6709 Tryon StCharlotte, NC 28213

Property Details for 6709 Tryon St

Year built

1989

Lot size

0.75 AC

Property size (Sq ft)

3,410 SF

Zone code

TOD-TR

Property type

Banks

APN

8917245

APU

8917245

Description

This 3,410 square foot freestanding building, situated on a 0.76-acre lot in Charlotte, NC, presents a unique investment opportunity. Previously a bank branch, this vacant property offers versatile potential for various retail uses, including QSR, restaurant, or other commercial ventures. The property boasts a highly desirable location on a major retail corridor with over 30,000 vehicles passing daily, ensuring maximum visibility and exposure. Its convenient access to I-85 and proximity to national retailers like Ikea, Home Depot, Target, Walmart, and Lowe's further enhances its appeal. The site includes abundant onsite parking and a three-lane drive-thru, ideal for businesses requiring this feature. Built in 1989, the single-story building is zoned B-2, allowing for a wide range of permitted commercial uses. The property is part of a Family Dollar anchored center (93.7% leased according to Costar), providing a strong retail environment. This exceptional location, combined with its versatile features and high traffic count, makes this an outstanding opportunity for a savvy investor seeking a prime retail space in a thriving market. The asking price is $1,850,000.

• CAP approach

  CAP return

  Valuation

  6%

  $923,519

  6.5%

  $852,479

  7%

  $791,588

• Comparable approach

  Method

  Valuation

  Relative Method

  $600,547

  Geo Method

  $600,547

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,643,430

  Mixed-Use / Specialty

  $857,112

  Hospitality / Lodging

  $638,824

  Office

  $860,010

  Institutional / Educational

  $893,793

  Residential Income

  $1,045,740

  Multifamily

  $1,211,670

  Automotive / Energy

  $766,108

  Parking / Income-Based Land

  $256,795

  Restaurant / Food Service

  $462,164

  Healthcare / Senior Housing

  $871,085

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.28

Longitude

-80.7663

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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