Discover the Exciting Landscape of Plaza Midwood in Charlotte, NC
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Photo Credit: Plaza-Midwood, Charlotte by James Willamor, licensed under CC BY-SA 2.0
Historic Charm Blends With Modern Developments in Plaza Midwood
Plaza Midwood is a small neighborhood in the Charlotte, NC area that consists primarily of residential and retail buildings. Its location – only about a mile from Uptown – makes it an exciting place to live, work, and shop. As one of the oldest neighborhoods around Charlotte, Plaza Midwood blends the beauty of historic charm and new developments.
Plaza Midwood’s residential homes tend to be a bit nicer and more expensive than other parts of Charlotte. Since the area is only a neighborhood and not a city, there’s a fairly limited pool of options for those who choose to make this beautiful area their NC home. Residents enjoy somewhat upscale living spaces, a variety of neighborhood retail, plenty of community events, easy access to Uptown, and outdoor space that provides numerous opportunities for exercise and movement. Cyclists especially enjoy the regular community rides, including the Tuesday night ride (which has happened every week since 2013!), the Sunday Slow Ride, and Free Wheelin’ Fridays, as well as others.
Central Avenue is the major business district of the neighborhood and is home to numerous shops and small businesses. Grocery stores, doctor’s offices, dentist’s offices, coffee shops, restaurants, an urgent care, law firms, consignment shops, and auto repair shops are just a few of the neighborhood businesses that make their home in this community.
While it’s not as hot of an office market as some of the nearby neighborhoods, there are both traditional and newer office buildings in the area as well. Most of these are low-rise or mid-rise buildings – a bit more humble than the high-rise skyscrapers you’ll find closer to Uptown and in other parts of the metro area.
The Plaza Midwood Neighborhood of Charlotte, NC
The heart of Plaza Midwood – its downtown area – is a two-square-block section that’s packed with things to do. It’s a walkable area that’s filled with historic buildings, live music, cultural events, fresh coffee, all sorts of delicious dining opportunities, and so much more. The variety of buildings you’ll find along the streets of Plaza Midwood’s downtown are full of character, art, and beauty. The neighborhood truly has a personality of its own that has only continued to grow and evolve over the years.
Besides enjoying the captivating downtown landscape, Charlotte residents of this area also look forward to numerous recurring and special events throughout the year. Regular farmers markets, summer movie nights, and the monthly community coffee + clean up are just a few of the recurring events that help keep the community bound together. Annual excitement revolves around events such as the Juneteenth Festival, Winter Fling, Fall Crawl, Midwood Mile Sprint, Holiday Tree Lighting, and many others.
And those who enjoy the outdoors and recreation opportunities that Plaza Midwood offers can be found on the tennis court, walking, biking, and running through the many paths and greenways, swimming in the nearby pools, jumping in on a cycling event, or exploring the parks.
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Investment Opportunities in the Plaza Midwood Neighborhood
The investment opportunities in Plaza Midwood are fairly limited, simply because of the size of this smaller neighborhood. The whole area is only 914 acres and is home to about 4500 residents.
Most of the investments we see in this area are older residential buildings that investors renovate. The VanLandingham estate, for example, is a historic estate that was renovated to be used for more elegant events, such as wedding receptions, rehearsal dinners, and corporate events.
In general, however, while there are properties available, commercial opportunity is somewhat limited in this well-loved neighborhood.
Office Space in the Charlotte Plaza Midwood Neighborhood
The office space in the Plaza Midwood neighborhood mostly consists of smaller, low- to mid-rise buildings. A variety of medical offices (including small doctor’s offices and dentist’s offices) as well as other small- to medium-size work spaces are nestled within this bustling community. The Elizabeth area is a popular spot for offices within Plaza Midwood.
Pricing in this area is a bit higher than the more spread-out locales around Charlotte. It tends to average around $32/sf/yr for office properties for lease and $510/sf for properties for sale.
Industrial Space in the Charlotte Plaza Midwood Neighborhood
There’s not a lot of industrial space in the Plaza Midwood neighborhood. This area is quite small and packed together, so there’s just not a lot of open land available for bigger industrial buildings. Shopping, dining, residential, and some office properties are much more popular uses for the available real estate around the area.
Of the few industrial properties that are offered here, pricing tends to average around $16/sf/yr.
