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10635 Park Rd 58,493 SF 100% Leased Office Building Charlotte, NC 28210 $27,986,016 ($478.45/SF) 6.15% Cap Rate
Investment Highlights
- Redevelopment – down-to-the-studs renovation of 58,483 SF, creating modern medical office space for long-term tenancy
- Hospital Grade Anchor Tenant – Tryon Medical Partners occupies 42% of the building, providing stable, credit-backed income
- Built-In Income Growth – annual rent increases during base and option periods provide an inflation hedge and long-term NOI growth
- Hospital-Adjacent / On-Campus – 170 yards from Atrium Health Pineville, a 235-bed regional hospital, capturing referral-driven patient traffic
- NNN Lease Structure – minimal landlord responsibilities, ensuring predictable cash flow
- Prime South Charlotte Location – immediate access to Interstate 485, North Carolina Highway 51, and Park Road, serving a large, affluent population
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
58,493 SF
Building Class
B
Year Built/Renovated
1981/2024
Price
$27,986,016
Price Per SF
$478.45
Cap Rate
6.15%
NOI
$1,721,140
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
58,493 SF
Building FAR
0.25
Lot Size
5.33 AC
Zoning
B4 - Business
Parking
399 Spaces (6.82 Spaces per 1,000 SF Leased)
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 221-192-15 | Improvements Assessment | $9,760,600 |
| Land Assessment | $4,233,900 | Total Assessment | $13,994,500 |
Property Taxes
Parcel Number
221-192-15
Land Assessment
$4,233,900
Improvements Assessment
$9,760,600
Total Assessment
$13,994,500
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