1515 Mint St, Charlotte, NC 28203-4346
- Retail space
- 6,800 SF
- 0.17 lot acres
Current Use by Public Records
- The Horseshoe / Restaurant
Property Details for 1515 Mint St
- Year built
- 1946
- Lot size
- 0.17 lot acres
- Zone code
- I1
- Property type
- Retail space
- APN
- 11908316
- APU
- 11908316
Description
This exceptional Class A, multi-tenant storefront property at 1515 S Mint St, Charlotte, NC 28203, presents a compelling investment opportunity. Boasting 12,288 square feet on a 0.511-acre lot, this stabilized investment features three tenants with a 100% occupancy rate and a remaining lease term of 6.4 years. The property, built in 1946 and extensively renovated in 2020 (including a new roof with a 20-year warranty), benefits from a strong NOI of $433,044 and a 6.00% cap rate, with an asking price of $7,217,000 ($587.32/sq ft). The tenant mix comprises primarily food and beverage establishments (78% of GLA) and a regional orthodontist (22% of GLA), all experienced multi-unit operators with proven track records across the Carolinas. Located in the heart of South End's Gold District, this property enjoys excellent walkability, proximity to thousands of apartments, and is less than a 10-minute walk from the Bland St Light Rail Station and a 15-minute walk from Bank of America Stadium. The property benefits from a dense, affluent, and rapidly growing demographic area, with over 20,000 people within a 1-mile radius boasting average household incomes exceeding $140,000 and a projected 7%+ annual population growth over the next five years. All leases include contractual 3% annual rent increases, providing a built-in hedge against inflation. This is a rare opportunity to acquire a high-performing, well-located retail asset in one of the nation's fastest-growing submarkets. The NNN lease structure further minimizes landlord responsibilities.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,185,000
- ML approach
- $2,115,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,900,000
- 6.5%
- $1,750,000
- 7%
- $1,625,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,964,000
Market price range: $1.96M - $4.72M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $2,740,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Charlotte
- County
- Mecklenburg
- State
- North Carolina
- Longitude
- -80.8611
- Latitude
- 35.2186
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
