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    2501 The Plz Charlotte, NC 28205

    • Neighborhood centers
    • 21,091 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Humbug / Bar
    • PrintWithMe Print Kiosk at Summit Coffee - On the Plaza / Print Shop
    • All Kids Pediatric Dentistry / Pediatric Dentist
    • Dentistry on The Plaza / Dentist / Cosmetic Dentist
    • Dr. Lajoi Wiggins / Dentist

    Property Details for 2501 The Plz

    Year built
    1949
    Property size
    21,091 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    Plaza Hill, located at 2501 The Plaza in Charlotte, NC 28205, presents a prime retail investment opportunity. This 21,091 square foot strip center, built in 1949 and extensively renovated in 2021, offers a blend of classic charm and modern functionality. The property boasts a total of ten suites, with three currently available for lease. Space sizes range from a minimum of 1,855 square feet to a maximum contiguous space of 8,408 square feet, providing flexibility for various retail concepts. The two-story building is situated on a single lot and features ample parking with 64 spaces for customer convenience. Its strategic location near Duncan Avenue ensures high visibility and accessibility. The property's recent renovation ensures modern amenities and updated infrastructure, making it an attractive option for businesses seeking a well-maintained and established retail space in a thriving Charlotte neighborhood. The property's strong location and recent upgrades make it an ideal investment for those seeking a stable and potentially high-return retail property. This is a rare opportunity to acquire a well-maintained, established retail center in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8047
    Latitude
    35.2355

    Comparable in this City

    • Value Estimation
      $335,000
      7,473 SF

      925 Eastway Dr

      SHOPPING CENTER, STRIP CENTER • 7,473 SF
      925 Eastway Dr, Charlotte, NC 28205-1476
      View Details
    • Value Estimation
      $310,000
      5,850 SF

      3101 Central Ave

      SHOPPING CENTER, STRIP CENTER • 5,850 SF
      3101 Central Ave, Charlotte, NC 28205-6062
      View Details
    • Value Estimation
      $400,000
      10,080 SF

      3000 Central Ave

      SHOPPING CENTER, STRIP CENTER • 10,080 SF
      3000 Central Ave, Charlotte, NC 28205-4072
      View Details
    • Value Estimation
      $400,000
      9,768 SF

      4416 Central Ave

      SHOPPING CENTER, STRIP CENTER • 9,768 SF
      4416 Central Ave, Charlotte, NC 28205-5702
      View Details
    • Value Estimation
      $800,000
      53,958 SF

      4420 Monroe Rd

      SHOPPING CENTER, STRIP CENTER • 53,958 SF
      4420 Monroe Rd, Charlotte, NC 28205-7714
      View Details
    • Value Estimation
      $315,000
      3,776 SF

      1126 Morningside Dr

      SHOPPING CENTER, STRIP CENTER • 3,776 SF
      1126 Morningside Dr, Charlotte, NC 28205-5302
      View Details

    Similar Nearby for Sale

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      5,420 SF

      Plaza Midwood Restaurant - Charlotte, NC

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      480 SF

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      Plaza Midwood Retail Opportunity

      Iconic Charlotte Restaurant & Retail Space
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      7,000 SF

      Retail Space on The Plaza

      Retail property with 7,000 square feet of space.
      2808-2820 The Plz, Charlotte, NC 28205
      View Details
    • $1,200,000
      0.44 Acres

      Prime Charlotte Commercial Land

      .44-acre mixed-use property, ideal for owner-users.
      2522 The Plz, Charlotte, NC 28205
      View Details
    • $1,550,000
      1,888 SF

      Prime Restaurant Space in Plaza Midwood

      Turnkey restaurant with indoor/outdoor appeal in a sought-after location.
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    Similar Nearby for Lease

    • Contact for pricing
      21,091 SF

      Plaza Hill Retail Center

      Charlotte Strip Mall, 3 Spaces Available
      2501 The Plz, Charlotte, NC 28205
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    • Contact for pricing
      2,480 SF

      Plaza Midwood Medical Office Space

      2,480 SF Medical Office - Charlotte, NC
      1111 The Plz, Charlotte, NC 28205
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      13,829 SF

      Charlotte Office Space - Plaza Submarket

      Prime Office/Retail Space Available in Plaza
      1159 Commercial Ave, Charlotte, NC 28205
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    • Contact for pricing
      18,055 SF

      NODA Retail Space - Charlotte, NC

      18,055 SF Flex Space, High Traffic Area
      2001 Davidson St, Charlotte, NC 28205
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      1,500 SF

      Retail Space in Charlotte, NC

      Retail space available in community shopping center.
      3056 Eastway Dr, Charlotte, NC 28205
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    • Contact for pricing

      Eastway Drive Retail Center Space

      Retail space in Food Lion and Ross anchored shopping center.
      3211 Eastway Dr, Charlotte, NC 28205
      View Details
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    2501 The Plz
    Charlotte, NC 28205
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    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
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