519 Armour DrCharlotte, NC 28206

Property Details for 519 Armour Dr

Year built

1956

Lot size

0.84 AC

Property size (Sq ft)

16,281 SF

Zone code

I-2

Property type

Warehouses

APN

7901728

APU

7901728

Description

This exceptional 16,281-square-foot industrial property, situated at 519 Armour Dr. in Charlotte, NC 28206, presents a unique investment opportunity. The single-story building, zoned ML-2, sits on a 0.834-acre lot and boasts a blend of warehouse and flex space functionality. Features include three loading docks and one dock-high door, ideal for efficient material handling. The interior features a wood plank ceiling with steel joists and an interior dock well. This infill property benefits from its strategic location near the burgeoning Camp North End development, providing excellent access to a thriving commercial hub. The property's potential extends beyond its current footprint; there's an opportunity to expand the acreage by potentially abandoning adjacent streets. Furthermore, this property is available for sale as a fully operational cabinet shop, complete with all fixtures, fittings, and equipment. Detailed pricing and a comprehensive equipment list are available upon request. This is a rare chance to acquire a well-located, versatile industrial space with significant growth potential in a rapidly developing area of Charlotte.

• CAP approach

  CAP return

  Valuation

  6%

  $8,953,020

  6.5%

  $8,264,320

  7%

  $7,674,010

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,411,240

  Geo Method

  $4,411,240

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $4,226,630

  Mixed-Use / Specialty

  $4,202,680

  Hospitality / Lodging

  $3,071,800

  Office

  $4,168,450

  Institutional / Educational

  $4,365,910

  Residential Income

  $5,108,120

  Multifamily

  $6,175,660

  Automotive / Energy

  $3,742,210

  Parking / Income-Based Land

  $1,300,170

  Restaurant / Food Service

  $2,166,880

  Healthcare / Senior Housing

  $4,318,880

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.2416

Longitude

-80.8323

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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