Restaurant Building with Full
For Sale
Contact for pricing
Pending
3030 Freedom Dr, Charlotte, NC 28208
Commercially zoned restaurant property with a full kitchen, grease trap, and multiple bathroom areas.
Property Size6,800 SF
Lot Size1.48 Acres
Days on Market758
Property Features for 3030 Freedom Dr
General Information
Standard status
Pending
Size
6,800 SF
Total Parking Spaces
84
Lot size
1.48 Acres
Property subtype
Retail
Zoning
Commercial
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Additional Details
Land Use
arcade, restaurant, nightclub, bar, event center
Listing Agency:
Saint Louis Properties Carolinas, LLC
(980) 208-2719
Listed By:
Roosevelt Saint Louis · License #NC 278074
Source:
Crexi
Added: Aug 2, 2024
Changed: Aug 29
Last Checked: Aug 29 at 2:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Saint Louis Properties Carolinas, LLC
Investment Insights
Based on property information with market context.
This 6,800-square-foot restaurant property occupies 1.48 acres and includes a full kitchen equipped with a hood and grease trap. The building also provides two separate bathroom areas, supporting a range of food-service and entertainment configurations.
The property is located at 3030 Freedom Dr in Charlotte, North Carolina, and includes 84 parking spaces. Its stated redevelopment possibilities include restaurant, bar, nightclub, arcade, and event center uses.
The property is located at 3030 Freedom Dr in Charlotte, North Carolina, and includes 84 parking spaces. Its stated redevelopment possibilities include restaurant, bar, nightclub, arcade, and event center uses.
Key Highlights
- 6,800 SF building on 1.48 acres
- Full kitchen with hood and grease trap
- Two sets of bathroom areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$131,274
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,625,480
$2.6M
Cap Rate 7%
$1,875,343
$1.9M
Cap Rate 9%
$1,458,600
$1.5M
Market Conditions
NOI Build-Up for 6,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$179.5K $26.40/SF
− Vacancy
−$4.5K −$0.66/SF
EGI
$175.0K $25.74/SF
− OpEx
−$43.8K −$6.44/SF
NOI
$131.3K $19.31/SF
Area
Charlotte, NC
Vacancy
2.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,625,480
Cap Rate 7%
$1,875,343
Cap Rate 9%
$1,458,600
Alternative Uses
Best Use
Specialty Retail
$1.88M
$1.64M – $2.19M
NOI $131,274 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,509 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
235k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 37%
Apparel 4%
Home Improvements & Furnishings 2%
McDonald's
Dining
34,803 visits/mo
0.5 miles
Dollar Tree
Shops & Services
29,665 visits/mo
0.3 miles
Circle K
Shops & Services
24,709 visits/mo
0.4 miles
Wendy's
Dining
16,017 visits/mo
0.3 miles
Bojangles' Famous Chicken 'n Biscuits
Dining
15,718 visits/mo
0.3 miles
Demographics for 28208, NC
38,614
Population
17,842
Households
2.2
Avg Household Size
34
Median Age
26%
College-Educated
81%
High-School Grad
20.2 sq mi
ZIP Area
1,912
Density / Sq Mi
$51,339
Median Household Income
$40,359
Median Earnings
$1,173
Median Rent
$198,300
Median Home Value
Market
Vacancy Rate% for Retail in Charlotte, NC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercially zoned restaurant property with a full kitchen, grease trap, and multiple bathroom areas.
Where is this conventional restaurant located?
The property is located at 3030 Freedom Dr Charlotte, NC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,800 SF building on 1.48 acres; Full kitchen with hood and grease trap; Two sets of bathroom areas
