It seems to me that the owners of this property are just waiting until the time comes to knock the building down. The property next door was recently demolished.
This hotel (more like a motel, really, with room access from outside) is cheap and in a great location (walk to downtown no problem), but it's sorely in need of maintenance. I also agree that there is a mold or other air-quality related issue. My room was musty at best, and there were some other regrettable odors, too.
In all candor, I opted not to sleep in the bed. If I had tongs, I would have used them instead of my fingers to remove the bedspread (which had stains aplenty). I then slept in my clothes on top of the bed. I then seriously considered burning the clothes when I returned home.
My guess is that most guests don't have a car with them, but know this if you have a vehicle in Charlotte. This property rents most of its spaces to monthly parkers, so if you get there with your car before 5PM, you might have trouble finding a space until the commuters begin to go home. I got there at 4:15PM, and there was only one space available. In addition, parking costs $6. Some people think that's ridiculous to have to pay for parking, but I've certainly paid for parking at other hotels.