Infill Charlotte - 2nd Generation Restaurant | 1500-1502 Central Ave
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Infill Charlotte - 2nd Generation Restaurant 1500-1502 Central Ave
5,420 SF 16% Leased Retail Building Charlotte, NC 28205 For Sale
Investment Highlights
- HIGHLY WALKABLE AND AMENITIES PLAZA MIDWOOD NEIGHBORHOOD
- DIRECTLY NEXT DOOR TO THE COMMONWEALTH DEVELOPMENT
- FLEXIBLE ZONING
Executive Summary
HIGHLY WALKABLE AND AMENITIES PLAZA MIDWOOD NEIGHBORHOOD
- Plaza Midwood has a 82 walkable score with over 8.5K homes in a 1-mile radius
- Wide variety of local restaurants, bars, and shops are located in the area
- Plaza Midwood has recently become Charlotte’s first “Social District” allowing for to-go drinks in the streets
DENSE AND AFFLUENT SURROUNDING DEMOGRAPHICS
- 1-mile demographics include an AHHI of $146,239 and a population of 15,821 (1.34% annual growth rate since 2020)
- Just under 4,500 multifamily units within a one mile radius
LOCATED IN THE HEART OF CHARLOTTE, NC
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
DIRECTLY NEXT DOOR TO THE COMMONWEALTH DEVELOPMENT
- Spanning 12-acres, Commonwealth will deliver 100k SF of retail, 383 residences, a boutique hotel, and over 400,000 SF of Class A office space in the heart of the Plaza Midwood neighborhood.
FLEXIBLE ZONING
- The property has been rezoned to MUDD-O (Mixed Use Development District) allowing for more flexible building use than surrounding properties
2ND GENERATION RESTAURANT SPACE
- Restaurant infrastructure still in place minimizing out-of-pocket build out expenses for prospective restaurant users
- Plaza Midwood has a 82 walkable score with over 8.5K homes in a 1-mile radius
- Wide variety of local restaurants, bars, and shops are located in the area
- Plaza Midwood has recently become Charlotte’s first “Social District” allowing for to-go drinks in the streets
DENSE AND AFFLUENT SURROUNDING DEMOGRAPHICS
- 1-mile demographics include an AHHI of $146,239 and a population of 15,821 (1.34% annual growth rate since 2020)
- Just under 4,500 multifamily units within a one mile radius
LOCATED IN THE HEART OF CHARLOTTE, NC
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
DIRECTLY NEXT DOOR TO THE COMMONWEALTH DEVELOPMENT
- Spanning 12-acres, Commonwealth will deliver 100k SF of retail, 383 residences, a boutique hotel, and over 400,000 SF of Class A office space in the heart of the Plaza Midwood neighborhood.
FLEXIBLE ZONING
- The property has been rezoned to MUDD-O (Mixed Use Development District) allowing for more flexible building use than surrounding properties
2ND GENERATION RESTAURANT SPACE
- Restaurant infrastructure still in place minimizing out-of-pocket build out expenses for prospective restaurant users
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
5,420 SF
Building Class
C
Year Built/Renovated
1932/2024
Percent Leased
16%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
11’
Building FAR
1.56
Lot Size
0.08 AC
Zoning
MUDD-0 - Mixed-Use Development District
Parking
20 Spaces (3.69 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Corner Lot
- Freeway Visibility
- Restaurant
- Signage
- Signalized Intersection
- Roof Terrace
- Balcony
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1st Floor
- 2,727 SF
- Retail
- -
- Now
- 2nd Floor
- 1,831 SF
- Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 2,727 SF | Retail | - | Now |
| 2nd Floor | 1,831 SF | Retail | - | Now |
1st Floor
| Size |
| 2,727 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 1,831 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
Walk Score ®
Very Walkable (85)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 081-176-51 | Improvements Assessment | $1,095,700 |
| Land Assessment | $339,800 | Total Assessment | $1,435,500 |
PROPERTY TAXES
Parcel Number
081-176-51
Land Assessment
$339,800
Improvements Assessment
$1,095,700
Total Assessment
$1,435,500
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Infill Charlotte - 2nd Generation Restaurant | 1500-1502 Central Ave
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