PASS41

Pass41 is strategically positioned within Charlotte, one of the nation’s fastest-growing markets for population, employment, and corporate investment. Continued corporate relocations and expansions across financial services, technology, healthcare, and advanced manufacturing are driving job creation and inmigration, supporting long-term demand for retail, office, and mixed-use real estate.

Pass41 offers a unique mixed-use environment combining specialty retail, creative office, and medical uses with direct access to the LYNX Blue Line. This integrated, transit-oriented setting creates multiple demand drivers while providing flexibility to lease existing vacancy and capitalize on NoDa’s continued growth and densification.

At 44% leased, Pass41 offers significant value-creation potential through the lease-up of existing vacancy, including two fully built-out, turnkey office suites. The larger 22,127 SF main-level and mezzanine space provides flexibility for an office end user, creative office, food hall, entertainment-oriented use, or subdivision into smaller, higher-rent suites; creating multiple paths to increase occupancy and grow NOI.

The property is supported by strong demographics, with approximately 298,000 residents within five miles and an average household income exceeding $123,000. The one-mile population is projected to grow 41.7% over the next five years, reinforcing the submarket’s exceptional growth trajectory.

Pass41 benefits from more than 5,000+ nearby multifamily units recently delivered or under construction, along with direct LYNX Blue Line access. This growing live-work-play environment is increasing density and consumer activity, strengthening demand from retail and office users seeking expansion opportunities in one of Charlotte’s emerging infill submarkets.

Pass41 benefits from NoDa’s distinctive arts, culture, and entertainment identity, which attracts a highly engaged consumer base and specialty tenants seeking authentic, differentiated locations. With a targeted leasing strategy focused on experiential, food and beverage, creative, and service-oriented users, the property is well positioned to increase occupancy and capitalize on the submarket’s continued growth.

Pass41 offers investors the opportunity to acquire a Class A mixed-use development at a basis well below replacement cost in one of the nation’s fastest-growing markets. The attractive basis provides downside protection while allowing new ownership to capitalize on existing infrastructure, embedded lease-up potential, and the continued growth of the surrounding area.

All existing leases include contractual rent escalations, with six tenants featuring annual increases. This structure provides consistent organic income growth and a natural hedge against inflation without relying on lease-up or repositioning.

Pass41 benefits from its location in Charlotte, one of the Southeast’s fastest-growing economic and population centers. Continued corporate relocations and expansions across financial services, technology, healthcare, and advanced manufacturing are driving job creation and in-migration, supporting long-term demand for retail, office, and mixed-use real estate.