1515 Mint StCharlotte, NC 28203

Property Details for 1515 Mint St

Year built

1946

Lot size

0.17 AC

Property size (Sq ft)

6,800 SF

Zone code

I1

Property type

Retail properties

Property subtype

Retail space

APN

11908316

APU

11908316

Description

This exceptional Class A, multi-tenant storefront property at 1515 S Mint St, Charlotte, NC 28203, presents a compelling investment opportunity. Boasting 12,288 square feet on a 0.511-acre lot, this stabilized investment features three tenants with a 100% occupancy rate and a remaining lease term of 6.4 years. The property, built in 1946 and extensively renovated in 2020 (including a new roof with a 20-year warranty), benefits from a strong NOI of $433,044 and a 6.00% cap rate, with an asking price of $7,217,000 ($587.32/sq ft). The tenant mix comprises primarily food and beverage establishments (78% of GLA) and a regional orthodontist (22% of GLA), all experienced multi-unit operators with proven track records across the Carolinas. Located in the heart of South End's Gold District, this property enjoys excellent walkability, proximity to thousands of apartments, and is less than a 10-minute walk from the Bland St Light Rail Station and a 15-minute walk from Bank of America Stadium. The property benefits from a dense, affluent, and rapidly growing demographic area, with over 20,000 people within a 1-mile radius boasting average household incomes exceeding $140,000 and a projected 7%+ annual population growth over the next five years. All leases include contractual 3% annual rent increases, providing a built-in hedge against inflation. This is a rare opportunity to acquire a high-performing, well-located retail asset in one of the nation's fastest-growing submarkets. The NNN lease structure further minimizes landlord responsibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $3,300,472

  6.5%

  $3,046,589

  7%

  $2,828,976

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,901,810

  Geo Method

  $2,901,810

• Alternative Use

  Use

  Valuation

  Residential

  $2,569,912

  Hospitality

  $2,354,026

  Educational

  $1,958,522

  Medical

  $2,025,878

  Retail

  $3,046,589

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.2186

Longitude

-80.8611

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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