Charlotte, NC SunTrust Bank

7801 Pineville-Matthews Rd
Lease Type NNN
Cap Rate 5.50%
Property Type Freestanding Building
Building Size 2,067 SF
Land Area 1.1478 Acres
Property Highlights

Densely Populated Market: The subject property serves as an outparcel to Carmel Commons. The center is anchored by The Fresh Market, Pet Supplies Plus, Party City, Rite Aid, and numerous retailers & restaurants. The site sits directly on Pineville-Matthews Rd (Hwy 51) which serves as South Charlotte’s primary east/west thoroughfare carrying over 44,000 vehicles per day. South Charlotte is home to some of the city’s most affluent neighborhoods and highest density residential pockets.

Prominent Nashville Location: The Pineville-Matthews Rd and Johnston Rd corridor is one of Charlotte’s most competitive trade areas because of limited retail/commercial space. The benefits of the area include proximity to I-485 (1.4 Miles), the cities beltway which carries over 90k vehicles per day, the mere 10 mile distance from Uptown Charlotte, and the dense population of office, schools, and rooftops.

Quality Investment Opportunity: S. Charlotte is a top suburban Carolina’s market with high barriers to entry and increasing demand for residential housing and commercial goods and services, which gives the property significant underlying value. The lease is guaranteed by an investment grade tenant and was recently renewed for 10 years with no landlord responsivities and annual rent increases of 1.5 percent. for 10 years with no landlord responsivities and annual rent increases of 1.5 percent. renewed for 10 years with no landlord responsibilities and annual rent increases of 1.5 percent.

Charlotte is experiencing booming economic growth. Jobs are on the rise and unemployment is rapidly declining. With an increase by 3.5% in job growth in 2016, Charlotte is ranked as one of the fastest growing metros by Gross Domestic Product. Charlotte consistently ranks as top place for business and is characterized by wide variety of industries including Manufacturing, Finance and Banking, Healthcare and Logistics. More than 290 Fortune 500 firms are represented in the MSA and eight Fortune 500 Headquarters call the Charlotte region home.