Warehouse Space in the Charlotte Plaza Midwood Neighborhood
Like industrial space, warehouse space is also pretty hard to come by in this North Carolina neighborhood. The nature of the community lends itself to smaller, consumer-oriented buildings rather than large warehouses.
Flex Space in the Charlotte Plaza Midwood Neighborhood
Since Plaza Midwood is mostly a retail neighborhood, there aren’t a ton of service-oriented businesses here, but there are a few. These and other flex users take advantage of the limited amount of flex space that’s available in this part of Charlotte.
The flex spaces in this community span from smaller properties to more sizable, multi-use spaces. Most are older, Class C buildings. Some have been renovated for re-use. The pricing for flex properties in this area averages around $16/sf/yr for properties for lease and $283/sf for properties for sale.
Retail Space in the Charlotte Plaza Midwood Neighborhood
There’s a variety of neighborhood retail in the Plaza Midwood neighborhood that caters to the local community. Most are smaller buildings, largely falling into the 1,000-2,000 square foot range. There are some larger options, too, including somewhat taller buildings up to 5,000 square feet. Most of these are Class C buildings, including a number of older houses that have been converted into different uses. Popular retail streets include Tryon Street and Central Avenue.
Pricing for retail space in this neighborhood tends to range from $100-$400/sf for properties for sale and $26/sf/yr for properties for lease.
Industrial Outdoor Storage (IOS) Space in the Charlotte Plaza Midwood Neighborhood
Although the demand for industrial outdoor storage (IOS) commercial real estate continues to increase, Plaza Midwood is not the right location for this type of property. IOS space is typically classified as at least an acre or more of land, usually with a small building sitting on it. Because of both the smaller size of the Plaza Midwood neighborhood and its proximity to the metro area, it’s simply not the place for industrial outdoor storage.
More popular IOS locations around Charlotte include the Lake Norman area, Rock Hill, Indian Trail, Harrisburg, Concord, Belmont, Gastonia, Pineville, and Monroe, among others.
Your Neighbors in Charlotte’s Plaza Midwood
Plaza Midwood mostly consists of residential homes and smaller businesses. Here are some popular local businesses that you’ll find around the area:
- Commonwealth Animal Hospital
- Moo & Brew
- The Workman’s Friend
- Intermezzo Pizza
- Akahana Asian Bistro
- Midwood Smokehouse
- Harris Teeter
- …and many more!
FAQs About the Plaza Midwood Neighborhood in Charlotte, NC
Where is Plaza Midwood in Charlotte?
Plaza Midwood is a neighborhood in Charlotte, NC located about a mile from Uptown, in the northeastern corner.
Plaza Midwood has an area of 1.12 square miles and a population of 4,344. It’s one of the more densely-populated areas in Charlotte.
How old is Plaza Midwood?
Plaza Midwood was first established in the 1920s under the name “Chatham Estates”. It was a streetcar suburb neighborhood, depending on the trolley line for much of its transportation.
Although the neighborhood began to decline around the middle of the 20th century, it’s seen incredible growth over the past 25 years, as old buildings and unkempt properties have been transformed into artistic spaces within this modern community.
Is commercial real estate in Plaza Midwood expensive?
Commercial property in Plaza Midwood is limited compared with other Charlotte suburbs, which contributes to the slightly higher price of commercial real estate in this neighborhood. On average, properties for lease tend to run at around $23/sf/yr, while properties for sale average in the $350/sf range.
Of course, building costs depend on the location, size, and building class, among other features.
What’s the average household income in Plaza Midwood?
Plaza Midwood has an average household income of $123,837. Residents in this neighborhood enjoy a household income that’s 96% higher than the national average, contributing to the thriving economy of this community.
Achieve Your Commercial Real Estate Goals With Regent CRE
At Regent Commercial Real Estate, we understand that the process of finding, negotiating, and closing on real estate properties can be time-consuming, confusing, and frustrating. With nearly 1000 successful sales and lease transactions under our belt, we’re intimately familiar with the commercial real estate processes and are committed to using our knowledge and expertise to help our clients experience success.
More than just closing the sale, our goal is to see your business thrive. We take the time to understand your goals, create a customized market report, perform financial analyses, and much more to find creative solutions to your real estate needs. From expert negotiation to our comprehensive search database tools and network of Charlotte resources and relationships, we’re committed to giving you the best experience possible.
Whether buying, selling, or leasing, our team at Regent CRE is here to help you on your commercial real estate journey. Contact us today to get started.
