summer 2024.
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      16,000 SF

      Historic Mill Space in Cornelius

      Unique retail and office spaces in Old Town Cornelius.
      19725 Oak St, Cornelius, NC 28031
      View Details
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      Retail and Office Space Available

      Prime retail and office spaces for lease in Lake Norman.
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      Retail or restaurant space in downtown Cornelius' Arts District.
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    • Contact for pricing

      Retail Space Available For Lease

      Retail space for lease in Cornelius, North Carolina.
      19725 Oak St, Cornelius, NC 28031
      View Details
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    Cornelius, NC 28031
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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.

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    19725 Oak St, Cornelius, NC, 28031

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