Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail, Restaurant, Entertainment Concept Space Title is generated by Realmo AI

    University City Blvd, Charlotte, NC

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Adaptively reused space for retail, restaurant, and entertainment concepts.

    Type:LAND
    Lot size:
    1.70 Acres
    Added:
    Aug 1, 2022
    Days on Market:
    1381
    Last Refresh:
    Apr 5 at 8:55 pm

    Property Features for University City Blvd

    General Information

    Standard status
    Active
    Lot size
    1.70 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Jay Priester

    Listing agent Jay Priester

    Listing office Cambridge Properties, Inc.

    Listing date Aug 1, 2022

    Source Moodyscre

    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 Cambridge Properties, Inc.

    HighLights

    • Located between Topgolf and 345 multifamily units under construction.
    • Adaptive reuse property reimagined for retail, restaurant, and entertainment.
    • Half‑mile from the University City light rail station.
    • Rooftop views of uptown Charlotte.
    • Located at the intersection of Ikea Boulevard and McFarlane Boulevard.
    • Constructed in the early 1980s.

    Overview

    The Mack at the Green at University City, situated at the intersection of Ikea Boulevard and McFarlane Boulevard, was originally constructed in the early 1980s as a drug manufacturing facility. Currently, the property is being adaptively reused and reimagined for retail, restaurant, and entertainment concept space. The Mack at the Green is located between Topgolf and 345 multi-family units under construction within the Green at University City. It is also located a half-mile from the University City light rail station and offers rooftop views of uptown Charlotte.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7655
    Latitude
    35.2895

    Nearby Similar for Sale

    • $523,900

      University City Office Investment Package

      Tenant-occupied office condos in University City, great investment opportunity.
      1913 J N Pease Place, Charlotte, NC 28262
      View Details
    • $525,000

      Commercial Opportunity Near Uptown Charlotte

      Commercial property near Uptown Charlotte with flexible-use rooms and ample parking.
      738 Pierson Drive, Charlotte, NC 28205
      View Details
    • $579,000

      South Charlotte Office/Warehouse Space

      End-unit office/warehouse near HWY-77 & HWY-485 interchange.
      362 Crompton Street, Charlotte, NC 28273
      View Details
    • $440,000
      1,800 SF

      East Charlotte Duplex Investment Opportunity

      Well-maintained duplex in East Charlotte with income potential.
      2929 Amity Garden Court, Charlotte, NC 28205
      View Details
    • $700,000

      Classic Duplex in Historic Elizabeth

      Charming Charlotte duplex: income potential in a desirable location.
      2530 E 7th Street, Charlotte, NC 28204
      View Details
    • $397,000

      Renovated Duplex in Park Plaza

      Two renovated units near recreation, shopping, and dining.
      5001 5003 Lakecrest Drive, Charlotte, NC 28215
      View Details
    • $2,500,000

      Retail Buildings in Charlotte, NC

      Two retail buildings on 0.733 acres in Charlotte, NC.
      2934 & 2938 Shamrock Drive, Charlotte, NC 28205
      View Details
    • $650,000

      New Construction Duplex Near Uptown

      New construction ranch-style duplex, ideal for investment or owner-occupancy.
      6016/6020 Paw Creek Road, Charlotte, NC 28214
      View Details
    • $794,900
      4,010 SF

      New Construction Duplex in Charlotte

      New construction duplex with modern amenities and convenient location.
      339 & 343 Gray Drive, Charlotte, NC 28213
      View Details
    • $675,000

      New Construction Charlotte Multifamily Property

      New construction duplex with detached ADU built in 2024.
      729 Wabash Avenue, Charlotte, NC 28208
      View Details
    • $559,000

      Duplex in Convenient Charlotte Location

      Duplex near schools, shopping, and dining in Charlotte, NC.
      5729 Brickstone Drive, Charlotte, NC 28227
      View Details
    • $540,000

      Ayrsley Mixed-Use Landmark Property

      Exceptional mixed-use property in a dynamic Charlotte location.
      2108 Ayrsley Town Boulevard, Charlotte, NC 28273
      View Details

    FAQs

    What type of property is this?
    Retail space - Adaptively reused space for retail, restaurant, and entertainment concepts.
    Where is this retail space located?
    The property is located at University City Blvd Charlotte, NC.
    What are key features of this property?
    This property features: Located between Topgolf and 345 multifamily units under construction.; Adaptive reuse property reimagined for retail, restaurant, and entertainment.; Half‑mile from the University City light rail station.
    (704) 333-2393 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jay Priester
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    University City Blvd, Charlotte, NC
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!