For Sale
$2,457,000

71 Rink Dam RdHickory, NC 28601

High-yield, corporate-guaranteed QSR.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a brand-new, 2,500-square-foot Starbucks located at 71 Rink Dam Rd, Hickory, NC 28601. Boasting a prime corner location at the signalized intersection of NC Hwy 127 and Rink Dam Rd (18,900 vehicles per day), this property offers unparalleled visibility and accessibility. The building, completed in 2024, is situated on a sizable 1.26-acre lot and includes 25 parking spaces. The property benefits from a new 10-year net lease (NN+) with Starbucks Corporation, a credit-rated tenant with a Baa1/BBB+ investment-grade credit rating and a corporate guarantee. The lease features a 5% rent increase every five years, ensuring consistent income growth. The current net operating income (NOI) is $149,887, resulting in a 6.10% cap rate. The property's strong performance is further supported by its location in an affluent area with an average household income exceeding $118,764 within a one-mile radius and over 6,500 homes within three miles. Proximity to Frye Regional Medical Center, Lenoir-Rhyne University, Lake Hickory, and Hickory High School, along with nearby destination retailers like Lowe's Foods and Dollar General, contributes to a robust and stable tenant base. The property is zoned for commercial use and offers excellent long-term investment potential. The lease has options for six, five-year renewals. This is a 100% ownership opportunity.

Highlights

  • High-visibility corner location at signalized intersection of NC Hwy 127 & Rink Dam Rd (18,900 VPD).
  • New 2024 construction, 2,500 SF Starbucks.
  • New 10-year net lease (NN+) with Starbucks Corporation, Baa1/BBB+ credit rating, corporate guarantee, 5% rent increases every five years, six five-year renewal options.
  • Strong demographics: $118,764 average household income within 1 mile, 6,500+ homes within 3 miles.
  • 1.26-acre lot with 25 parking spaces.

Property Details for 71 Rink Dam Rd

Property type
Retail properties
Square Feet
2,500 SF
Year Built
2024
Buildings
1
Lot Size (sq. ft)
54,886 SF
Units
1

Location Insight

City
Hickory
County
Alexander
State
North Carolina
Latitude
35.8158127
Longitude
-81.307493
71 Rink Dam Rd, Hickory, North Carolina

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71 Rink Dam Rd
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