Firm Overview Listings Shopping Centers Single-Tenant 1301 Exchanges
Rob Carter
704.379.1982 Office
704.379.1988 Fax
carter@berkeleycap.com
Alex Quarrier
704.714.2365 Office
704.379.1988 Fax
quarrier@berkeleycap.com
David Webb
7043791967 Office
7043791988 Fax
webb@berkeleycap.com
   
Shops at Avenue

OFFERING SUMMARY

The Shops at Avenue includes 6,674 SF of retail and is part of a mixed-use building located at one of the most desirable corners in downtown Charlotte. The Shops at Avenue sits below a high rise, comprised of upscale condominiums called The Avenue. The condominiums range in price from $200,000 to the high $400,000s, with penthouses priced over $1,000,000. All 386 condo units are currently sold.

SUBMARKET OVERVIEW

The Shops at Avenue is ideally positioned in downtown Charlotte on the corner of Church and 5th Street, giving the center excellent visibility and easy access.

About 77,000 people work in Charlotte's center city. The headquarters for the Fortune 500 companies Duke Energy and Wells Fargo/Wachovia are located here, as well as Bank of America.

 

DEMOGRAPHICS
   
  1 Mile 3 Miles 5 Miles  
2014 Projection 12,187 94,523 226,358  
2009 Estimate 10,223 90,527 214,550  
Growth 2009 - 2014 19.21% 4.41% 5.50%  
Growth 2000 - 2009 52.60% 4.37% 6.75%  
2009 Average Household Income $64,894 $63,605 $60,619  
OFFERING MEMORANDUM & FILES
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Profiles
Name: Shops at Avenue
Size: 6,674 SF
Market: Downtown Charlotte
Year Delivered: 2008 / 2009
Leasing Status: 67% (1 Vacancy)
Debt: Free and Clear
   
   
NET OPERATING INCOME $175,633
   
CAP RATE -
   
OFFERING PRICE Unpriced
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