2221 Central AveCharlotte, NC 28205

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

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,098,960

  6.5%

  $1,014,420

  7%

  $941,963

• Comparable approach

  Method

  Valuation

  Relative Method

  $607,944

  Geo Method

  $607,944

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,016,760

  Mixed-Use / Specialty

  $995,232

  Hospitality / Lodging

  $709,894

  Office

  $973,098

  Institutional / Educational

  $1,029,070

  Residential Income

  $1,204,020

  Multifamily

  $1,530,370

  Automotive / Energy

  $882,064

  Parking / Income-Based Land

  $319,776

  Restaurant / Food Service

  $484,391

  Healthcare / Senior Housing

  $1,036,560

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

FAQs

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