1225 Montlieu Ave High Point, NC 27262

This exceptional value-add opportunity presents a two-tenant, 8,000 square foot retail building situated on a 0.51-acre lot in High Point, North Carolina. Currently boasting 100% occupancy since June 1, 2019, the property features two established tenants, a dry cleaner and a storage tenant, operating under month-to-month leases. The existing leases offer a significant upside potential, as they are currently below market rate, providing a unique chance for the new owner to renegotiate favorable long-term agreements. The building, classified as Class B, is a two-story structure with convenient features including 25 parking spaces and a roll-up drive-in door. The property is zoned COMM and has an APN of 7801-92-8851. The current NOI is $32,238, yielding a 6.45% cap rate, while the pro-forma NOI is projected at $49,000, resulting in a 9.80% pro-forma cap rate. Located just over a mile from High Point University, this property benefits from the significant growth and investment in the surrounding area, evidenced by an approximate 4,500 AADT. This presents a compelling investment opportunity with substantial potential for increased profitability through lease renegotiation and the inherent value-add potential. The asking price is $500,000, or $62.50 per square foot.