The Shops at Harris Station
Retail | 31,678 SqFt
Marketing description
The Shops at Harris Station is strategically positioned in North Charlotte, an area poised for transformative growth driven by the Charlotte Red Line, a planned 25-mile commuter rail connecting Uptown Charlotte to northern Mecklenburg County and Mooresville via the Norfolk Southern O-Line corridor. Backed by a $1.38 billion investment as part of the region's $19.4 billion mobility plan, the Red Line will integrate with Charlotte Gateway Station and existing transit networks, alleviating congestion on I-77 and enhancing regional connectivity.
The property benefits from its position within Charlotte, a leading U.S. growth market with a 2.9M MSA, strong economic performance, and a deep employment base. The metro is anchored by major corporations including Bank of America, Wells Fargo, Duke Energy, Lowe's, and Honeywell. Charlotte Douglas International Airport, the 6th busiest airport in the nation, adds exceptional connectivity and supports ongoing business expansion.
The Shops at Harris Station is positioned along Old Statesville Road with 14K VPD and offers strong frontage and visibility. The property sits just off W W. T. Harris Blvd (36K VPD), which serves as a major connector for the surrounding trade area. With immediate access to regional thoroughfares, the site is less than two miles from I-77 and only a 15 minute drive to Uptown Charlotte.
Investment highlights
- Value-Add Potential Through Rental Upside: Near-term expirations and MTM tenants without renewal options present a clear path for an investor to restructure leases and capture significant upside. With all tenants currently on gross leases, there is substantial opportunity to transition the rent roll to triple-net (NNN) structures upon renewal or re-leasing, further enhancing NOI potential.
- Diversified Income: The Shops at Harris Station is supported by a highly diversified mix of local service, retail, and specialty operators. The absence of tenant concentration reduces cash flow risk and creates stability across the income stream, with no single tenant representing an outsized portion of the total rent.
- Strategic Positioning and High Visibility: The Shops at Harris Station is positioned along Old Statesville Road with 14K VPD and offers strong frontage and visibility. The property sits just off W W. T. Harris Blvd (36K VPD), which serves as a major connector for the surrounding trade area. With immediate access to regional thoroughfares, the site is less than two miles from I-77 and only a 15 minute drive to Uptown Charlotte.
- Strong Demographics: The property is supported by exceptionally strong surrounding demographics that continue to fuel retail performance. Within a 1-mile radius the average household income is $107K and the population has grown by 125% since 2000, highlighting the rapid expansion of northern Charlotte. The 5-mile trade area includes 167K residents, creating a deep and stable customer base that strengthens tenant performance and enhances future leasing potential.
- Transformative Growth Driven by the Charlotte Red Line: The Shops at Harris Station sits along the planned 25 mile Lynx Red Line, which will connect Uptown Charlotte to northern Mecklenburg County and Mooresville, and is supported by a $1.38 billion investment within the region's mobility plan. In March 2025, Harris Station was formally endorsed along Old Statesville Road, positioning the property to benefit from future transit access, increased foot traffic, and meaningful residential and commercial growth.
- Limited Surrounding Retail Creating a Competitive Advantage: The Shops at Harris Station is uniquely positioned within a primarily industrial and manufacturing corridor where retail options are limited, creating a natural competitive advantage by concentrating consumer demand and driving consistent traffic to the shops. This provides future ownership with an opportunity to capture unmet demand and further enhance tenancy over time.
- Booming High Growth Market: The property benefits from its position within Charlotte, a leading U.S. growth market with a 2.9M MSA, strong economic performance, and a deep employment base. The metro is anchored by major corporations including Bank of America, Wells Fargo, Duke Energy, Lowe's, and Honeywell. Charlotte Douglas International Airport, the 6th busiest airport in the nation, adds exceptional connectivity and supports ongoing business expansion.
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