19725 Oak StCornelius, NC 28031

Property Details for 19725 Oak St

Year built

1920

Lot size

3.59 AC

Property size (Sq ft)

41,128 SF

Zone code

TC

Property type

Retail properties

Property subtype

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.

• CAP approach

  CAP return

  Valuation

  6%

  $14,575,005

  6.5%

  $13,453,851

  7%

  $12,492,862

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,550,832

  Geo Method

  $17,550,832

• Alternative Use

  Use

  Valuation

  Residential

  $11,348,827

  Hospitality

  $10,395,464

  Educational

  $8,648,904

  Medical

  $8,946,353

  Retail

  $13,453,851

Location Insight

City

Cornelius

County

Mecklenburg

State

North Carolina

Latitude

35.4807

Longitude

-80.8599

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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