| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 72nd | Best |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 Blue Sky Dr NW, Concord, NC, 28027, US |
| Region / Metro | Concord |
| Year of Construction | 2012 |
| Units | 24 |
| Transaction Date | 2011-12-15 |
| Transaction Price | $3,000,000 |
| Buyer | WMCI CHARLOTTE XIV LLC |
| Seller | CRESCENT RESOURCES LLC |
400 Blue Sky Dr NW Concord Multifamily Investment
Positioned in a high-income Concord submarket with steady household growth, the asset benefits from a deep renter base and family-oriented amenities, according to WDSuite’s CRE market data. Neighborhood occupancy trends are moderate but demand is supported by rising households and strong schools.
This suburban Concord neighborhood carries an A rating and ranks 58 out of 709 metro neighborhoods, placing it in the top quartile locally based on WDSuite’s commercial real estate analysis. The local housing stock skews relatively modern, with newer construction common versus many Charlotte-Concord-Gastonia submarkets, supporting competitive positioning for 2010s-vintage assets.
Livability drivers are balanced: restaurants and cafés rank within the top quartile among 709 metro neighborhoods, and parks access is competitive, while immediate pharmacy options are limited. Public school quality scores in the top quartile locally (45 of 709), a draw for family renters and a tailwind for lease retention.
At the neighborhood level, occupancy is mid-80s, suggesting room for asset-level differentiation through product quality and operations. The renter concentration within the neighborhood is around the metro median, indicating a stable—if not saturated—base of renter-occupied units that can support consistent leasing.
Within a 3-mile radius, population and households have expanded and are projected to continue growing, with households outpacing population as average household size trends lower. This pattern typically increases the number of renting households and supports occupancy stability and pricing power for well-managed properties.
Home values are elevated for the region and household incomes rank in the top decile nationally, reinforcing the depth of qualified tenants and supporting rent levels without excessive affordability pressure. In higher-cost ownership environments, multifamily often captures demand from residents prioritizing convenience and flexibility, aiding retention and renewal velocity.
Safety indicators here are mixed and should be evaluated in context. The neighborhood ranks 592 out of 709 metro neighborhoods on crime, which is below the metro median and places it in a lower national safety percentile. For investors, this argues for practical measures—lighting, access control, and visible management presence—to support resident confidence and leasing performance.
Year-over-year volatility in reported property and violent offense rates underscores the importance of monitoring trends rather than relying on a single period. Comparing submarket alternatives and emphasizing on-site security practices can help mitigate perception risk relative to nearby Charlotte-Concord-Gastonia neighborhoods.
The area draws from a broad employment base spanning life sciences, food distribution, banking, utilities, and home improvement retail—diversified drivers that underpin renter demand and support commute convenience for workforce and professional tenants.
- Merck — pharmaceuticals (3.9 miles)
- Sysco — food distribution (5.1 miles)
- Bank of America Corp. — banking (12.3 miles) — HQ
- Duke Energy — utilities (12.7 miles) — HQ
- Lowe's — home improvement retail (13.6 miles) — HQ
Built in 2012, this 24-unit, mid-size asset competes well against an area housing stock that trends slightly older, providing a product-quality edge while still warranting routine system updates as the property moves through its second decade. Household growth within a 3-mile radius and strong local incomes indicate a durable tenant base that can support occupancy and rent levels; based on CRE market data from WDSuite, neighborhood occupancy is moderate, so operational execution and unit-quality differentiation are key levers.
Elevated home values and high median incomes reinforce sustained reliance on multifamily, while family-oriented amenities and top-quartile school ratings support lease retention. Forward-looking projections show more households and a larger pool of potential renters as average household size declines, which typically helps stabilize leasing even as new supply cycles in.
- 2012 vintage offers competitive positioning versus older stock, with manageable modernization planning
- Growing 3-mile household base expands the renter pool and supports occupancy stability
- High regional incomes and elevated ownership costs bolster multifamily demand and renewal potential
- Amenity-rich setting and strong schools aid family renter retention
- Risks: neighborhood safety ranks below metro median and occupancy is moderate—necessitating strong ops and security practices