Value-Add Industrial near Downtown | 2528-2532 Lucena St
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Value-Add Industrial near Downtown 2528-2532 Lucena St
19,740 SF Vacant Industrial Building Online Auction Sale Charlotte, NC 28206
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Investment Highlights
- Vacant industrial asset comprising over 19,000 SF across multiple buildings, situated on a spacious 0.82-acre lot just north of Downtown Charlotte.
- Rapidly growing 10-mile population north of 785,000 residents w/ a strong average household income above $93,250 & auto repair spending above $295M.
- Located less than 1 mile from Interstates 77 and 277 and less than 2 miles from Interstate 85.
- Strong value-add upside through owner occupancy or through lease-up in an emerging industrial market just off the Interstate 85 Industrial Corridor.
- Positioned within a federally designated Opportunity Zone, allowing potential tax benefits to investors.
- Contains Paint Booth and 2 lifts
Executive Summary
Team Charlotte Realty & Brokerage is pleased to present a value-add investment offering on Ten-X to acquire a multi-building industrial asset with prime positioning in northern Charlotte, North Carolina. 2528-2532 Lucena Street in Charlotte, North Carolina, was delivered in 1958 on a 0.82-acre lot with I2 (general industrial) zoning. The property was previously home to an auto shop, and this asset caters well to an owner/user or an investor looking to lease space in an evolving southern metro. 2528-2532 Lucena Street totals 19,240 square feet of warehouse and work space, and there is a Paint Booth and 2 Automotive Lifts. The Property includes 3 Drive-In doors and 1 Dock-High door. There are 4 buildings buildings and lots of possibilities for an owner to occupy or lease out space.
2528-2532 Lucena Street sits just off N Graham Street, a primary corridor connecting to Downtown Charlotte in less than 10 minutes. N Graham Street sees approximately 15,000 vehicles passing by daily, giving the property great exposure. The property is less than 1 mile from Interstates 77 and 277 and the heavily trafficked Interstate 85 Industrial Corridor is just 2 miles away.
The surrounding 10-mile radius is home to a burgeoning population of more than 785,000 residents. This demographic is highly educated with at least 40% having a bachelor's degree or higher, and the median age is a lively 35-years-old. The 10-mile population has a strong average household income above $93,250 with total specified consumer spending in excess of $9.5 billion, with over $295 million comprising auto maintenance and repair. An investor or an owner/user will have little trouble finding skilled labor as the trade, transportation & utilities work field has over 71,100 workers.
2528-2532 Lucena Street in Charlotte, North Carolina is a prime industrial investment with a strong value-add upside and a strategic location near multiple interstates and Downtown Charlotte.
2528-2532 Lucena Street sits just off N Graham Street, a primary corridor connecting to Downtown Charlotte in less than 10 minutes. N Graham Street sees approximately 15,000 vehicles passing by daily, giving the property great exposure. The property is less than 1 mile from Interstates 77 and 277 and the heavily trafficked Interstate 85 Industrial Corridor is just 2 miles away.
The surrounding 10-mile radius is home to a burgeoning population of more than 785,000 residents. This demographic is highly educated with at least 40% having a bachelor's degree or higher, and the median age is a lively 35-years-old. The 10-mile population has a strong average household income above $93,250 with total specified consumer spending in excess of $9.5 billion, with over $295 million comprising auto maintenance and repair. An investor or an owner/user will have little trouble finding skilled labor as the trade, transportation & utilities work field has over 71,100 workers.
2528-2532 Lucena Street in Charlotte, North Carolina is a prime industrial investment with a strong value-add upside and a strategic location near multiple interstates and Downtown Charlotte.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Charlotte - NC USA
Market Cap Rate
Charlotte - NC USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Amenities
- Fenced Lot
- Signage
DEMOGRAPHICS
Regional Accessibility
CITY
POPULATION
MILES
DRIVE TIME
Charlotte
872,498
3
0 h 7 m
Jacksonville
903,889
381
7 h 6 m
Washington
702,455
396
7 h 37 m
Columbus
892,533
427
8 h 15 m
Philadelphia
1,584,138
533
10 h 33 m
Indianapolis
867,125
567
10 h 59 m
ACCESS AND LABOR FORCE
10 MILES
Total Population
746,046
Total Labor Force
449,617
Unemployment Rate
3.52%
Median Household Income
$67,297
Warehouse Employees
63,468
High School Education Or Higher
89.70%
PROPERTY TAXES
| Parcel Number | 079-073-07 | Improvements Assessment | $213,900 |
| Land Assessment | $632,700 | Total Assessment | $846,600 |
PROPERTY TAXES
Parcel Number
079-073-07
Land Assessment
$632,700
Improvements Assessment
$213,900
Total Assessment
$846,600
zoning
| Zoning Code | I2 (General Industrial) |
| I2 (General Industrial) |
Sale Advisors
Sale Advisors
Steven Bush
(404) 276-7441
Contact
Steven's goal as a real estate agent is to provide all of his clients with the best service possible. As a licensed Real Estate Agent with Virtual Properties Realty Steven has many company resources and tools that help him to fully service all of his client’s needs in the utmost professional way. VPR is a high tech, state-of-the-art firm. They pride themselves in offering the best and most advanced technology. In 2019 VPR celebrated its 20th year as a real estate brokerage with over 3,200 agents and 17 office locations. Over the past 20 years, VPR has earned many awards which include the coveted AJC “Best Place to Work” (three years in a row). VPR and Steven are successful because they work hard to earn their client’s business and trust.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
John Artozqui
Contact
Ten-X Licensing:
Ten-X, LLC Samantha Corbat RE Brkr C34060. Ten-X, LLC Auction Firm 10478. NCALB Disclosure: Broker Contact is the Seller’s Real Estate Listing Agent providing real estate services only. Broker Contact is not acting as an Auctioneer.
Contacts
-
Team Charlotte Realty & Brokerage William Foster -
Steven Bush
- Team Charlotte Realty & Brokerage
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Team Charlotte Realty & Brokerage
Value-Add Industrial near Downtown | 2528-2532 Lucena St
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Value-Add Industrial near Downtown | 2528-2532 Lucena St
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