1501 Tryon St Charlotte, NC 28206-2725
- Car washes
- 4,732 SF
- 1.14 lot acres
Current Use by Public Records
- Xpress Mart 68 / Grocery Store
- 7-ELEVEN 35575 / Gas Station
Property Details for 1501 Tryon St
- Year built
- 2001
- Lot size
- 1.14 lot acres
- Property size
- 4,732 SF
- Zone code
- I2
- Property type
- Car washes
- APN
- 7811509
- APU
- 7811509
Description
This exceptional 1.14-acre commercial property, located at 1501 N Tryon St in Charlotte, NC (zip code 28206), presents a unique investment opportunity. Currently zoned ML-2, this site offers flexible usage potential and easy rezoning capabilities, particularly given the recent multi-family rezoning of adjacent properties. The property boasts a prime corner location at the well-lit intersection of Dalton Ave (9,500 vehicles per day) and N. Tryon St (21,500 vehicles per day), providing two convenient access points. Previously occupied by a 7-Eleven, the existing lease has approximately 1.9 years remaining (expiring 09/29/2026), with the tenant currently paying dark rent. This provides immediate cash flow potential or the option to terminate the lease early. All underground storage tanks and canopies have been removed. The property benefits from its proximity to thriving areas: approximately half a mile to Optimist Hall, one mile to Camp North End and Uptown Charlotte, and two miles to NoDa. The surrounding area demonstrates strong demographics, with a population of 121,000 within a three-mile radius and an average household income exceeding $105,000. Charlotte's robust economic growth, projected at a 45.2% job increase over the next decade, further enhances the investment appeal. The site's location within the rapidly developing North End/Optimist Park submarkets, characterized by significant recent and ongoing multi-family development (over 5,200 units delivered since 2019 within a one-mile radius, with 2,249 units currently under construction), underscores its long-term growth potential. The asking price for this fee-simple property is $2,980,000.
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
- -80.8276
- Latitude
- 35.2392
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
