Under Contract

The Shops at Harris Station

8424-8432 Old Statesville Road, Charlotte, NC

31,678 SF

Total GLA

$5,850,000

Sales Price

100%

Occupancy

$467,361

Existing NOI

2.82 AC

Land Size

Property Overview

Overview

The Shops at Harris Station is a 31,678 SF value-add shopping center at 8424-8432 Old Statesville Road in Charlotte, NC, offering strong frontage along Old Statesville Road (14K VPD) just off W.T. Harris Blvd (36K VPD). With all tenants currently on gross leases, near-term expirations and month-to-month tenants present a clear path to restructure the rent roll to NNN and capture rental upside, all within one of Charlotte's fastest-growing submarkets along the planned Lynx Red Line.

Property Details

Property Highlights

Address	8424-8432 Old Statesville Road, Charlotte, NC
Year Built	1966 & 1978
Total GLA	31,678 SF
Total Land Size	±2.82 Acres
Occupancy	100%
Pro Forma NOI	$467,361
Financing	Free & Clear

Why This Deal

Investment Highlights

Value-Add Potential Through Rental Upside

Near-term expirations and MTM tenants without renewal options present a clear path to restructure gross leases to NNN and capture significant NOI upside.

Diversified Income

A highly diversified mix of local service, retail, and specialty operators reduces cash flow risk, with no single tenant representing an outsized share of rent.

Strategic Positioning and High Visibility

Positioned along Old Statesville Road (14K VPD) just off W.T. Harris Blvd (36K VPD), less than two miles from I-77 and a 15-minute drive to Uptown Charlotte.

Strong Demographics

Within a 1-mile radius, average household income is $107K and population has grown 125% since 2000; the 5-mile trade area includes 167K residents.

Transformative Growth Driven by the Charlotte Red Line

Sits along the planned 25-mile Lynx Red Line, part of a $1.38 billion regional mobility investment; Harris Station was formally endorsed along Old Statesville Road in March 2025.

Limited Surrounding Retail Creating a Competitive Advantage

Positioned within a primarily industrial and manufacturing corridor where retail options are limited, concentrating consumer demand and driving consistent traffic.

Booming High Growth Market

Located within the Charlotte MSA (2.9M population), anchored by major employers including Bank of America, Wells Fargo, Duke Energy, Lowe's, and Honeywell.

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