Infill Charlotte - 2nd Generation Restaurant 1500-1502 Central Ave 5,420 SF 100% Leased Retail Building Charlotte, NC 28205 For Sale
INVESTMENT HIGHLIGHTS
- HIGHLY WALKABLE AND AMENITIES PLAZA MIDWOOD NEIGHBORHOOD
- DIRECTLY NEXT DOOR TO THE COMMONWEALTH DEVELOPMENT
- FLEXIBLE ZONING
EXECUTIVE SUMMARY
HIGHLY WALKABLE AND AMENITIES PLAZA MIDWOOD NEIGHBORHOOD
- Plaza Midwood has a 82 walkable score with over 8.5K homes in a 1-mile radius
- Wide variety of local restaurants, bars, and shops are located in the area
- Plaza Midwood has recently become Charlotte’s first “Social District” allowing for to-go drinks in the streets
DENSE AND AFFLUENT SURROUNDING DEMOGRAPHICS
- 1-mile demographics include an AHHI of $146,239 and a population of 15,821 (1.34% annual growth rate since 2020)
- Just under 4,500 multifamily units within a one mile radius
LOCATED IN THE HEART OF CHARLOTTE, NC
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
DIRECTLY NEXT DOOR TO THE COMMONWEALTH DEVELOPMENT
- Spanning 12-acres, Commonwealth will deliver 100k SF of retail, 383 residences, a boutique hotel, and over 400,000 SF of Class A office space in the heart of the Plaza Midwood neighborhood.
FLEXIBLE ZONING
- The property has been rezoned to MUDD-O (Mixed Use Development District) allowing for more flexible building use than surrounding properties
2ND GENERATION RESTAURANT SPACE
- Restaurant infrastructure still in place minimizing out-of-pocket build out expenses for prospective restaurant users
- Plaza Midwood has a 82 walkable score with over 8.5K homes in a 1-mile radius
- Wide variety of local restaurants, bars, and shops are located in the area
- Plaza Midwood has recently become Charlotte’s first “Social District” allowing for to-go drinks in the streets
DENSE AND AFFLUENT SURROUNDING DEMOGRAPHICS
- 1-mile demographics include an AHHI of $146,239 and a population of 15,821 (1.34% annual growth rate since 2020)
- Just under 4,500 multifamily units within a one mile radius
LOCATED IN THE HEART OF CHARLOTTE, NC
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
DIRECTLY NEXT DOOR TO THE COMMONWEALTH DEVELOPMENT
- Spanning 12-acres, Commonwealth will deliver 100k SF of retail, 383 residences, a boutique hotel, and over 400,000 SF of Class A office space in the heart of the Plaza Midwood neighborhood.
FLEXIBLE ZONING
- The property has been rezoned to MUDD-O (Mixed Use Development District) allowing for more flexible building use than surrounding properties
2ND GENERATION RESTAURANT SPACE
- Restaurant infrastructure still in place minimizing out-of-pocket build out expenses for prospective restaurant users
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
5,420 SF
Building Class
C
Year Built/Renovated
1932/2024
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Slab to Slab
11 ft
Building FAR
1.56
Lot Size
0.08 AC
Zoning
MUDD-0 - Mixed-Use Development District
Parking
20 Spaces (3.69 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Route
- Corner Lot
- Motorway Visibility
- Restaurant
- Signage
- Signalised Junction
- Roof Terrace
- Balcony
Walk Score®
Very Walkable (85)
NEARBY MAJOR RETAILERS
![[solidcore]](https://images.loopnet.co.uk/i2/X1DfwMFhQUJtrEvdN0O4PHppb1UchnIXcAPoILYKKzI/105/image.jpg "[solidcore]")
PROPERTY TAXES
| Parcel Number | 081-176-51 | Improvements Assessment | £846,296 |
| Land Assessment | £262,455 | Total Assessment | £1,108,751 |
