Charlotte Retail Investment
For Sale
Contact for pricing
Pending
7010-7014 Smith Corners Blvd, Charlotte, NC 28269
31,802 SF commercial property in Northlake Village, Charlotte, NC.
Property Size31,802 SF
Days on Market139
Property Features for 7010-7014 Smith Corners Blvd
General Information
Standard status
Pending
Size
31,802 SF
Total Parking Spaces
120
Property subtype
Retail
Zoning
CC - Commercial Center
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$410,564
Building Details
Year Built
2005
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Ripco Real Estate
(888) 737-2264
Listed By:
Joe Simpson · License #SL3432152
Source:
Crexi
Added: Mar 27
Changed: Aug 8
Last Checked: Aug 12 at 8:10AM
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 Ripco Real Estate
Investment Insights
Based on property information with market context.
Located in Northlake Village, a planned development in Charlotte, NC, the property at 7010-7014 Smith Corners Boulevard offers 31,802 square feet of commercial space. The four-tenant property is situated in the northeast quadrant of the I-77 and Harris Boulevard interchange, an area characterized by a mix of hotels, retailers, and office buildings. The property is 100% occupied by a combination of local and national tenants, with Staples as the anchor tenant. All tenants operate under NNN leases. Staples occupies 64.1% of the total GLA and has 7.3 years remaining on their lease term. The location benefits from high traffic volume, with an AADT of 74,500 on I-77 and 44,000 on Harris Boulevard. Within a one-mile radius, the daytime population is 15,894, and the average household income is $98,470. This property presents an investment opportunity for those seeking a retail center with potential for increased value, strong tenants, and minimal landlord responsibilities.
Key Highlights
- 100% Occupied with stable cash flow due to NNN leases.
- Anchored by Staples**, a national tenant, occupying 64.1% of GLA with 7.3 years remaining on their lease.
- Located in a high‑traffic area with an AADT of 74,500 and 44,000 on I‑77 and Harris Boulevard, respectively.
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
$444,783
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
6.54%
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%
$8,895,660
$8.9M
Cap Rate 7%
$6,354,043
$6.4M
Cap Rate 9%
$4,942,033
$4.9M
Market Conditions
NOI Build-Up for 31,802 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
$686.9K $21.60/SF
− Vacancy
−$51.5K −$1.62/SF
EGI
$635.4K $19.98/SF
− OpEx
−$190.6K −$5.99/SF
NOI
$444.8K $13.99/SF
Area
ZIP 28269
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$8,895,660
Cap Rate 7%
$6,354,043
Cap Rate 9%
$4,942,033
Alternative Uses
Best Use
Retail
$6.35M
$5.56M – $7.41M
NOI $444,783 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.01M
$8.76M – $11.68M
NOI $700,662 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,345
Businesses Nearby
113k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 25%
Hotels & Casinos 15%
Home Improvements & Furnishings 8%
BP
Shops & Services
16,543 visits/mo
0.2 miles
Hickory Tavern
Dining
10,093 visits/mo
0.2 miles
Jack in the Box
Dining
9,824 visits/mo
0.2 miles
Dunkin' Donuts
Dining
9,650 visits/mo
0.1 miles
Azteca
Dining
8,040 visits/mo
0.3 miles
Demographics for 28269, NC
82,422
Population
33,124
Households
2.5
Avg Household Size
35
Median Age
46%
College-Educated
92%
High-School Grad
30.6 sq mi
ZIP Area
2,694
Density / Sq Mi
$81,063
Median Household Income
$48,045
Median Earnings
$1,607
Median Rent
$300,300
Median Home Value
Market
Vacancy Rate% for Retail in Charlotte, NC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - 31,802 SF commercial property in Northlake Village, Charlotte, NC.
Where is this shopping center located?
The property is located at 7010-7014 Smith Corners Blvd Charlotte, NC.
What is the asking price?
The asking price for this property is $6,800,000.
What are key features of this property?
This property features: 100% Occupied with stable cash flow due to NNN leases.; Anchored by Staples**, a national tenant, occupying 64.1% of GLA with 7.3 years remaining on their lease.; Located in a high‑traffic area with an AADT of 74,500 and 44,000 on I‑77 and Harris Boulevard, respectively.
