| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 77th | Best |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2206 Caledonian Ln, Charlotte, NC, 28273, US |
| Region / Metro | Charlotte |
| Year of Construction | 2008 |
| Units | 98 |
| Transaction Date | 2010-05-14 |
| Transaction Price | $45,500,000 |
| Buyer | MFREVF V-GRAMERCY LP |
| Seller | SHLP GRAMERCY AT AYRSLEY SQUARE LLC |
2206 Caledonian Ln, Charlotte — Renter-Dense Inner Suburb Multifamily
Neighborhood fundamentals point to steady renter demand and above-metro occupancy stability, according to WDSuite’s CRE market data. The location’s tenant base depth supports consistent cash flow expectations, with room for operational value creation over a standard hold.
The property sits in an Inner Suburb of Charlotte rated A and ranked 65th among 709 metro neighborhoods — a position competitive within the region’s top decile. Neighborhood occupancy trends are strong relative to national benchmarks, helping support leasing stability for professionally managed assets.
Local livability is anchored by everyday conveniences rather than destination amenities: grocery access is strong (high national standing), restaurants are plentiful, while parks and cafes are limited. For investors, this mix favors routine foot traffic and daily-needs retail that can underpin resident retention, though lifestyle-driven amenities may require on-site programming to compete.
Vintage matters: built in 2008, the asset is newer than the neighborhood’s average construction year (1999). That positioning can enhance competitiveness versus older stock while still warranting targeted capital plans over time (systems lifecycle, interiors, and curb appeal) to maintain rent premiums.
Tenure patterns indicate a high share of renter-occupied housing in the neighborhood, implying a deep tenant pool and demand resilience for multifamily. Within a 3-mile radius, demographics show population and household growth over the past five years with further gains projected, signaling ongoing renter pool expansion that can support occupancy. Median contract rents in the 3-mile area are rising from a comparatively accessible base alongside growing household incomes, suggesting manageable affordability pressure and potential for disciplined rent optimization. In a high-cost ownership context by coastal standards but moderate for Charlotte, this balance can aid lease retention and measured pricing power.
Safety levels in the neighborhood trail national averages based on WDSuite’s data, so investors typically underwrite for visible security, lighting, and access controls. Notably, year-over-year trends show declines in both property and violent offense rates, indicating recent directional improvement that should be monitored over subsequent periods to confirm durability.
At the metro level, this submarket does not sit in the top tier for safety, but the improving trajectory can mitigate risk when combined with standard multifamily operating practices and resident engagement. Comparative analysis should focus on asset-level measures versus nearby comps rather than block-level assumptions.
Proximity to major employers supports a diverse workforce tenant base and commute convenience, including Airgas, AmerisourceBergen Healthcare Consultants, Nucor, Cisco Systems, and Duke Energy. This employment concentration can reinforce leasing stability and renewal velocity for workforce-oriented units.
- Airgas — industrial gases (3.7 miles)
- AmerisourceBergen Healthcare Consultants — healthcare distribution/consulting (4.8 miles)
- Nucor — steel (5.9 miles) — HQ
- Cisco Systems — networking technology (6.8 miles)
- Duke Energy — electric utility (7.9 miles) — HQ
The investment case centers on durable renter demand, favorable neighborhood positioning within Charlotte, and demographic expansion in the surrounding 3-mile radius. Neighborhood occupancy sits above national medians and renter concentration is high, supporting a broad tenant base and stable absorption. Built in 2008, the asset competes well versus older local stock while allowing room for focused value-add through interior refreshes and operational improvements.
Population and household counts are growing and are projected to continue rising, which supports occupancy stability and renewal performance. Median rents in the 3-mile area are increasing from a relatively accessible level alongside rising incomes, which can enable disciplined rent growth while managing retention risk. According to CRE market data from WDSuite, everyday-need amenities are strong locally, though parks and cafe options are thinner — a factor that can be offset with on-site offerings and community programming.
- Competitive Inner Suburb location with above-metro occupancy and deep renter pool
- 2008 vintage provides relative competitiveness with targeted value-add potential
- Expanding 3-mile population and households support tenant base growth and leasing stability
- Rising incomes and accessible starting rents allow measured pricing power with retention focus
- Risks: below-average safety metrics and limited parks/cafes; mitigate via security, amenities, and active management