2801 Sugar Creek Rd Charlotte, NC 28262

Property Details for 2801 Sugar Creek Rd

Property size

43,107 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a three-property retail portfolio totaling 43,107 square feet. The portfolio comprises three multi-tenant shopping centers, strategically located across high-growth areas in Charlotte, North Carolina, and Fort Mill, South Carolina. Currently operating at or near 100% occupancy, this value-add opportunity offers significant upside potential through immediate mark-to-market rent adjustments. The average in-place rental rate is substantially below market, promising a substantial increase in net operating income (NOI) within the first year. Flexible lease terms with near-term rollover or renewal options provide further flexibility for new ownership. Modified gross leases offer the potential for conversion to NNN leases upon renewal. The properties benefit from convenient access and high visibility, situated near major thoroughfares and experiencing steady population growth in surrounding areas. Each center is strategically positioned within thriving neighborhoods, with ongoing retail and residential development nearby. This portfolio is debt-free and priced below replacement cost, representing a compelling investment in a dynamic market with low vacancy rates and consistent year-over-year rental increases. The portfolio's location offers excellent connectivity to Charlotte's city center and benefits from high traffic counts. This is a rare opportunity to acquire a well-performing, multi-property retail portfolio with significant upside potential in a rapidly growing market. Addresses include 2801-2825 W Sugar Creek Rd and 2945 Derita Ave in Charlotte, NC, and 818 Tom Hall St in Fort Mill, SC.

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Longitude

-80.8018

Latitude

35.3