| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 60th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8300 Paces Oaks Blvd, Charlotte, NC, 28213, US |
| Region / Metro | Charlotte |
| Year of Construction | 1989 |
| Units | 24 |
| Transaction Date | 2022-08-23 |
| Transaction Price | $60,000,000 |
| Buyer | BLUE ATLANTIC UNIVERSITY CITY LP |
| Seller | MAGNOLIA TERRACE PROPERTY LP |
8300 Paces Oaks Blvd Charlotte 24-Unit Multifamily
High renter concentration and solid neighborhood fundamentals point to durable tenant demand, according to WDSuite’s commercial real estate analysis. Consider this asset for steady occupancy potential with value-add upside tied to its late-1980s vintage.
This Inner Suburb location carries an A neighborhood rating and ranks 86 out of 709 Charlotte-area neighborhoods, placing it in the top quartile among metro peers. Restaurants, groceries, and pharmacies are comparatively accessible versus many U.S. neighborhoods, while parks and cafes are thinner locally — a trade-off typical of functional suburban nodes that still draw renters for convenience and commute access.
Renter-occupied housing accounts for a high share of units in the neighborhood (ranked near the top among Charlotte neighborhoods), signaling a deep tenant base and supporting leasing velocity. Neighborhood rents sit above the national median, but the area’s occupancy runs closer to the national middle, suggesting competitive positioning rather than excess pricing power. For a 1989-vintage property, investors should underwrite routine capital planning and potential renovations to sharpen positioning against the metro’s newer-average housing stock (1998).
Within a 3-mile radius, population and households have expanded and are projected to continue growing over the next five years, pointing to a larger tenant base over time. Household sizes are trending smaller, which can support steady absorption of one- and two-bedroom product and help stabilize occupancy.
Home values in the neighborhood sit modestly above national norms, and the value-to-income ratio is elevated relative to the nation. In practice, this high-cost ownership backdrop reinforces reliance on multifamily rentals and can aid retention, though a rent-to-income ratio around one-third indicates some affordability pressure — making revenue management and renewal strategy important for maintaining lease stability.
Crime levels in this neighborhood track below the metro average (ranked 457 out of 709 Charlotte neighborhoods) and below national safety percentiles, indicating a higher-than-average crime environment compared with many U.S. neighborhoods. Investors should calibrate underwriting and operations accordingly, focusing on visibility, lighting, and resident engagement to support retention.
Recent trend data provides a constructive note: property offenses have declined by roughly 30% year over year, based on WDSuite’s CRE market data. While violent offense measures remain weaker than national percentiles, sustained declines in property incidents would be a positive signal if the trend persists.
The area draws from a diversified employer base that supports renter demand through commute convenience, including pharmaceuticals, banking, utilities, auto retail, and networking technology. Nearby anchors include Merck, Bank of America, Duke Energy, Sonic Automotive, and Cisco Systems.
- Merck — pharmaceuticals (3.2 miles)
- Bank of America Corp. — banking (7.35 miles) — HQ
- Duke Energy — utilities (7.75 miles) — HQ
- Sonic Automotive — auto retail (8.57 miles) — HQ
- Cisco Systems — networking technology (8.8 miles)
This 24-unit, 1989-vintage asset offers a balanced risk/return profile: a high renter concentration locally supports a deep tenant pool, while neighborhood occupancy is closer to national mid-range levels. According to CRE market data from WDSuite, the area’s rent positioning is above national norms and ownership costs are comparatively high relative to incomes — dynamics that can sustain renter reliance. Vintage implies practical value-add potential through interior upgrades and systems modernization to compete against a metro housing stock that skews newer.
Within a 3-mile radius, recent and projected increases in population and households point to a growing renter pool that can support occupancy stability and leasing momentum. At the same time, elevated rent-to-income levels and below-median safety percentiles argue for disciplined revenue management, resident experience investments, and conservative loss-to-lease assumptions.
- High renter-occupied share supports depth of demand and lease-up stability
- 1989 vintage presents clear value-add and capital planning opportunities versus newer metro stock
- Growing 3-mile population and households expand the tenant base and support occupancy
- Proximity to major employers underpins retention through commute convenience
- Risks: affordability pressure (rent-to-income near one-third) and safety metrics below national percentiles