University Place Shops
Retail | 6.40% CAP | 4,998 SqFt
Marketing description
Trinity Partners, on behalf of the Owner, is pleased to serve as the exclusive advisor for the sale of University Place Shops in Charlotte, NC, a ±4,998 square foot freestanding retail property leased to Noodles & Company and Mezeh on a triple-net basis with an average of over eight years of remaining lease term.
This property has an outstanding Charlotte location in a robust, highly dynamic area of northeast Mecklenburg County known as University City, adjacent the University of North Carolina at Charlotte campus, University Research Park, and Carolinas Healthcare System University. In addition, recent nearby retail, hospitality and light rail transit-related developments have further enhanced the property's superior appeal and potential for consumer demand.
Investment highlights
- Net Operating Income: $220,075
- Size: 4,998 SF
- Occupancy: 100%
- Tenants: Noodles & Company, Mezeh Mediterranean Grill
- Weighted Avg. Lease Term: +8.25 years
- Rent Growth: 10% every 5 years
- Expense Recovery: NNN (Landlord roof and structure)
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