| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 61st | Good |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 901 Grand Summit Blvd, Concord, NC, 28027, US |
| Region / Metro | Concord |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | 2012-08-31 |
| Transaction Price | $3,100,000 |
| Buyer | CENTENNIAL AFTON RIDGE LLC |
| Seller | AFTON RIDGE APARTMENTS L L C |
901 Grand Summit Blvd, Concord NC Multifamily Investment
Suburban asset near Charlotte with renter demand supported by a moderate neighborhood renter-occupied share and high home values, according to WDSuite’s CRE market data. Newer construction relative to local stock positions the property for competitive leasing and steady operations.
Located in a suburban pocket of Concord within the Charlotte-Concord-Gastonia metro, the property sits in a neighborhood rated B+ (ranked 205 out of 709 metro neighborhoods). Local housing metrics are above the metro median, and the average school rating trends competitive among Charlotte-Concord-Gastonia neighborhoods (ranked 84 of 709), signaling family-friendly fundamentals that can aid tenant retention.
Construction year averages in the neighborhood skew around the early 2000s, while the asset’s 2013 vintage is newer than the area norm — a positive for leasing competitiveness and near-term capital planning. Neighborhood occupancy is below the national median, which puts a premium on asset quality, professional management, and pricing discipline to support stability.
Within a 3-mile radius, demographics show a growing population and an increase in households over the last five years, with forecasts indicating further renter pool expansion by 2028. Median incomes in the neighborhood are comparatively strong, and the rent-to-income profile (neighborhood-level) suggests room for operational optimization without overextending affordability. Elevated home values in the neighborhood reinforce sustained reliance on multifamily housing, supporting depth of tenant demand.
Retail and daily-needs access is present but not dense; grocery and pharmacy coverage track near national midranges, while the immediate area has fewer cafes and parks. For investors, this mix points to suburban livability with essential services and schools that rate well relative to many metro peers, a foundation that can underpin leasing even as new supply cycles in. This commercial real estate analysis is based on WDSuite’s data for neighborhood and metro context.
Safety indicators are mixed. Overall crime performance sits around the middle of the pack for the metro (ranked 332 out of 709), while national benchmarks show comparatively stronger positioning on violent and property offense rates (higher national percentiles indicate safer standing). Recent year-over-year shifts show some volatility in both violent and property categories, so investors should underwrite with attention to trend direction rather than a single data point.
At the underwriting level, this translates to standard precautions: emphasize lighting and access control, incorporate resident engagement, and monitor local policing and neighborhood-watch initiatives. The key takeaway is that submarket context is broadly stable by national comparison, but year-to-year fluctuations warrant ongoing review during hold.
The employment base blends nearby logistics, life sciences, and major corporate headquarters, supporting commuter convenience and a diversified renter pool. Notable employers within typical commute range include Sysco, Merck, Lowe's, Bank of America, and Duke Energy.
- Sysco — distribution (1.8 miles)
- Merck — life sciences (7.5 miles)
- Lowe's — home improvement HQ offices (12.9 miles) — HQ
- Bank of America Corp. — financial services (15.9 miles) — HQ
- Duke Energy — utilities (16.3 miles) — HQ
Built in 2013 with 24 units averaging roughly 1,000 square feet, 901 Grand Summit Blvd is newer than the neighborhood’s early-2000s housing stock, providing a competitive edge versus older assets and potentially lower near-term capex. Neighborhood home values are elevated relative to incomes, which tends to sustain rental reliance and supports pricing power when paired with a renter-occupied share that offers a meaningful tenant base. Based on CRE market data from WDSuite, local occupancy trends are softer than national medians, so disciplined operations, targeted amenities, and professional management should be central to the plan.
Within a 3-mile radius, population and household growth over the past five years — with further expansion forecast through 2028 — points to a larger tenant base over the hold period. Neighborhood rent-to-income indicators are manageable for many renters, enabling measured rent growth strategies while balancing retention and affordability risk.
- 2013 vintage offers relative competitiveness versus neighborhood stock and may limit near-term capital needs.
- Growing 3-mile population and households support renter pool expansion and occupancy stability over time.
- Elevated ownership costs and manageable rent-to-income levels reinforce multifamily demand and pricing power.
- Risks: neighborhood occupancy trends below national medians and recent safety volatility call for strong management and cautious underwriting.