2504 W Sugar Creek Rd, Charlotte, NC 28262

Exceptional Investment Opportunity in a Rapidly Growing Corridor: Presenting a prime unanchored multi-tenant retail shopping strip located at 2504-2510 W Sugar Creek Rd, Charlotte, NC 28262. This property is strategically situated in one of Charlotte's most sought-after zip codes, benefiting from substantial development and an influx of new residents. The Sugar Creek area is poised for significant growth and rediscovery, much like successful transformations seen in Plaza Midwood, South End, and NoDa.

Strong In-Place Income with Significant Upside: This offering boasts an attractive in-place cap rate of 6.36% with current NOI at $143,052. Further enhancing its appeal, the projected year 3 pro forma cap rate reaches an impressive 7.8%, indicating substantial growth potential and a secure return on investment. The property currently enjoys 100% occupancy across its four suites.

Recent Extensive Renovations: Over $600,000 has been invested in comprehensive renovations to this nearly 6,000 square foot multi-tenant retail building. These significant updates, completed in 2023/2024, include a new roof, new HVAC systems, and new electrical, ensuring a modern and well-maintained asset for years to come.

High Visibility and Accessibility: The property offers direct frontage on West Sugar Creek Road, benefiting from a strong traffic count of 25,000 vehicles per day. Its strategic location also provides close proximity to the proposed LYNX Light Rail - Red Line, further enhancing future connectivity and value.

Surrounded by Development: The area around the property is experiencing robust development, with approximately 160 townhouse projects less than a quarter-mile away. This ongoing growth signals a strong and expanding customer base for the retail tenants.

Diverse and Stable Tenant Mix: The property features a diverse tenant mix, including Lavish Smoke, Tienda Los Arcos, La Michoacana Mix Ice Cream, and The Million Dollar Spa. All leases are NNN and include 3% annual rent increases, providing predictable income growth.

Established Charlotte Market Fundamentals: Charlotte is a rapidly expanding metropolitan area, attracting over 115 new residents daily, and is recognized as one of the nation's fastest-growing metros over the past 15 years. The city benefits from a skilled workforce, consistent population growth, and a diversifying economic base that includes 10 Fortune 500 companies.