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8813 J W Clay Boulevard

SOLDRetail

Kamal Bhatia Of Silber Investment Properties Acquires Retail Center In Charlotte For $12.4M

8813 J W Clay Boulevard

$12,400,000

$143/SF

Building Size

86,620 SF

Asset Type

Retail

Closing

Jul 22, 2026

AI

The property asset involved in the transaction is an 11.7-acre fully leased retail center located at 8813 J W Clay Boulevard in Charlotte, North Carolina. The asset encompasses a total of 86,620 square feet, and the sale was finalized for a price of $12,400,000, which translates to a price per square foot of $143.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $12,400,000
  • Address: 8813 J W Clay Boulevard
  • Market: Charlotte, NC
  • Asset Size (Acres): 11.7
  • Square Footage: 86,620
  • Price Per Square Foot: $143
  • Buyer: Kamal Bhatia - Principal Asset Management
  • Seller: Tero Ojanperä - Alto University Place
  • Buyer's Representative: Silber Investment Properties
  • Seller's Representative: Colliers

Principal Asset Management acquired the property from Alto University Place, which is anchored by national retailers including Michael’s, Office Depot, Guitar Center, and Ross Dress for Less. The property is completely leased out with no lease expirations projected before 2030.

Players

Silber Investment Properties
Silber Investment PropertiesBrokerage
Colliers
ColliersBrokerage

Tero Ojanperä

Alto University Place

Seller

$12.4M

vol

1 deal

Seller

Clay Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.28%

Cash-on-Cash

-0.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93