Thrive in Monroe, NC’s Booming Industrial Real Estate Market
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Commercial Property Opportunities in Monroe, North Carolina
Situated on the outer edge of the Charlotte area, the industrial community of Monroe is an older town that sits on U.S. Route 74 and benefits from easy access to both central Charlotte and other North Carolina cities.
Monroe also features the Monroe Expressway, a newer electronic toll road that opened up in 2018. This 18-mile toll road is a busy corridor that runs from U.S. Route 74 near I-485 to U.S. Route 74 further down in Union County, mostly parallel to U.S. 74. It’s a combination of two previously analyzed projects: the Monroe Connector and the Monroe Bypass. This allows residents and travelers a convenient access road to make their way through the area at faster speeds than they would on the commercial U.S. 74 corridor, which is busy with retail and other commercial properties.
Commercial property types in Monroe mostly consist of industrial real estate, warehouses, IOS (industrial outdoor storage) and retail, although you will find a few properties available in other categories, as well. Many of these available properties in the local market benefit from high visibility along U.S. 74 on the east side of Monroe, including car dealerships, big box stores, restaurants, medical centers, and grocery-anchored retail as well.
The Neighborhood of Monroe, NC
When it comes to living in this locale of the Charlotte metropolitan area, many residents enjoy Monroe for its suburban feel, numerous parks, employment opportunities, and good schools. The city currently has a population of approximately 35,000.
Historic Downtown Monroe has recently been going through a revitalization plan with goals to attract new businesses, create new jobs, protect and strengthen the existing tax base, and build a stronger community while also keeping the historic beauty of the city intact. These changes will not only increase traffic to the downtown area, but also make it more of a destination for residents and visitors of Union County.
Residents of Monroe enjoy the annual activities such as outdoor movies, antique car shows, and live music, as well as the variety of restaurants and retail centers. Other popular attractions include wineries (such as Treehouse Vineyards), bowling alleys, parks, the zoo (Why Not an American Ark), and more.
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Investment Opportunities in Monroe
The U.S. Route 74 Bypass is a current investment opportunity in the Monroe area. This new toll road has some development occurring because of the increased traffic as well as the amount of commercial land still available in this area. From an IOS perspective especially, this is a great place for finding larger properties to use, which can be tricky in the more built-up areas around Charlotte.
Because of the amount of still-available land, it’s also one of the top markets from a development perspective. This area provides space for an owner-user type market, where companies can build a building specifically for their business rather than to rent out to the general public.
Whether you’re looking for a small building with an acre or more of land, or numerous square feet of commercial property with close proximity to highways and easy access to other parts of North Carolina, Monroe provides a plethora of opportunities for both large and small businesses.
At Regent Commercial Real Estate, we’re committed to getting a deep understanding of your needs as we employ top-notch, comprehensive search database tools to help you find properties that may not even be available to the general public. With over 10 years of experience in the metro Charlotte area, we understand the strengths and weaknesses of the different Charlotte neighborhoods and are committed to using our knowledge and expertise to help you find a property that will set your business up for success.
Office Space in Monroe, NC
The office space market in Monroe is fairly small compared to other metro Charlotte neighborhoods, but there are still a number of options available. Medical office buildings – such as doctor’s offices, dentist’s offices, and the like – tend to be especially popular in this area. The rest of the office options are also mostly smaller buildings rather than large corporate offices.
Even though the available SF of office space is somewhat limited here, many of the buildings around Monroe offer the opportunity to customize your office space in order to fit your business needs. Rental rates for Monroe offices run around $15.50/yr, while office space for sale is generally around $220/sf.
Industrial Space in Monroe, NC
Monroe is a bigger industrial area, so there are quite a few opportunities for industrial property in this city. The available land here also offers more room for industrial and other commercial spaces. Many of the existing buildings in this area are older manufacturing buildings that have heavier power.
Whether you’re looking for smaller industrial buildings or larger warehouses with multiple drive-in doors and high clear heights, Regent CRE is here to help you find the best industrial building for your business needs.
Many of the opportunities in this area are conveniently located along U.S. Route 74, providing easy access for transporting products. Rental rates for industrial options average around $13/sf/yr, while properties for sale are listed around $115/sf.
Warehouse Space in Monroe, NC
Like general industrial, there’s quite a lot of warehouse space in the community of Monroe. Many of these warehouses, being older manufacturing buildings, also have heavier power. A number of warehouses are also located along U.S. Route 74, a convenient location for industrial business. Curtis Street is another popular Monroe warehouse area.
Available properties range from 6,000 sf of warehouse all the way up to larger locations over 50,000 sf. The average lease rate of Monroe warehouse properties is around $10/sf/yr.
Flex Space in Monroe, NC
The majority of flex space in this part of Charlotte is located up more toward the neighboring community of Indian Trail than right in Monroe. The Indian Trail area, closer to Charlotte, has access to a wider customer base than Monroe. However, there are a few flex properties available here. Many of these include build-to-suit options and storefront-style properties.
The typical sale price of flex properties in the Monroe area is around $190/sf, while lease rates are usually around $18/sf/yr.
