1660 Us-64Mocksville, NC 27028

For Sale
$1,791,000
High-Yield NNN Retail Property in NC

Overview

Added:
Dec 11, 2024
Days on market:
126
Exceptional investment opportunity: a 10,640 square foot Dollar General store in Mocksville, NC, boasting a 6.75% cap rate and a substantial $120,876 annual net operating income (NOI). This 2023-built property sits on a 2.16-acre lot and benefits from a 13.4-year remaining lease term (expiring 04/29/2038) with a corporate guarantee from Dollar General, a Fortune 500 company with an S&P investment-grade credit rating of BBB. The lease features five, 5-year options with 10% rent increases during each option period, ensuring consistent income growth. The property enjoys a prime location off Interstate 40 (39,500 vehicles per day) and Highway 64 (15,500 vehicles per day), within the Winston-Salem MSA, North Carolina's fifth-largest city and a major economic hub. The area is home to numerous national retailers and significant employers, including Wake Forest University and Wake Forest Baptist Medical Center. This absolute NNN lease structure means the tenant is responsible for all operating expenses, including taxes, insurance, and building maintenance, minimizing landlord responsibilities. The property's strong tenant, favorable lease terms, and strategic location make it an ideal addition to any diversified investment portfolio. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset with significant long-term growth potential. The property is located at 1660 US-64, Mocksville, NC 27028.

Highlights

  • 2023-built, 10,640 SF Dollar General in Winston-Salem, NC MSA. Rent commenced June 2023.
  • Located off I-40 (39,500 VPD) and Highway 64 (15,500 VPD), 20 miles southwest of downtown Winston-Salem. Part of the Winston-Salem MSA, the second largest city in the Piedmont Triad region and fifth largest in North Carolina.
  • High-traffic location with national retailers nearby including Lowe's, Food Lion, Tractor Supply, and more.
  • 14-year remaining term on a 15-year corporate guaranteed NNN lease with Dollar General. 10% rent increases every five years.
  • Investment-grade tenant (S&P: BBB). Dollar General is a Fortune 500 company with over 20,000 locations.

Property Details for 1660 Us-64

Property type
Retail properties, Grocery and convenience stores
Square Feet
10,640 SF
Year Built
2023
Lot Size (sq. ft)
94,090 SF

Location Insight

City
Mocksville
County
Davie
State
North Carolina
Latitude
35.883446
Longitude
-80.510931
1660 Us-64, Mocksville, North Carolina

FAQs

What type of property is this?
Retail property - High-Yield NNN Retail Property in NC
Where is the retail property located?
The property is located at 1660 Us-64 Mocksville, NC.
What is the asking price?
The asking price for this property is $1,791,000.
What are key features of this property?
This property features: 2023-built, 10,640 SF Dollar General in Winston-Salem, NC MSA. Rent commenced June 2023.; Located off I-40 (39,500 VPD) and Highway 64 (15,500 VPD), 20 miles southwest of downtown Winston-Salem. Part of the Winston-Salem MSA, the second largest city in the Piedmont Triad region and fifth largest in North Carolina.; High-traffic location with national retailers nearby including Lowe's, Food Lion, Tractor Supply, and more.
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1660 Us-64
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