2917 S PROVIDENCE RD WAXHAW NC 28173-8327
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
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