2221 Central AveCharlotte, NC 28205

  • Retail properties
  • 3,452 SF
For Lease

Property Details for 2221 Central Ave

Year built
1942
Lot size
0.34 AC
Property size (Sq ft)
3,452 SF
Zone code
NS
Property type
Retail properties
Property subtype
Turn key restaurants
APN
9507104
APU
9507104

Description

This exceptional 1.1-acre property at 2221 Central Avenue, located in the highly desirable Plaza Midwood submarket of Mecklenburg County, presents a unique investment opportunity. The site features a 1,800 square foot building, currently vacant, situated on a single tenancy lot. The property's NS zoning allows for a diverse range of development options, including neighborhood-oriented retail, service businesses, and high-density residential uses, making it ideal for multi-family, retail, or mixed-use projects. Its strategic location offers excellent visibility and accessibility, situated directly across from Veteran's Memorial Park and in close proximity to major transportation arteries such as I-277, I-77, and Highway 74. Plaza Midwood itself is a thriving community known for its historic charm, vibrant atmosphere, and a mix of trendy shops, acclaimed restaurants, and diverse entertainment venues. This area's consistent growth and increasing property values make this a compelling investment prospect for those seeking to capitalize on the neighborhood's popularity and future potential. Contact for pricing and further details.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,367,346
    6.5%
    $1,262,166
    7%
    $1,172,011
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,473,095
    Geo Method
    $1,473,095
  • Alternative Use

    Use
    Valuation
    Residential
    $1,064,684
    Hospitality
    $975,245
    Educational
    $811,392
    Medical
    $839,297
    Retail
    $1,262,166
2221 Central Ave, Charlotte, North Carolina

Location Insight

City
Charlotte
County
Mecklenburg
State
North Carolina
Latitude
35.2198
Longitude
-80.8031
CBSA code
16740
CBSA name
CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$8,148
$1,039,700
$71,100
$1,110,800
-
$1,039,700
$71,100
$1,110,800

FAQs

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