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Northwood Ravin Purchases Development Site On Providence Road In Charlotte For $29.2M From Levine Properties
SOLD
$29,200,000
North Carolina
See Similar DealsDevelopment Site
Sold 01/07/2026
SOLD
Northwood Ravin Purchases Development Site On Providence Road In Charlotte For $29.2M From Levine Properties
5818 Providence Road
See Similar DealsDevelopment Site
Sold 01/07/2026
Summary
NORTH CAROLINA
Asset Type:Development Site
Transaction Type:Sale
A development site located at 5818 Providence Road, Charlotte, NC, was involved in a transaction where 20.8 acres of undeveloped land were sold. The sale took place on January 7, 2026, with a total transaction amount of $29,200,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $29,200,000
- Buyer: Northwood Ravin
- Seller: Levine Properties
- Closing Date: January 7, 2026
- Market: Charlotte, NC
- Size: 20.8 acres
The transaction was facilitated by representatives from both parties. Northwood Ravin acquired the property from Levine Properties, marking a significant addition to their portfolio in the South Charlotte area.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,557,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,741.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$138,422.90
Annual Debt Service$1,661,074.77
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