Cardinal Landing BFR Site

Cardinal Landing BFR Site

Charlotte, NC
Available
  • Property Type: Development/Land
  • Property Size: / ±12.24 Acres / ±90 Townhome Units Sites

Overview

Capstone Land Sales is pleased to present the exclusive listing for the Cardinal Landing BFR Site, a ±12.24-acre suburban, townhome-style land site in the South Charlotte submarket. The development site is ideally located off Monroe Road, in one of the fastest growing rental submarkets in Charlotte. The South Charlotte submarket has seen unprecedented year-over-year rent growth above 15% and features a median income of $100,000, making the development site a prime build-for-rent townhome opportunity. Additionally, the property is proximate to multiple Class A retail centers and office space, offering residents a short commute to all the necessities while still enjoying the private living style that a townhome community has to offer. Currently zoned as R-3, new ownership will need to rezone the property to R-12 to allow up to 90 townhomes at the site. The City of Charlotte and District 6 have shown favorable sentiments towards similar projects in the past, paving the way for a successful rezone. Once rezoned, ownership can begin developing a townhome community poised to capitalize on recent economic growth in the area.

Investment Highlights

  • Favorable Development Sentiment in Charlotte Market Bodes Well for Rezoning
  • Surge in Build-for-Rent Townhomes in the Southeast
  • Local Renter Demographics Support High End Rentals
  • Proximity to Employers and Amenities

Contact Information

Ron Corrao Managing Director P: 757.749.6994
O: 800.746.3175 ext. 712
ron@capstone-companies.com
Eric Liebich Director P: 248.225.3706
O: 800.746.3175 ext. 730
eric@capstone-companies.com
Matt Weinstein Investment Sales Advisor P: 703.987.0236
O: 800.746.3175 ext. 732
w.matt@capstone-companies.com
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