2741 Sugar Creek RdCharlotte, NC 28262

Property Details for 2741 Sugar Creek Rd

Year built

1965

Lot size

0.43 AC

Property size (Sq ft)

5,802 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This 5,802 square foot shopping center in Charlotte, NC presents a compelling value-add opportunity. Located at 2741 W Sugar Creek Rd in the rapidly developing Derita area, this single-story, 1965-built property sits on a 0.432-acre lot and is zoned B-2. Currently housing four tenants, the property generates an annual net operating income (NOI) of $48,000, representing a 4.36% capitalization rate. However, a pro-forma analysis suggests a significant upside. With current rents averaging approximately $8.50 per square foot, repositioning the property to market rents of $15 per square foot could yield a pro-forma NOI of $87,030 and a 7.91% cap rate. The asking price is $1,100,000, or $189.59 per square foot. The property features a modified lease structure and is suitable for owner-user investment. Potential buyers are encouraged to conduct their own due diligence and financial projections. This property offers significant potential for increased profitability in a high-growth area. The property's current income stream provides a solid foundation for future value appreciation.

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.2998

Longitude

-80.8016

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