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Charlotte, NC -Multifamily Site -Fronts I-485 Exit
4800 Stallings Road, Matthews, NC 28105
Last Verified 11/20/2009
Listing ID 14551413
Highlights
Prime development location for visiblity and access, with county water and sewer available- This section of I-485 recently completed, igniting growth & development in area
- Charlotte is largest city in NC and has a robust economy -- considered one of top markets in US
- Would be excellent site for 220+/- unit multifamily project
- Market analyses show low vacancy rate and few future multifamily competitors in this site's market
Description
Prime development opportunity for potential multifamily project on the East side of Charlotte, NC beltway. Submarket has low stabilized vacancy rate (about 8%) and few new projects in pipeline. Entitlement to R-12MF zoning could allow 220+/- units on site.
The Site fronts on I-485 at Idlewild Rd Exit and has excellent visibility/access. Controls prime Highway frontage from Idlewild Rd 2000' toward Independence Blvd. Includes extra land on Southern boundary along I-485 that is valuable for storm water mgt, utilities, signage, open space & density. 4+/- acres of adjacent land also separately available for total of 19+/- acres.
New development and amenities nearby include the recently developed "Idlewild Market" with Lowes Foods, Wachovia, Rite Aid and other retail and services also at this exit. Plus large super-regional "Bridges of Mint Hill" shopping mall to be built just one Exit north and proposed "Monroe Bypass" to be built nearby in next few years. Also, several hundred acres of nature preserve and parkland are within walking distance of the site. County water & sewer available at property.
Available at $2,450,000. Broker-owner.
The site is located at the Idlewild Road Exit on I-485 on the East side of Charlotte, NC, in the SW quadrant of Exit 49 (with I-485 running North-South at this interchange). Consisting of three assembled parcels, this site has over 2,000 feet of frontage on I-485, approximately 170 feet of frontage and access on Idlewild Road and a total of approximately 950 feet of frontage and access on Stallings Road.
The property has quick access to Independence Boulevard and Uptown Charlotte, the rest of South Charlotte, University City, the Speedway and also the I-85 and I-77 corridors. Explosive growth in this area with new mall and vibrant South Charlotte market. Also, because of environmental constraints at interchanges North of the site, this location is likely to be one of only a few that could be developed as a multifamily project for many miles on I-485.
Map of 4800 Stallings Road, Matthews, NC 28105 (Mecklenburg County)
Created 3/23/2006
Additional Information for 4800 Stallings Road, Matthews, NC 28105
- Active For Sale - 1 Listing
- Active For Lease - 0 Listing
- Previously Listed - 0 Historic Listing
- Sales Comparables Available - 0 RecentSales Record
View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.