Charlotte Redevelopment
421 Honeywood Ave, Charlotte, NC 28216
Prime infill location near Uptown Charlotte with strong growth potential.
Type:Multifamily
Property size:
10,800 SFPrice / SF:
$162/SF- Added:
- Mar 24, 2026
- Days on Market:
- 54
- Last Refresh:
- Mar 25 at 8:49 pm
Property Features for 421 Honeywood Ave
General Information
- Standard status
- Active
- Size
- 10,800 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1969
Listing agent Nick Lancetti License #320264
Listing office Coldwell Banker Realty
Listing date Mar 24, 2026
Source Crexi
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 Coldwell Banker Realty
HighLights
- Prime infill location minutes from Uptown Charlotte and major employment centers.
- Excellent access to I‑85, I‑77, and major thoroughfares providing seamless connectivity.
- Strong rental demand and population growth in the immediate area.
- Surrounded by ongoing residential and mixed‑use development, increasing investor activity.
- Ideal for redevelopment, repositioning, or long‑term hold investment.
- Proximity to retail, dining, and lifestyle amenities.
Overview
Located in a rapidly transforming corridor of Charlotte, North Carolina, the property at 421 Honeywood Avenue presents an investment opportunity. The area benefits from its proximity to Uptown Charlotte, the city’s central business district, which is home to major employers, financial institutions, and a mix of retail, dining, and entertainment. The location is experiencing increased redevelopment activity and rising property values. The property offers connectivity with access to Interstate 85 (I-85), Interstate 77 (I-77), and U.S. Highway 74 (Independence Blvd). These routes provide access throughout the Charlotte MSA, including Charlotte Douglas International Airport, Uptown, and surrounding suburban markets. The surrounding area has seen increased investor activity, with infill redevelopment projects, renovations, and new construction contributing to the neighborhood’s trajectory. The immediate trade area is characterized by population growth, household formation, and rental and housing demand. The property is suited for a variety of uses, including residential redevelopment, long-term hold investment, or potential repositioning depending on zoning and future land use. The property has a size of 10800 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.27M
NOI $114,262 @ 9.00% cap · cautious / downside scenario
Moderate
$1.63M
NOI $114,262 @ 7.00% cap · market / base-case scenario
Aggressive
$2.29M
NOI $114,262 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $226.8k | $21.00 |
| − Vacancy | −$19.1k | −$1.76 |
| EGI | $207.7k | $19.24 |
| − OpEx | −$93.5k | −$8.66 |
| NOI | $114.3k | $10.58 |
10,800 SF · lease $21.00/SF/yr · vacancy 8.40% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,262 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.81M
$3.33M – $4.44M
NOI $266,499 @ 7.0% cap · market cap 15.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Charlotte
- County
- Mecklenburg
- State
- North Carolina
- Longitude
- -80.8746357
- Latitude
- 35.2638538
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Prime infill location near Uptown Charlotte with strong growth potential.
Where is this multifamily property located?
The property is located at 421 Honeywood Ave Charlotte, NC.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Prime infill location minutes from Uptown Charlotte and major employment centers.; Excellent access to I‑85, I‑77, and major thoroughfares providing seamless connectivity.; Strong rental demand and population growth in the immediate area.
