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Monroe Flex Portfolio 3 Properties in Monroe, NC
INVESTMENT HIGHLIGHTS
- Separately parceled buildings allow flexible exit strategies
- 12,000 SF vacancy offers immediate NOI upside
- Adjacent to new Chick-fil-A and proposed retail development
- Located on W Roosevelt Blvd with 47K VPD
- Strong area demographics with $97K+ average household income
EXECUTIVE SUMMARY
The Monroe Flex Portfolio presents a compelling value-add investment opportunity in the Charlotte MSA, strategically located along Monroe’s primary commercial corridor, W Roosevelt Blvd, which sees 47,000 vehicles per day. Comprising three flex buildings totaling 29,089 SF on 5.26 acres, the portfolio is currently 59% occupied, with 12,000 SF of vacancy offering immediate upside. The vacant space, formerly a soccer academy, is projected to generate an additional $150K in NOI when leased at market rates.
Built between 2011 and 2018, the buildings are in excellent condition and benefit from secure, fenced parking and proximity to major retail developments, including a newly relocated Chick-fil-A and a proposed 50,000 SF retail center. The site’s flexible parceling allows for future spinoff sales or capital return strategies, enhancing investor optionality.
Tenants have staggered lease expirations through 2028, enabling a mark-to-market rent strategy. The area’s strong demographics, including average household incomes exceeding $97K within a 5-mile radius and consistent population growth, support long-term leasing stability. Monroe’s lower cost of living and property taxes compared to metro Charlotte further bolster its appeal for tenants and investors alike.
Built between 2011 and 2018, the buildings are in excellent condition and benefit from secure, fenced parking and proximity to major retail developments, including a newly relocated Chick-fil-A and a proposed 50,000 SF retail center. The site’s flexible parceling allows for future spinoff sales or capital return strategies, enhancing investor optionality.
Tenants have staggered lease expirations through 2028, enabling a mark-to-market rent strategy. The area’s strong demographics, including average household incomes exceeding $97K within a 5-mile radius and consistent population growth, support long-term leasing stability. Monroe’s lower cost of living and property taxes compared to metro Charlotte further bolster its appeal for tenants and investors alike.
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PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Under Contract | Total Building Size | 28,581 SF |
| Number of Properties | 3 | Total Land Area | 5.38 AC |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 28,581 SF |
| Total Land Area | 5.38 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 2630 Nelda Dr, Monroe, NC 28110 | Flex | 11,492 SF | 1994 | - |
| 2648 Nelda Dr, Monroe, NC 28111 | Industrial | 5,089 SF | 2018 | - |
| 2620 Nelda Dr, Monroe, NC 28110 | Retail | 12,000 SF | 2011 | - |
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Monroe Flex Portfolio
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