VALUE -ADD retail property in rapidly expanding and developing Derita area of North Charlotte. The in-place income is $58,000 annually with tenants paying +/- $8,50 per square foot representing a 4.36 CAP rate. Similar properties in the area have rents in the $18 - $23 per square foot range. Repositioning the property to rents of $15 per square foot would place the CAP rate of 7.91. Buyers should run their own proforma numbers and complete their own evaluation.