Capstone Land Sales is pleased to present the exclusive
listing for the Cardinal Landing BFR Site, a ±12.24-acre suburban,
townhome-style land site in the South Charlotte submarket. The development site
is ideally located off Monroe Road, in one of the fastest growing rental
submarkets in Charlotte. The South Charlotte submarket has seen unprecedented
year-over-year rent growth above 15% and features a median income of $100,000,
making the development site a prime build-for-rent townhome opportunity.
Additionally, the property is proximate to multiple Class A retail centers and
office space, offering residents a short commute to all the necessities while
still enjoying the private living style that a townhome community has to offer.
Currently zoned as R-3, new ownership will need to rezone the property to R-12
to allow up to 90 townhomes at the site. The City of Charlotte and District 6
have shown favorable sentiments towards similar projects in the past, paving
the way for a successful rezone. Once rezoned, ownership can begin developing a
townhome community poised to capitalize on recent economic growth in the area.