900 Mcdowell StCharlotte, NC 28204

Property Details for 900 Mcdowell St

Year built

1972

Lot size

1.25 AC

Property size (Sq ft)

20,058 SF

Zone code

B-2

Property type

Office properties

Property subtype

Office buildings

APN

12517301

APU

12517301

Description

This exceptional 1.29-acre site at 900 S McDowell St in Charlotte, NC (zip code 28204), presents a unique mixed-use development opportunity. The property, encompassing 1 square foot of building space, is strategically positioned adjacent to The Pearl Innovation District, a burgeoning multi-purpose development project. This prime location offers unparalleled access to a rapidly expanding medical and research hub. Across the street sits the Atrium Wake Forest Baptist Health Medical School, projected to accommodate up to 400 medical students. The Pearl Innovation District itself will house a medical school, research and education facilities, retail spaces, professional offices, and residential units, creating a vibrant and dynamic community. The presence of IRCAD, a French Surgical Institute establishing its US headquarters at The Pearl, is anticipated to attract thousands of medical professionals to Charlotte annually. The Pearl's projected job creation of up to 5,500 positions upon completion further underscores the significant growth potential of this area and the exceptional investment opportunity presented by this 1.29-acre site. This property is ideally suited for a variety of uses, including restaurant, medical office, and apartment building development, given its zoning and proximity to key amenities and infrastructure. The site's location offers excellent visibility and accessibility, making it an attractive proposition for developers seeking to capitalize on the burgeoning growth of Charlotte's medical and innovation sectors.

• CAP approach

  CAP return

  Valuation

  6%

  $6,622,734

  6.5%

  $6,113,294

  7%

  $5,676,630

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,396,622

  Geo Method

  $3,396,622

• Alternative Use

  Use

  Valuation

  Residential

  $7,580,484

  Hospitality

  $6,943,682

  Educational

  $5,777,062

  Medical

  $5,975,744

  Retail

  $8,986,541

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.2149

Longitude

-80.8438

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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