1513-1521 S Mint St
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1513-1521 S Mint St
12,288 SF 100% Leased Retail Building Charlotte, NC 28203 $7,217,000 ($587/SF) 6% Cap Rate
Investment Highlights
- Dense, Affluent & Booming Demographics
- Experienced Multi-Unit Operators
- Heart of South Edn's Gold District
- Annual 3% Rent Growth From Each Tenant
Executive Summary
1515 S Mint Street is in the heart of South End's Gold District, one of the fastest growing sub-markets in the nation. Within a 1-mile radius of the asset there are over 20K people boasting average household incomes more than $140K. The annual population growth rate over the next 5-years is over 7% within 1-mile. The rent roll is comprised of 100% multi-unit operators and service-oriented tenant concepts. The site is surrounded by thousands of existing, recently delivered, and under construction apartments and is less than 10-minutes walking distance from the Bland St Station of the Light Rail and a 15-minute walk to Bank of America Stadium. Ownership completed a major overhaul renovation of 1515 S Mint St replacing the entire roof, which carries an assignable 20-year manufacturer’s warranty, as well as new walls, floors, windows, etc. Ownership was able to maintain some of the properties historic brick.
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Property Facts
Sale Type
Investment NNN
Property Type
Building Size
12,288 SF
Building Class
B
Year Built/Renovated
1946/2021
Price
$7,217,000
Price Per SF
$587
Cap Rate
6%
NOI
$433,044
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.54
Land Acres
0.52 AC
Zoning
TO-NC(HDO)
Walk Score ®
Very Walkable (75)
Bike Score ®
Very Bikeable (72)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 119-083-15 | Improvements Assessment | $669,400 |
Land Assessment | $568,200 | Total Assessment | $1,237,600 |
PROPERTY TAXES
Parcel Number
119-083-15
Land Assessment
$568,200
Improvements Assessment
$669,400
Total Assessment
$1,237,600
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1513-1521 S Mint St
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