230 Fairwood
230 Fairwood Ave, Charlotte, North Carolina
+/- 4,000 SF for Sale.
This site features a turn-key, +/- 6,930 SF restaurant space across three levels with an iconic storefront in Uptown Charlotte. Rebel Rebel Urban Retail Advisors is pleased to present the opportunity to acquire 230 Fairwood Avenue, a 4,006 RSF, free-standing, adaptive re-use property in Charlotte’s booming South End neighborhood. Originally built in 1978 and redeveloped from 2018 - 2019, this former service station is symbolic of South End’s remarkable transformation from a former industrial corridor into one of the most sought-after urban-lifestyle destinations in the Southeast.
The property is fully occupied by a single lease with 9+ years of term remaining and healthy in-place rents. South End’s increasing tenant demand for free-standing, adaptive re-use product with convenient walkability and light rail proximity will continue to put upward pressure on market rental rates resulting in long-term values continuing to outpace in-place lease escalations, providing investors with the rare opportunity to secure a highly sought-after position in one of the hottest corridors in the country.
South End is one of the most highly desired, dynamic neighborhoods in the United States. The LYNX light-rail, located just two blocks from the property, was a catalyst for the growth and continued success of South End and defines 230 Fairwood Ave as a pedestrian friendly and transit-oriented destination. The walkability and variety of retail businesses in the Fairwood Ave corridor make it a haven for consumers seeking a mix of offerings.
The Property sits on 0.172 acres with TOD-UC (Transit Oriented Destination – Urban Center) zoning designation, the most accommodating and highest density designation among the TOD zoning districts. Building heights are permissible up to 130 feet, with taller buildings potentially reaching 300 feet through a height bonus. The property offers long-term cash flow but also presents future redevelopment opportunities as the area continues to grow and densify
South End Stats:
7th fastest metro in the us
$159,450 Average household income
5.5 MM SF existing office
2.9 MM office planned/ under construction
9,700 existing residential units
6,360 residential units planned/under construction
123 existing hotel rooms
506+ hotel rooms planned
1.4MM SF existing Retail
212K SF retail planned/under construction
9.9% vacancy rate
