Historic Retail/Office Condo in
221 S Tryon St, Charlotte, NC 28202
For Sale
Contact for pricing
Pending
Retail/office condo in historic building, Charlotte's Central Business District.
Property Size4,149 SF
Days on Market808
Property Features for 221 S Tryon St
General Information
Standard status
Size
Class
Property subtype
Zoning
Site & Location
Neighborhood
Building Details
Year Built
Year Renovated
Buildings
Stories
Listing Agency:
First & Early Partners
Listed By:
Katie Corrie · License NC #306897
(803) 230-4185
Source:
Crexi
Added: Aug 30, 2024
Changed: Nov 6
Last Checked: Nov 14 at 4:32AM
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 First & Early Partners
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Investment Insights
Based on property information with market context.
Located at 221 South Tryon Street in Charlotte's Central Business District, this retail/office condominium is situated within the historic McCausland Building, formerly Thacker’s Restaurant. The property offers 4,149 square feet of ground floor retail/office space in Suite 100. Originally constructed in 1899 for stove merchants and tinsmiths, the building was renovated in 1936 as Thacker’s Restaurant. The building showcases Charlotte's commercial architecture and serves as a reminder of the city's evolution. The location is in the heart of Uptown Charlotte, known for its dynamic street retail scene. The property is near the NASCAR Hall of Fame and the Spectrum Center, home of the Charlotte Hornets. The EpiCentre entertainment complex and Bank of America Stadium are also nearby, enriching the area's appeal. This location offers an environment for retail success in Charlotte's urban landscape.
Key Highlights
- Prime location in the heart of Uptown Charlotte's dynamic street retail scene.
- Rare historic landmark building (McCausland Building‑Thacker’s Restaurant) dating back to 1899.
- 4,149 SF of ground floor retail/office space (Suite 100).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,613
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,232,260
$1.2M
Cap Rate 7%
$880,186
$880.2K
Cap Rate 9%
$684,589
$684.6K
Market Conditions
NOI Build-Up for 4,149 SF
Gross rent
$109.5K $26.40/SF
− Vacancy
−$11.0K −$2.64/SF
EGI
$98.6K $23.76/SF
− OpEx
−$37.0K −$8.91/SF
NOI
$61.6K $14.85/SF
Area
Charlotte, NC
Vacancy
10.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,232,260
Cap Rate 7%
$880,186
Cap Rate 9%
$684,589
Alternative Uses
Best Use
Mixed Use
$880.2K
$770.2K – $1.03M
NOI $61,613 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,714 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6,884
Businesses Nearby
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Business Placement
Demographics for 28202, NC
16,447
Population
11,490
Households
1.4
Avg Household Size
31
Median Age
64%
College-Educated
95%
High-School Grad
1.8 sq mi
ZIP Area
9,137
Density / Sq Mi
$101,711
Median Household Income
$67,683
Median Earnings
$1,862
Median Rent
$425,900
Median Home Value
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Market
Properties on Market for Mixed-use properties in Mecklenburg County
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail/office condo in historic building, Charlotte's Central Business District.
Where is this mixed-use property located?
The property is located at 221 S Tryon St Charlotte, NC.
What is the asking price?
The asking price for this property is $2,175,000.
What are key features of this property?
This property features: Prime location in the heart of Uptown Charlotte's dynamic street retail scene.; Rare historic landmark building (McCausland Building‑Thacker’s Restaurant) dating back to 1899.; 4,149 SF of ground floor retail/office space (Suite 100).
