2741 Sugar Creek Rd Charlotte, NC 28262
- Lifestyle centers
- 5,802 SF
- 0.43 lot acres
Current Use by Public Records
- Boost Mobile / Cell Phone Store
- smart tech & stereo / Car Stereo Store
Property Details for 2741 Sugar Creek Rd
- Year built
- 1965
- Lot size
- 0.43 lot acres
- Property size
- 5,802 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 5,802 square foot shopping center in Charlotte, NC presents a compelling value-add opportunity. Located at 2741 W Sugar Creek Rd in the rapidly developing Derita area, this single-story, 1965-built property sits on a 0.432-acre lot and is zoned B-2. Currently housing four tenants, the property generates an annual net operating income (NOI) of $48,000, representing a 4.36% capitalization rate. However, a pro-forma analysis suggests a significant upside. With current rents averaging approximately $8.50 per square foot, repositioning the property to market rents of $15 per square foot could yield a pro-forma NOI of $87,030 and a 7.91% cap rate. The asking price is $1,100,000, or $189.59 per square foot. The property features a modified lease structure and is suitable for owner-user investment. Potential buyers are encouraged to conduct their own due diligence and financial projections. This property offers significant potential for increased profitability in a high-growth area. The property's current income stream provides a solid foundation for future value appreciation.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Charlotte
- County
- Mecklenburg
- State
- North Carolina
- Longitude
- -80.8016
- Latitude
- 35.2998
