Updated Oct 29, 2024
Mecklenburg County Sells 6-Acre Uptown Property To BK Partners For $10.3M
East Brooklyn Village Avenue Charlotte, North Carolina 28202, Usa
$10,300,000
Building Size
—
Asset Type
Development Site
Closing
Aug 1, 2023
About this deal
AI
Mecklenburg County, located in Charlotte, NC, has recently completed a significant property transaction as part of the Brooklyn Village Redevelopment Project. The county sold approximately 6 acres of land at the intersection of E Brooklyn Vlg Ave and S McDowell St for a total of $10.3 million. The development site, with its prime location in uptown Charlotte, holds great potential for future growth and expansion.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $10,300,000
- Address: E Brooklyn Vlg Ave & S McDowell St, Charlotte, NC
- Market: Charlotte, NC
- ACRES: 6
- Seller: Mecklenburg County
- Broker: BK Partners
As part of the initial phase of the Brooklyn Village Redevelopment Project, BK Partners played a crucial role as Mecklenburg County's broker representative. The successful sale of this development site demonstrates the County's commitment to revitalizing the uptown area and fostering economic growth. With its strategic location and significant acreage, the property is expected to attract further investment and contribute to the ongoing transformation of the Brooklyn Village area.
Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.54%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93