For Sale
$7,217,000

1515 Mint StCharlotte, NC 28203

High-yield, multi-tenant retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Class A, multi-tenant storefront property at 1515 S Mint St, Charlotte, NC 28203, presents a compelling investment opportunity. Boasting 12,288 square feet on a 0.511-acre lot, this stabilized investment features three tenants with a 100% occupancy rate and a remaining lease term of 6.4 years. The property, built in 1946 and extensively renovated in 2020 (including a new roof with a 20-year warranty), benefits from a strong NOI of $433,044 and a 6.00% cap rate, with an asking price of $7,217,000 ($587.32/sq ft). The tenant mix comprises primarily food and beverage establishments (78% of GLA) and a regional orthodontist (22% of GLA), all experienced multi-unit operators with proven track records across the Carolinas. Located in the heart of South End's Gold District, this property enjoys excellent walkability, proximity to thousands of apartments, and is less than a 10-minute walk from the Bland St Light Rail Station and a 15-minute walk from Bank of America Stadium. The property benefits from a dense, affluent, and rapidly growing demographic area, with over 20,000 people within a 1-mile radius boasting average household incomes exceeding $140,000 and a projected 7%+ annual population growth over the next five years. All leases include contractual 3% annual rent increases, providing a built-in hedge against inflation. This is a rare opportunity to acquire a high-performing, well-located retail asset in one of the nation's fastest-growing submarkets. The NNN lease structure further minimizes landlord responsibilities.

Highlights

  • 12,288 SF Class A multi-tenant retail building on a 0.51-acre lot in Charlotte, NC's South End.
  • 100% occupancy with three tenants, primarily food & beverage (78% of GLA) and a regional orthodontist (22% of GLA), all with proven track records.
  • Recently renovated (2020) with a new roof (20-year warranty), offering a strong NOI of $433,044 and a 6.00% cap rate.
  • Excellent location in the Gold District, near apartments, the Bland St Light Rail Station, and Bank of America Stadium.
  • Strong demographics: over 20,000 people within a 1-mile radius, average household income exceeding $140,000, and projected 7%+ annual population growth.
  • All leases include 3% annual rent increases, providing inflation protection.

Property Details for 1515 Mint St

Property type
Retail properties, Retail space
Square Feet
12,288 SF
Class
A
Year Built/Renovated
1946/2020
Lot Size (sq. ft)
22,259 SF

Location Insight

City
Charlotte
County
Mecklenburg
State
North Carolina
Latitude
35.218785919399
Longitude
-80.861337247029
1515 Mint St, Charlotte, North Carolina

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1515 Mint St
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