Retail Space on Independence
For Sale
Contact for pricing
7511 E Independence Blvd, Charlotte, NC 28227
Retail space for sale on a highly traveled highway.
Property Size8,784 SF
Price / SF$284.04
Days on Market2211
Property Features for 7511 E Independence Blvd
General Information
Standard status
Active
Size
8,784 SF
Property subtype
Retail
Zoning
CG
Listing Agency:
The Nichols Company
(704) 373-9797
Listed By:
John Nichols · License #NC 179082
Source:
Crexi
Added: Jul 21, 2020
Changed: Aug 8
Last Checked: May 20 at 8:12PM
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 The Nichols Company
Investment Insights
Based on property information with market context.
This +/- 8,784 SF retail space is for sale. The building is located along E. Independence Blvd, a highly traveled highway, adjacent to Independence Square, which is anchored by Super G Mart, Harbor Freight Tools, and Rugged Wearhouse. The property is currently owner occupied by Formula One Imports, a high-end automotive sales and service business.
Key Highlights
- Highly traveled highway location on E. Independence Blvd.
- Adjacent to Independence Square anchored by Super G Mart, Harbor Freight Tools and Rugged Wearhouse.
- +/- 8,784 SF retail space.
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
$107,838
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
4.32%
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%
$2,156,760
$2.2M
Cap Rate 7%
$1,540,543
$1.5M
Cap Rate 9%
$1,198,200
$1.2M
Market Conditions
NOI Build-Up for 8,784 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
$166.5K $18.96/SF
− Vacancy
−$12.5K −$1.42/SF
EGI
$154.1K $17.54/SF
− OpEx
−$46.2K −$5.26/SF
NOI
$107.8K $12.28/SF
Area
ZIP 28227
Vacancy
7.50%
Lease Rate
$18.96 /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%
$2,156,760
Cap Rate 7%
$1,540,543
Cap Rate 9%
$1,198,200
Alternative Uses
Best Use
Retail
$1.54M
$1.35M – $1.80M
NOI $107,838 @ 7.0% cap · market cap 4.32%
Second Best
Industrial
$826.8K
$723.4K – $964.6K
NOI $57,874 @ 7.0% cap · market cap 2.32%
Theoretical Best
Office A
$3.13M
$2.74M – $3.65M
NOI $219,075 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
106k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Home Improvements & Furnishings 9%
Apparel 6%
Electronics 6%
Circle K
Shops & Services
21,817 visits/mo
0.2 miles
Bank of America
Shops & Services
15,767 visits/mo
0.2 miles
Gabe's
Shops & Services
13,011 visits/mo
0.2 miles
Harbor Freight Tools
Home Improvements & Furnishings
8,990 visits/mo
0.0 miles
CarMax
Shops & Services
8,371 visits/mo
0.2 miles
Demographics for 28227, NC
57,126
Population
23,179
Households
2.5
Avg Household Size
38
Median Age
30%
College-Educated
87%
High-School Grad
40.2 sq mi
ZIP Area
1,421
Density / Sq Mi
$75,322
Median Household Income
$41,742
Median Earnings
$1,412
Median Rent
$313,900
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.
Similar Off Market Nearby
- Enterprise Rent-A-Car — 6541 E Independence Blvd, Charlotte, NC 28212
- Level Up Rent A Car — E Independence Blvd, Charlotte, NC 28212
- U-Haul Neighborhood Dealer — 8539 Monroe Rd, Charlotte, NC 28212
- Propane Refill at U-Haul — 6601 E Independence Blvd, Charlotte, NC 28212
- Trailer Rental at U-Haul — 6601 E Independence Blvd, Charlotte, NC 28212
Frequently Asked Questions
What type of property is this?
Automotive property - Retail space for sale on a highly traveled highway.
Where is this automotive property located?
The property is located at 7511 E Independence Blvd Charlotte, NC.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Highly traveled highway location on E. Independence Blvd.; Adjacent to Independence Square anchored by Super G Mart, Harbor Freight Tools and Rugged Wearhouse.; +/- 8,784 SF retail space.
