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Browse More Listings in Shopping Center For Sale, Charlotte, NC or North Carolina

Shopping Center For Sale

Tower Place Festival

8700 Pineville Matthews Road, Charlotte, NC 28226

Price:
$15,000,000
Gross Leasable Area:
114,876 SF
Price/SF:
$130.58
Property Type:
Shopping Center
Property Sub-type:
Community Center
Property Use Type:
Investment
Commission Split:
0.5%
Cap Rate:
8.29%
Occupancy:
70%
No. Stories:
1
Tenancy:
Multiple
Year Built:
1985
Lot Size:
10.77 AC
Find Out More...

Last Verified 10/22/2009 Listing ID 16231432

Highlights

Strong regional position located near Interstate-77 and Interstate-485
Access to all mature neighborhoods of south Charlotte via Pineville-Matthews Road and Park Road
Below-market rents and current occupancy offers tremendous upside to investors

Surrounded by regional shopping destinations including Carolina Place Mall
Strong daytime population with growing office and medical facilities nearby
Ideal demographics surrounded by dense populations with high average household income

Description

Tower Place Festival is a 114,876 SF community center located in the Pineville trade area of Charlotte, NC. Anchored by Bally' s Total Fitness, there is tremendous opportunity to enhance the value of Tower Place Festival by leasing the existing shop space vacancies.

Tower Place Festival is ideally positioned on Pineville-Matthews Road in a hub of regional shopping attractions including Carolina Place Mall, Charlotte' s largest regional mall. The shopping center benefits from close proximity to I-485 and I-77 and is located in one of the most affluent areas in the Charlotte region.

Financial Summary

Actual
Net Operating Income
$1,243,500

Map of 8700 Pineville Matthews Road, Charlotte, NC 28226 (Mecklenburg County)

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Presented by

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Contact Listing Broker

Steve Shields (704) 331-1284

Mike Burkard (704) 331-1205

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Created 5/11/2009

Additional Information for 8700 Pineville Matthews Road, Charlotte, NC 28226

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 1 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.

Comparable Properties for 8700 Pineville Matthews Road, Charlotte, NC 28226

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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.

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Shopping Center Property For Sale - Tower Place Festival

8700 Pineville Matthews Road, Charlotte, NC, 28226