Updated Oct 13, 2026
The Annex Group Purchases 3.4 Acre Development Site In Charlotte From Kilbros3 LLC For $3.4M
5703 5707 North Tryon Street
$3,400,000
Units
200
Asset Type
Development Site
Closing
Jul 7, 2025
About this deal
AI
A development site located at 5703-5707 North Tryon Street in Charlotte, NC, has been sold as a multifamily lot covering 3.4 acres. The sale price was $3,400,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,400,000
- Buyer: The Annex Group
- Seller: Kilbros3 LLC
- Broker: Ryan Pilsy - Coldwell Banker
- Market: Charlotte, NC
- Acres: 3.4
The Annex Group, backed by city and banking partners, has plans for a 200-unit affordable housing development on the newly acquired site.
The development site sale at 5703 5707 North Tryon Street in Charlotte, North Carolina sold for $3.4M in 2025. 5703 5707 North Tryon Street is classified as Development Site on Traded. Ryan Pilsy, Coldwell Banker appear on the sale alongside Coldwell Banker. This page is the Charlotte, North Carolina file for the 5703 5707 North Tryon Street development site sold: pricing, party profiles, and other closed development site comps from the same Charlotte sit in the Market section below. Filter that Charlotte development site set by closing date to see what else sold near 5703 5707 North Tryon Street around 2025. Published consideration for 5703 5707 North Tryon Street is $3.4M, dated 2025. Cite this The Annex Group Purchases 3.4 Acre Development Site In Charlotte From Kilbros3 LLC For $3.4M sale when underwriting similar development site product around Charlotte, North Carolina.
On the Map
$3,400,000
Development Site
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Charlotte Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93