Grand Oaks
Grand Oaks | 8.58 % CAGR | Value-add Opportunity
Marketing description
Berkeley Capital Advisors is pleased to exclusively present Grand Oaks, a 32,942 SF, 100% leased retail center located in Charlotte, NC. The property is positioned along South Boulevard, one of Charlotte’s busiest commercial corridors, which sees approximately 29,000 vehicles per day. The center is also located just 0.3 miles from the nearest station on the LYNX Blue Line, Charlotte’s primary rapid transit line that serves more than 27,700 daily riders. The shopping center is anchored by WOW Supermarket, a Latino grocery store, and features ten below-market shop tenants with near-term lease expirations. The property offers value-add upside through mark-to-market rent opportunities and potential redevelopment along one of Charlotte’s premier retail corridors. Grand Oaks also benefits from its proximity to South End and SouthPark, two of Charlotte’s fastest-growing submarkets, with approximately 2,100 multifamily units delivered within a two-mile radius of the site since 2020.
Investment highlights
VALUE-ADD OPPORTUNITY: In place shop tenants currently make up 59% of the rent roll with rents ranging from $12.71 to $18.88 PSF, presenting a clear path to growth through mark to market rents. All tenants other than WOW are out of options giving landlord full control of shop tenants by 2033 and access to over 50% of the shop tenants by 2029. Assuming rents of $30-$35 PSF buyers can add roughly 375k in additional annual rent.
SOUTH BLVD & LYNX BLUE LINE: Grand Oaks is strategically positioned on South Boulevard (29,000 VPD), one of Charlotte’s busiest commercial corridors and a primary route linking the southern suburbs to Uptown Charlotte. The property is adjacent to the LYNX Blue Line, which serves over 27,700 daily passenger trips, providing strong transit connectivity for a neighborhood retail center. This combination of heavy vehicular traffic and light rail access supports steady tenant performance and consumer flow.
PROXIMITY TO HIGH GROWTH SUBMARKETS: Grand Oaks sits on South Boulevard between South End and SouthPark, two of Charlotte’s fastest growing and most affluent submarkets, boasting average household incomes above $100,000. The property benefits directly from this expanding population with roughly 2,100 multifamily units delivered within a 2-mile radius of the site since 2020 and with 314 currently under construction.
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