3218 S Providence Rd - Retail FOR SALE


Waxhaw, NC 28173
$5,061,000 USD
980-498-3293
3218 S Providence Rd, Waxhaw, NC for Sale
$5,061,000 USD
Retail - FOR SALE
1/7
null | 5.75% Cap Rate

3218 S Providence Rd
Waxhaw, NC 28173


HIGHLIGHTS

  • DENSE RETAIL NODE
  • ATTRACTIVE LEASE FUNDAMENTALS
  • STRONG CREDIT TENANTS

OVERVIEW

ATTRACTIVE LEASE FUNDAMENTALS - Each Tenant has signed a new 10 years Lease and are corporate guarantees - Both leases have 2+ options remaining - Each lease provides 10% rental increases every 5 years in the base term and option periods providing a strong inflation hedge STRONG CREDIT TENANTS - Heartland Dental (1,800+ Locations) - Caribou Coffee (over 800 locations globally, part of Panera Brands backed by JAB Holding)— providing strong institutional backing and enhancing investment stability - Together, these tenants deliver a low risk of default and stabilized cash flow DENSE RETAIL NODE - Located along Providence Rd, a heavily trafficked corridor with strong visibility - Within a 1 mile radius is over 435K SF of retail space and a dense mix of grocery, QSR, and service oriented retail including Publix, Walgreens, and Harris Teeter - The property benefits from high daily traffic counts and established co-tenancy in the trade area SURROUNDED BY THOUSANDS OF NEW RESIDENTIAL UNITS - Over 6,500 new housing units are planned or recently delivered within a 3-mile radius - Waxhaw is one of the fastest-growing suburbs in the Charlotte MSA, attracting young families and professionals - Strong residential demand supports steady retail traffic and tenant performance with an AHHI within a 1-mile radius of the site exceeding $179K AFFLUENT MARKET OF CHARLOTTE MSA - This site resides within the rapidly expanding Charlotte–Concord–Gastonia MSA, one of the fastest-growing metro areas in the U.S. - Rapidly expanding town of Waxhaw, NC - AHHI exceeds $160K in a 1-mile radius - The Charlotte metro has surged by approximately 8.1 % since 2020, reaching around 2.88 million residents, well above the national growth rate of 2.6 % NEW CONSTRUCTION - This multi-tenant property is newly constructed with modern formats - Heartland Dental paid for its build-out with warranties in place - Caribou Coffee features a high-traffic drive-thru format designed for efficiency and convenience

FOR SALE DETAILS

PRICE

$5,061,000 USD

PRICE/SF

$844 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

-

STATUS

Proposed

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Heartland Dental & Caribou | Waxhaw, NC

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Fast Food, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

11.08 AC

LAND SF

482,645 SF

ZONING

-

APN/PARCEL ID

06-162-005-W

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.