Land Development-Medical Office Building Charlotte NC

[Lisa Hoover]

Ill start by saying i'm 60 and ready to sell my land. I bought this land in 2004 on the "Rodeo Drive" of Charlotte NC and waited for everything to develop around it... So i have the LAST parcel of undeveloped land in this entire area of South Charlotte NC 28277. I've had it rezoned to O-1. Zoning says they want to see a Medical Office Bldg here, but my parcel is only 1.3 acres. Medical needs parking of 4 spaces/ 1000 SqFt It's too expensive to do underground parking OR a parking deck. I'd like to do a 2 story 18,000 Sq Ft bldg and that's 72 surface parking spaces. I'm thinking of opening up to the adjoining MF parcel to share their parking ( if zoning will allow a MF&O-1 zoning codes to share parking). I'm thinking of offering a brick wall to the 4 residential houses( that border my parcel on the right side) in exchange for them deeding over 15' at the far end of their backyards (aka creating setbacks) ANY other ideas????? ANY IDEAS on ways to increase area for parking spaces?? Ways to decrease tree save area? Ever used POROUS Pavement?? ( I hear it's really expensive---costs? ) THANK YOU SO MUCH for sharing anything you've seen or done that might help.

[Lisa Hoover]

ALSO thank you Tyler and Dan..

yes , i call it "daylight parking" 

would be beautiful here-- i'm hopeful the numbers will work.

We can go 40' in bldg height.

Christian thank you i never thought of a bus stop-- interesting.

I'm printing out comments from all of you and taking them with me to my zoning meeting on Monday afternoon.

Side note to Dan..yes i can do traditional office here and parking is 3/1000sf but it isn't the highest & best use and lease $/sf rates are lower which lowers the price i can get for the land.

My hope is to have a few physicians partner and owner occupy part of the bldg ( they could get 10% down com loans)... then when building (est cost

of land +15,000 sf = $5MM) then the drs with their 10+ year leases can sell to a REIT in 2021 for $10MM plus. That's the business plan I envision ...

I cannot even guess the value of just 1.3 acres of commercial land in this location in 2021.

So it's an amazing opportunity.