11431 Tryon St Charlotte, NC 28262

Property Details for 11431 Tryon St

Year built

1940

Lot size

1.01 lot acres

Property size

1,120 SF

Zone code

NS

Property type

Commercial land

APN

2905217

APU

2905217

Description

This exceptional investment opportunity presents a brand-new, 2,570 square foot Starbucks located at 11431 N Tryon St, Charlotte, NC 28262. Built in 2025, this Class A property boasts a strong 10-year net lease with Starbucks Corporation, a credit-rated tenant with a Baa2/BBB+ rating. The lease commenced February 1, 2025, and expires January 31, 2035, offering a remaining term of 10.2 years. The property features a 6.00% cap rate and a Net Operating Income (NOI) of $179,000. Situated on a 1.01-acre lot with 20 parking spaces, this single-tenant building benefits from a prime location with high visibility at a signalized corner intersection of N Tryon St and Pavilion Blvd, experiencing a combined 46,500 vehicles per day. The property is conveniently located 0.25 miles from I-485 (96,500 VPD) and 1 mile from I-85 (134,000 VPD), providing excellent accessibility. The surrounding area demonstrates robust growth, with a 52.83% population increase from 2010-2024 within a 3-mile radius and an affluent demographic boasting an average household income of $108,218 within a 5-mile radius. Nearby amenities include the Shoppes at Mallard Creek, a Walmart Neighborhood Market, PNC Music Pavilion, Atrium Health University City Hospital, and the University of North Carolina Charlotte. The lease includes flat rent for the initial term with a 10% increase in each option period (6, 5-year options). This is a rare opportunity to acquire a high-performing, investment-grade asset in a rapidly growing market. The asking price is $2,983,000.