500 Summit Ave Charlotte, NC 28203
- Warehouses
- 12,000 SF
- 0.45 lot acres
Current Use by Public Records
- Wrigleys Italian beef / Catering Food And Drink Supplier
- Queen City Chicken / Restaurant
- Amuse Bouche Restaurants / Restaurant / Delivery Restaurant
- The Panini Grill / Restaurant
- Queen City Roti Shop / Caribbean Restaurant
Property Details for 500 Summit Ave
- Year built
- 1969
- Lot size
- 0.45 lot acres
- Property size
- 12,000 SF
- Zone code
- I2
- Property type
- Warehouses
- APN
- 7326211
- APU
- 7326211
Description
This 200-square-foot Class B commercial kitchen space is located in Charlotte, NC's South End, at 500 W Summit Ave, zip code 28203. The single-tenant property offers a turnkey solution for restaurant owners seeking to expand their business quickly and affordably. Ideal for various concepts, including startups, personal chefs, caterers, food trucks, and established chains, this ghost kitchen boasts a walk-in cooler and large hood. Its prime location benefits from high delivery demand from nearby downtown and residential neighborhoods. A sizable outdoor dining area provides a convenient pickup spot for customers. The space is currently vacant and ready for immediate occupancy. Charlotte's strong business and residential presence make it a top food delivery market nationally, presenting a significant opportunity for growth and profitability. This property offers lower risk and higher return potential for food-based businesses. The kitchen is perfect for operators seeking to minimize staffing needs and maximize efficiency.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,115,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,850,000
- 6.5%
- $1,770,000
- 7%
- $1,980,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,690,000
- Geo Method
- $1,655,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,020,000
- Retail
- $1,905,000
- Mixed-Use
- $1,930,000
- Hospitality
- $1,670,000
- Educational
- $1,585,000
- Residential Income
- $1,900,000
- Energy
- $1,860,000
- Income-Based Land
- $2,135,000
- Food Service
- $1,830,000
Location Insight
- Map
- Local Demand
- City
- Charlotte
- County
- Mecklenburg
- State
- North Carolina
- Longitude
- -80.8607
- Latitude
- 35.22
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