Retail Space in Monroe, NC
There are a number of retail space opportunities in Monroe, especially along the U.S. Route 74 corridor. Popular businesses here include car dealerships, bigger retailers like Walmart and Lowes, the Monroe Crossing Mall, restaurants, and other smaller grocery-anchored retail centers and strip malls. There are also a number of prospective properties here that are standalone stores ranging from 1,000 square feet to 3,000 square feet. Most Monroe retail options tend to fall into Class B or Class C.
Rent opportunities for retail stores in Monroe tend to run at around $18/sf/yr, while properties for sale are usually in the $550/sf range.
Industrial Outdoor Storage (IOS) Space in Monroe, NC
Industrial outdoor storage (IOS) space is increasingly popular all over the country. It’s especially sought-after in blue-collar areas, since most of the companies who use these types of properties are in more industrial or blue-collar fields. Although more and more businesses are turning to IOS space, it’s not always easy to find. IOS generally consists of a larger property – at least an acre lot is typical – with a smaller building sitting on it. Finding these lots in metropolitan areas can be difficult.
Monroe, however, still has available land that’s ideal for IOS property. Quite a bit of this land is also sitting on higher-traffic roads, which makes it perfect for easy access and convenient transportation.
If you’re searching for IOS space that’s not too far from Charlotte, Monroe is a great place to look.
Case Study – Accommodating Changing Business Needs in Monroe for a Distribution Company
Businesses grow and change, and more times than not, this is a good thing! However, expanding business functions also comes with new real estate needs sometimes. Although the thought of expanding can be exciting, the time and effort it takes to find and close on a new property isn’t always looked forward to.
As one of our clients found their business expanding, they realized that it was time to add more square footage to keep up with the demand. This food distribution company already had a warehouse property in Monroe, where they shipped and distributed goods. They knew they needed to expand the business, but weren’t sure if they were ready to make the slightly more permanent decision of actually buying another warehouse.
We worked with this company to help them find a warehouse building to lease with the option to later purchase it. Although this type of property isn’t always easy to find, our comprehensive search database tools and network of connections in the Charlotte area gave us a leg up on locating the ideal property that would fit the changing needs of their business.
This food distribution company is now thriving in their new cold storage facility space, with enough warehouse square footage (as well as a small office section) to keep up with their customers’ needs.
Your Neighbors in Monroe, North Carolina
Monroe has a plethora of both small and medium-sized retailers, as well as a variety of industrial businesses that make their home in this Charlotte submarket. The city is also home to Wingate University, an independent university established in 1896 that “blends in-class learning with out-of-class application“. Other popular businesses you’ll find in this area include:
- Rolling Hills Country Club
- Tractor Supply Co
- Best Buy
- Atrium Health Union
- Monroe Country Club
- A Cause for Tea
- The Smoke Pit
- Aldi
- Monroe Aquatics and Fitness Center
- Charlotte-Monroe Executive Airport
- And many more
FAQs About Monroe, NC Near Charlotte
Is Monroe a suburb of Charlotte?
Yes, Monroe is considered a suburb of Charlotte, North Carolina. It’s located in Union County, NC, about 45 minutes southeast of central Charlotte.
The current population of Monroe is 37,797, and the city has a 9% population increase.
What is the average household income of Monroe, NC?
Monroe has a median household income of $67,265.
Is Monroe, NC a good place to start a business?
Monroe is an excellent place to start a business, and is actually ranked as one of the top 10 cities in North Carolina for small businesses. This is credited to its population size, low sales tax rate (6.75%), and affordable commercial real estate.
The city is also working through a revitalization plan to further encourage new jobs, protection of the existing tax base, a positive community image, and new businesses.
What types of commercial properties are available in Monroe?
Monroe is best known for its industrial real estate and retail properties. In this North Carolina city, you’ll find options for warehouses, IOS (industrial outdoor storage space), and more. Monroe’s location along U.S. Route 74 makes it ideal for both visibility and ease of access.
How much does commercial real estate cost in Monroe?
In Monroe, commercial real estate averages around $15/sf/yr for properties for lease and around $269/sf for properties for sale. The price of real estate can vary significantly, however, depending on the type of property, building class, location, and features.
Discover Prime Commercial Real Estate in Metro Charlotte with Ease
Navigating the commercial real estate market of North and South Carolina can feel overwhelming. When you work with Regent CRE, you can rest assured that you’ll experience professionalism, expertise, attention to detail, and a deep knowledge of the market in the greater Charlotte area.
Our service marks include trust, creative solutions, insightful information, and an unwavering commitment to client success. Blending the experience of nearly 1000 successful sales and lease transactions with prestigious real estate credentials – including SIOR and CCIM – head broker Brian Smith is a trusted resource for both Charlotte locals and out of town investors.
Whether you’re on the hunt for office, industrial, warehouse, flex, retail, or IOS commercial real estate listings, Regent Commercial Real Estate is here to make the process simple and painless while saving you time and money. Our primary goal for your property is securing the best location and providing expert negotiation strategies in order to support your long-term business success.
Ready to get started? Contact us today.
