| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 62nd | Good |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1815 Galleria Club Ln, Charlotte, NC, 28270, US |
| Region / Metro | Charlotte |
| Year of Construction | 2010 |
| Units | 48 |
| Transaction Date | 2021-05-04 |
| Transaction Price | $9,000,000 |
| Buyer | BR GALLERIA CLUB DST |
| Seller | GALLERIA PARTNERS III LLC |
1815 Galleria Club Ln Charlotte Multifamily Investment
Stabilized renter demand in the surrounding neighborhood and competitive suburban fundamentals support steady operations, according to WDSuite’s CRE market data. The location offers amenity depth and employment access that can help sustain occupancy through cycles.
This suburban Charlotte location ranks 31 out of 709 metro neighborhoods (A rating), placing it in the top quartile locally for overall livability. Amenity access is a relative strength: the area’s restaurant and cafe density sits in high national percentiles, and its amenity rank of 11 out of 709 is competitive among Charlotte neighborhoods. These factors help support leasing velocity and day-to-day convenience for residents.
At the neighborhood level, asking rents are above the metro median (contract rent rank 185 of 709; 73rd percentile nationally), while occupancy is mid-90s for the area (neighborhood occupancy 92.3%, 56th percentile nationally). Together, these indicators suggest a balanced leasing environment with room to manage pricing while monitoring renewal sensitivity.
Within a 3-mile radius, demographics indicate a large renter pool supported by higher-income households and household growth ahead. While the recent five-year population change was roughly flat, forecasts point to a modest increase in population and a notable rise in household counts, implying more renters entering the market and potential support for occupancy stability. The renter-occupied share is a meaningful portion of housing stock, reinforcing depth for multifamily demand and day-to-day leasing.
The property’s 2010 vintage is newer than the neighborhood’s average construction year of 1992. For investors, this positioning typically enhances competitiveness versus older stock and may temper near-term capital expenditure needs, while still leaving room for targeted modernization and value-add features to differentiate from late-2000s peers.
Safety indicators are mixed and should be contextualized against broader metro and national patterns. The neighborhood’s crime rank is 414 out of 709 Charlotte-area neighborhoods, which is below the metro median, and national percentiles indicate a weaker-than-average safety profile. However, recent trend data shows a meaningful year-over-year decline in estimated violent offenses and a modest decline in property offenses, signaling gradual improvement rather than deterioration.
For underwriting, a prudent approach is to benchmark loss history and security measures against comparable Charlotte submarkets, recognizing the improving trend while accounting for variability that can occur at the neighborhood level.
Proximity to major corporate employers supports a steady commuter tenant base and reinforces retention through convenient access to Charlotte’s office core. Key nearby employers include Sonic Automotive, Nucor, Bank of America, Cisco Systems, and Duke Energy.
- Sonic Automotive — automotive retail HQ (4.4 miles) — HQ
- Nucor — steel manufacturing HQ (5.8 miles) — HQ
- Bank of America Corp. — banking HQ (8.6 miles) — HQ
- Cisco Systems — technology offices (8.6 miles)
- Duke Energy — utilities HQ (8.7 miles) — HQ
This 48-unit asset built in 2010 benefits from strong suburban positioning, newer-vintage competitiveness, and a neighborhood where rents trend above the metro median while occupancy remains healthy. Within a 3-mile radius, forecasts show a modest population increase alongside a larger rise in household counts, pointing to renter pool expansion that can support occupancy stability and measured rent growth.
According to CRE market data from WDSuite, the surrounding neighborhood posts solid amenity access and mid-tier occupancy with improving safety trends year over year. Investors should see potential in targeted upgrades consistent with late-2000s/2010 product, while monitoring affordability pressure (rent-to-income conditions) to balance pricing power with renewal risk.
- Newer 2010 vintage enhances competitiveness versus older local stock, with targeted modernization potential.
- Neighborhood rents above metro median and healthy occupancy support near-term revenue stability.
- Within 3 miles, forecast household growth expands the tenant base and supports leasing.
- Amenity-rich suburban location with access to major Charlotte employers aids retention and leasing velocity.
- Risks: below-average national safety percentile and affordability pressure require disciplined lease management and expense planning.