200 24Th StCharlotte, NC 28206

Property Details for 200 24Th St

Year built

1995

Lot size

0.55 AC

Property size (Sq ft)

10,520 SF

Zone code

I-2

Property type

Industrial properties

APN

7909215

APU

7909215

Description

This 10,520-square-foot warehouse in Charlotte, North Carolina, is available for $1,550,000 ($147 per square foot). The property sits on approximately 0.55 acres and is zoned Heavy Industrial (ML-2), located within an Opportunity Zone. The building comprises 9,211 square feet of warehouse space and 1,309 square feet of office space. Access is provided by one drive-in door, one dock-high door, and one van-high door. The property is currently vacant. It's important to note that previous inspections revealed structural issues. The asking price has been adjusted to reflect the estimated cost of necessary repairs. Detailed structural engineering reports, construction cost estimates for repairs, environmental studies, and surveys are available upon request. The seller intends to donate a portion of the proceeds from the sale to a non-profit organization at closing; further details are available. This presents a unique redevelopment opportunity in a prime Charlotte location. The property's zoning and location within an Opportunity Zone offer significant potential for investors.

• CAP approach

  CAP return

  Valuation

  6%

  $5,785,010

  6.5%

  $5,340,010

  7%

  $4,958,580

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,850,330

  Geo Method

  $2,850,330

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $2,731,040

  Mixed-Use / Specialty

  $2,715,570

  Hospitality / Lodging

  $1,984,850

  Office

  $2,693,450

  Institutional / Educational

  $2,821,040

  Residential Income

  $3,300,620

  Multifamily

  $3,990,410

  Automotive / Energy

  $2,418,040

  Parking / Income-Based Land

  $840,107

  Restaurant / Food Service

  $1,400,140

  Healthcare / Senior Housing

  $2,790,650

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.2448

Longitude

-80.8229

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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