8831 Albemarle RdCharlotte, NC 28227

Property Details for 8831 Albemarle Rd

Year built

2024

Lot size

0.72 AC

Property size (Sq ft)

3,575 SF

Property type

Healthcare properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 3,575 square foot medical office building in Charlotte, North Carolina. The property boasts a strong 10-year net lease with Aspen Dental Management, Inc., a nationally recognized corporate tenant with over 1,041 locations. The lease commenced July 2, 2024, and features 8% rent bumps every five years, ensuring consistent income growth. Situated on a 0.72-acre lot with 24 parking spaces, the building enjoys excellent visibility on Albemarle Road, a high-traffic area with 31,500 vehicles per day. Its prime location is directly across from a major retail center anchored by Lowe's and Target, offering over 266,269 square feet of retail space. The property benefits from a dense population base, with approximately 250,000 residents within a 15-minute drive and 1.6 million square feet of retail space within a one-mile radius. The building's proximity to major healthcare facilities, educational institutions (including the University of North Carolina Charlotte), and numerous popular retail destinations further enhances its appeal. The property's strong tenant, favorable lease terms, and strategic location make it an ideal investment for those seeking stable, long-term returns in a thriving market. The building was constructed in 2024 and offers a 6.15% cap rate with a net operating income (NOI) of $183,219. The asking price is $2,979,000. Lease options include 3 and 5-year extensions.

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.211

Longitude

-80.6969

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