7024 SMITH CORNERS BLVD Charlotte NC 28269-3793

RIPCO Real Estate is pleased to offer for sale 7010-7014 Smith Corners Boulevard, a 31,802 SF, four tenant commercial property located in Northlake Village, a planned development in Charlotte, NC. The property is located in the northeast quadrant of the I-77 and Harris Boulevard interchange, surrounded by a diverse lineup of hotels, retailers, and office buildings. The property is 100% occupied by a mix of local and national tenants, with Staples anchoring the center. All the current tenants have NNN leases, providing investors with stable cash flow throughout their hold period. Staples occupies 64.1% of the total GLA and has 7.3 years remaining in their lease term. This stretch of I-77 and Harris Boulevard where the property is located has an AADT of 74,500 and 44,000, respectively. Within 1 mile of the subject property, there is a daytime population of 15,894 and an average household income of $98,470.

The asset would be an attractive investment opportunity for investors looking for a value-add retail center with mark to market opportunity, located in one of the top 10 fastest growing

cities in the United States, with strong local and national tenants, and minimal landlord responsibilities.

• The center is occupied by four tenants: Two tenants occupying 72% of the GLA are national tenants and the remaining two tenants are local/regional tenants
• Staples, Inc. has investment grade ratings from Moody’s and Standard and Poor’s of (B3, B-), respectively
• Leslie’s Poolmart, Inc. has investment grade ratings from Moody’s and Standard and Poor’s of (B2, B-), respectively
• Carter Lumber is a large, family-owned business with over 170 locations across 13 states and has been operating since 1932. While privately held, its significant size, long operating history and client base of professional builders indicate a stable financial base, providing security to an investor
• Small shop space tenants paying below market rent, providing investors the opportunity to increase cash flow with mark to market opportunities as leases roll over
• 100% occupied by four tenants, of which Staples has occupied for nearly 20 years
• All tenants currently have NNN leases, providing stable cash flow and minimizing landlord responsibilities
• Charlotte, NC is the 6th fastest growing large city in the country
• The property is located in the northeast quadrant of the I-77 and Harris Boulevard interchange
• 15,894 daytime population within a 1-mile radius

• NNN Lease: $8.00 PSF; "as-as" delivery
• Sale Price: $4.5 million
• Lot size is 3 AC
• Zoned - Commercial Center
• Pylon sign available
• 0.3 miles from the I-77 interchange & 1.8 miles from the I-485 interchange
• Area retailers include: Havertys, La-Z-Boy, Stickley Audi & Co, Staples, Golf Galaxy, Super Target, Party City, REI, Apple, Dick's Sporting Goods, H&M, Pottery Barn
• Traffic Counts: W WT Harris Blvd - 48,000 AADT; Statesville Rd - 14,000 AADT; I-77 - 84,000 AADT; I-485 - 56,000 AADT