For Sale
$2,980,000

1501 Tryon StCharlotte, NC 28206

1.14-acre commercial lot, high-traffic area.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 1.14-acre commercial property, located at 1501 N Tryon St in Charlotte, NC (zip code 28206), presents a unique investment opportunity. Currently zoned ML-2, this site offers flexible usage potential and easy rezoning capabilities, particularly given the recent multi-family rezoning of adjacent properties. The property boasts a prime corner location at the well-lit intersection of Dalton Ave (9,500 vehicles per day) and N. Tryon St (21,500 vehicles per day), providing two convenient access points. Previously occupied by a 7-Eleven, the existing lease has approximately 1.9 years remaining (expiring 09/29/2026), with the tenant currently paying dark rent. This provides immediate cash flow potential or the option to terminate the lease early. All underground storage tanks and canopies have been removed. The property benefits from its proximity to thriving areas: approximately half a mile to Optimist Hall, one mile to Camp North End and Uptown Charlotte, and two miles to NoDa. The surrounding area demonstrates strong demographics, with a population of 121,000 within a three-mile radius and an average household income exceeding $105,000. Charlotte's robust economic growth, projected at a 45.2% job increase over the next decade, further enhances the investment appeal. The site's location within the rapidly developing North End/Optimist Park submarkets, characterized by significant recent and ongoing multi-family development (over 5,200 units delivered since 2019 within a one-mile radius, with 2,249 units currently under construction), underscores its long-term growth potential. The asking price for this fee-simple property is $2,980,000.

Highlights

  • 1.14-acre commercial lot at 1501 N Tryon St, Charlotte, NC (28206), currently generating dark rent from a 7-Eleven lease expiring 09/29/2026.
  • High-traffic corner location at the intersection of Dalton Ave (9,500 VPD) and N Tryon St (21,500 VPD), offering two access points.
  • Excellent redevelopment opportunity; ML-2 zoning allows flexible use and easy rezoning, especially given recent multi-family rezoning of adjacent properties. All underground storage tanks and canopies have been removed.
  • Strong demographics: 121,000 population and $105,000+ average household income within a three-mile radius.
  • Prime location near Optimist Hall (0.5 miles), Camp North End (1 mile), Uptown Charlotte (1 mile), and NoDa (2 miles).
  • High-growth market: Charlotte projects 45.2% job growth over the next decade and experienced significant population growth recently.

Property Details for 1501 Tryon St

Property type
Retail properties, Land
Lot Size (sq. ft)
49,658 SF

Location Insight

City
Charlotte
County
Mecklenburg
State
North Carolina
Latitude
35.23901954
Longitude
-80.82764781
1501 Tryon St, Charlotte, North Carolina

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1501 Tryon St
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