Sale of NC’s Oldest Dairy Queen Highlights the Importance of Business Sales and Succession Planning in Charlotte
Photo Credits: Dairy Queen
In a deal that blends nostalgia with community pride, the oldest Dairy Queen in North Carolina, located on Wilkinson Boulevard in west Charlotte has officially changed hands. The iconic property, which has delighted generations of Charlotte residents with its soft-serve ice cream, Blizzards, and milkshakes, sold for $1.1 million in April 2025, according to Mecklenburg County property records.
After nearly five decades of operating the beloved Dairy Queen Charlotte landmark, longtime owners Lacy and Blenda Walters have retired. However, the good news for ice cream lovers across the Queen City is that the signature swirls will live on.
The recent sale of North Carolina’s oldest Dairy Queen on Wilkinson Boulevard serves as a perfect example of how thoughtful business succession planning and structured buying and selling of businesses in Charlotte can preserve both community heritage and business value.
In April 2025, after nearly 50 years of ownership, Lacy and Blenda Walters finalized the sale of their business in Charlotte NC for $1.1 million, according to Mecklenburg County property records. Their transaction shows the critical role of experienced legal counsel and careful planning when selling a business in Charlotte.
Planning a Sale of Business in NC: A Real-Life Example
The Dairy Queen property, located at 2732 Wilkinson Boulevard, has long been a community landmark. Yet the Walters knew the time had come to transition ownership. Rather than accepting the highest offer, they prioritized a buyer committed to maintaining the business’s legacy as a Dairy Queen.
This decision underscores why business succession planning in Charlotte NC is so vital for entrepreneurs nearing retirement. The Walters worked to ensure their business would continue to thrive, benefiting the community that had supported them for decades.
The Role of Legal Advisors in the Sale of Business Transactions
Whether you are buying or selling a business in Charlotte, having legal guidance is essential. From negotiating terms to drafting the purchase agreement and navigating regulatory compliance, a skilled Charlotte business sale attorney ensures your interests are protected.
The Walters’ sale to Khan & Singh Property Management LLC, a Charlotte-based firm, is a case study in how thoughtful planning and structured agreements can result in a smooth transfer of business ownership in NC.
Business Continuity Through Proper Sale of Business Planning
This transaction also highlights the importance of including non-financial considerations in the sale of business negotiations. The Walters turned down a higher bid to protect the future of the business and its employees.
If you are considering selling a business in Charlotte, this example illustrates why both financial and legacy considerations should be part of your legal strategy.
Your Legal Partner for Buying and Selling Businesses in Charlotte
As Charlotte continues to grow and attract both local and national buyers, business owners must understand the legal complexities of a business sale in NC.
From letter of intent to closing documents, our law firm guides clients through every stage of business purchase and sale transactions in Charlotte. Whether you’re selling a local franchise or acquiring a new venture, our team provides the legal foundation for a successful transaction.
Contact us today if you are exploring the buying and selling of businesses in Charlotte or need assistance with business succession planning in Charlotte NC.
