120 Myers StCharlotte, NC 28202

Property Details for 120 Myers St

Lot size

0.53 AC

Zone code

UMUD

Property type

Office properties

Property subtype

Office buildings

APN

8009802

APU

8009802

Description

This exceptional 0.5-acre land parcel, located at 120 N Myers Street in Charlotte, North Carolina (zip code 28202), presents a unique investment opportunity. Situated in Mecklenburg County, this property boasts a highly desirable MUDD zoning designation, opening doors to a diverse range of development possibilities. The asking price is $3,000,000, translating to a land value of $6,000,000 per acre, reflecting the prime location and development potential. Permitted uses under the MUDD zoning include office, retail, data center, multifamily residential, and build-to-suit projects, offering significant flexibility for developers. The property's central location within Charlotte provides easy access to major transportation arteries, amenities, and a thriving business community. With its strategic location and versatile zoning, this 0.5-acre site is ideally suited for investors seeking a high-return development project in a rapidly growing urban area. The latitude and longitude coordinates are 35.221643 and -80.834887 respectively, allowing for precise location identification and mapping. This is a rare opportunity to acquire a prime development site in a highly sought-after area of Charlotte.

• CAP approach

  CAP return

  Valuation

  6%

  $6,309,788

  6.5%

  $5,824,420

  7%

  $5,408,390

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,890,925

  Geo Method

  $3,890,925

• Alternative Use

  Use

  Valuation

  Residential

  $7,222,281

  Hospitality

  $6,615,570

  Educational

  $5,504,077

  Medical

  $5,693,371

  Retail

  $8,561,898

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.2217

Longitude

-80.8349

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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