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.