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33420799
33420800

2917 S PROVIDENCE RD, WAXHAW, NC 28173-8327

CP
NC 341663
MPV Properties
MPV Properties
MPV Properties
MN
NC 111045, SC 24139
MPV Properties
Listed by MPV Properties
$3,916,094
2 days on market
Updated 2 days ago

2917 S PROVIDENCE RD WAXHAW NC 28173-8327

Details
APN 06162018A
Property Type Retail, Office
Sub Type Medical Office
Square Footage 7,695
Units 1
Cap Rate 6.15%
NOI $240,839
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Lease Options 2x5 years
Class A
Year Built 2021
Buildings 1
Acreage 1.090
Investment Type Net Lease
Ground Lease No

6.15% Cap Rate | Multi-Tenant NNN | Charlotte MSA

Marketing description

Carrington Square presents an exceptional opportunity to acquire a newly built, 100% occupied multi-tenant NNN retail asset in one of the Charlotte MSA’s fastest-growing and most affluent submarkets. Located at 2917 S Providence Road, Waxhaw, NC 28173, this ±7,695 SF center was built in 2021 and is anchored by a complementary mix of tenants including Carrington Square Dental, Salon 2917, and Pediatric Dentistry of Wesley Chapel. Positioned adjacent to ALDI, the property benefits from strong daily traffic and powerful retail synergy alongside nearby national and regional retailers such as Lowe’s Home Improvement, Walmart Neighborhood Market, Harris Teeter, McDonald’s, and Atrium Health. The asset features a stable NNN lease structure, 100% occupancy, and contractual 2.5% annual rent escalations that provide built-in NOI growth and inflation protection. Located in affluent Waxhaw, where average household incomes exceed $197,000 within one mile, Carrington Square is surrounded by significant residential expansion and a family-oriented consumer base. With high barriers to entry, strong demographics, and a prime South Charlotte location, this offering combines durable cash flow with long-term upside in a supply-constrained market.

Investment highlights

  • Affluent South Charlotte Location – Average household incomes exceed $197,000
  • Shadow-Anchor to ALDI – Co-tenancy with Aldi drives anchorquality foot traffic
  • Amazon & Recession-Resistant Tenants
  • Contractual NOI Growth – Annual rent escalations hedge inflation and compound asset value with no capital required
  • High Barrier-to-Entry Market – Limited land, tight zoning, and surging residential growth create structural scarcity – protecting from new supply and driving rental rates across the submarket
  • Retail Synergy – Adjacent to ALDI, a national grocer that attracts strong daily foot traffic, and positioned alongside popular local retailers including Lowes Foods, Atrium Health, Lowe's Home Improvement,
  • Walmart Neighborhood Market, Harris Teeter, McDonald's, Bojangles, and East Coast Wings

Listing Contacts

CP
NC 341663
MPV Properties
MPV Properties
MPV Properties
MN
NC 111045, SC 24139
MPV Properties
Listed by MPV Properties

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$240,839.00
$20,069.92/mo

Valuation Metrics

0
DSCR
6.15%
Cap Rate
6.15%
ROI

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Additional Information

Name
Chad Pyke
License
341663
Brokerage
MPV Properties
Title
Broker
Name
Ferris Edwards
License
308212
Brokerage
MPV Properties
Brokerage Phone
7043675022
Title
Investment Sales Associate
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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