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IBM Dr
Charlotte, NC 28262
Innovation Park Multifamily · Land For Sale
·
12.20 AC
Investment Highlights
- Zoned and site plan approved for up to 200 multifamily units, minimizing entitlement risk.
- Unmatched connectivity being 2 miles from I-85 and 4.5 miles from I-485.
- Close to major lifestyle and transit amenities including IKEA, light rail, and Concord Mills Mall.
- Walkable to Innovation Park campus featuring 1.9 million SF of office space and 7,000 employees.
- Adjacent to University Research Park, encompassing 11.5 million SF of office space and a workforce exceeding 80,000.
- Vanguard’s 700,000 SF campus relocation bringing 2,400 employees within proximity to the site.
Executive Summary
The location provides exceptional connectivity, with quick access to Interstate 85 (2 miles) and I-485 (4.5 miles), facilitating convenient commutes throughout the Charlotte metro region. Nearby points of interest include the University of North Carolina at Charlotte (8 minutes), Uptown Charlotte (15 minutes), Belgate Shopping Center featuring IKEA (5 minutes), a light rail station (6 minutes), Shoppes at University Place (9 minutes), and Concord Mills Mall (12 minutes).
University City continues to demonstrate strong multifamily fundamentals supported by robust renter demand and proximity to leading employers such as Vanguard, IBM, TIAA, Duke Energy, and Wells Fargo. Current comparable communities achieve average asking rents of $1,721 ($1.92/SF), reinforcing the area’s long-term stability and development potential.
Property Facts
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Proposed Use | Multifamily |
| Property Type | Land | Total Lot Size | 12.20 AC |
| Zoning | UR-2 - Residential | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 12.20 AC |
| Zoning | UR-2 - Residential |
1 Lot Available
Lot
| Lot Size | 12.20 AC |
| Lot Size | 12.20 AC |
panning 12.203 acres, the site is fully zoned UR-2 (CD) and site plan approved for up to 200 units with allowance for structures up to 65 feet. Located at the intersection of IBM Drive and Catalyst Boulevard.
Description
The property consists of 12.203 acres at IBM Drive and Catalyst Boulevard in northeast Charlotte and is zoned UR-2 (CD) with a maximum allowable height of 65 feet. It is site plan approved for up to 200 units. The location is adjacent to a 200-acre, 1.9 million-square-foot office campus and near University Research Park with 11.5 million square feet across more than 2,000 acres. Access to Interstate 85 and Interstate 485 is approximately 2 miles and 4.5 miles, respectively. The University of North Carolina at Charlotte is 8 minutes away, and Uptown Charlotte is about 15 minutes away. Nearby amenities include Belgate Shopping Center, a light rail station, and Concord Mills Mall.
Property Taxes
| Parcel Number | 047-112-07 | Improvements Assessment | $0 |
| Land Assessment | $1,772,000 | Total Assessment | $1,772,000 |
Property Taxes
