2522 The PlzCharlotte, NC 28205

Property Details for 2522 The Plz

Year built

1965

Lot size

0.43 AC

Property size (Sq ft)

808 SF

Zone code

R-5

Property type

Car washes

APN

9502309

APU

9502309

Description

This exceptional 0.44-acre commercial property, located at 2522 The Plaza in Charlotte, North Carolina's vibrant Plaza Midwood neighborhood, presents a unique investment opportunity. Currently operating as a month-to-month leased tire store, the property boasts a rich history, having previously served as a gas station. All underground fuel tanks have been removed, opening the door to a wide array of potential uses. The General Commercial zoning allows for significant flexibility in redevelopment or continued operation as a retail space. Plaza Midwood is renowned for its eclectic atmosphere, blending historic charm with a trendy, modern feel. The area is characterized by its diverse mix of shops, restaurants, and entertainment venues, attracting both residents and visitors alike. This high-traffic location offers excellent visibility and accessibility, making it an ideal site for a variety of businesses. The asking price is $1,200,000. This property's prime location and versatile zoning make it a compelling investment in a rapidly growing and desirable area of Charlotte. The existing lease provides immediate income potential while allowing for future development plans. Don't miss this chance to acquire a piece of Charlotte's thriving commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $320,051

  6.5%

  $295,432

  7%

  $274,329

• Comparable approach

  Method

  Valuation

  Relative Method

  $344,803

  Geo Method

  $344,803

• Alternative Use

  Use

  Valuation

  Residential

  $249,208

  Hospitality

  $228,273

  Educational

  $189,920

  Medical

  $196,452

  Retail

  $295,432

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.2351

Longitude

-80.8045

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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