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    1500-1502 Central Ave Charlotte, NC 28205

    For Sale
    Contact for pricing

    Prime location, 5,420 sq ft, renovated restaurant

    Property size:
    5,420 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 5,420-square-foot restaurant building is located in Charlotte, North Carolina's vibrant Plaza Midwood neighborhood. Built in 1932 and completely renovated in 2024, this Class A property offers a unique opportunity for investors or restaurant operators. Currently vacant, the space boasts a fully equipped kitchen, a spacious dining area, and an outdoor seating area, minimizing upfront build-out costs for prospective users. The property sits on a 0.083-acre lot and is a two-story building. Its MUDD-O zoning allows for flexible use, maximizing its potential. The building's prime location along Central Avenue, approximately two miles from uptown Charlotte, places it within a thriving area known for its walkability, high concentration of restaurants, breweries, and coffee shops, and strong foot traffic. The surrounding area features a high concentration of affluent residents, with a population of 15,821 within a one-mile radius and an average household income of $146,239. The area's growth is projected to continue, with Charlotte forecasting a 45.2% job growth over the next 10 years. The property's adjacency to the Commonwealth development, a large mixed-use project, further enhances its value and potential for future growth. This is a rare opportunity to acquire a fully renovated, infill restaurant space in one of Charlotte's most desirable and rapidly developing neighborhoods. The fee-simple ownership provides complete control and long-term investment potential.

    Property Features for 1500-1502 Central Ave

    General Information

    Property type
    Restaurants
    Square Feet
    5,420 SF
    Class
    A
    Lot Size
    3,615 SF

    Building Details

    Year Built/Renovated
    1932/2024
    Buildings
    1
    Stories
    2

    HighLights

    • Highly walkable Plaza Midwood location (Walk Score 82), surrounded by 8,500+ homes and numerous restaurants, bars, and shops; recently designated Charlotte's first Social District.
    • Dense, affluent demographics within one mile: $146,239 average household income, 15,821 population (1.34% annual growth since 2020), and nearly 4,500 multifamily units.
    • Prime Charlotte, NC location: Top‑ranked residential market with strong projected job growth (45.2% over 10 years).
    • Adjacent to the 12‑acre Commonwealth development, including retail, residential, hotel, and Class A office space.
    • MUDD‑O zoning allows for flexible building use.
    • Existing restaurant infrastructure minimizes build‑out costs for restaurant tenants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8133676
    Latitude
    35.2202136

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    FAQs

    What type of property is this?
    Restaurant - Prime location, 5,420 sq ft, renovated restaurant
    Where is this restaurant located?
    The property is located at 1500-1502 Central Ave Charlotte, NC.
    What are key features of this property?
    This property features: Highly walkable Plaza Midwood location (Walk Score 82), surrounded by 8,500+ homes and numerous restaurants, bars, and shops; recently designated Charlotte's first Social District.; Dense, affluent demographics within one mile: $146,239 average household income, 15,821 population (1.34% annual growth since 2020), and nearly 4,500 multifamily units.; Prime Charlotte, NC location: Top-ranked residential market with strong projected job growth (45.2% over 10 years).
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    Charlotte, NC 28205
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1500-1502 Central Ave Charlotte, NC 28205
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