400 Henredon RdMorganton, NC 28655

Property Details for 400 Henredon Rd

Year built

2013

Lot size

61.26 AC

Property size (Sq ft)

284,566 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Morganton Heights, a 284,566 square foot shopping center in Morganton, NC (28655), is offered at $36,230,000. This net-lease investment boasts a 93.97% occupancy rate and is shadow-anchored by a high-performing Walmart Supercenter, ranking in the 91st percentile of North Carolina Walmart locations for annual visits. The center features a diverse mix of nationally recognized tenants including TJ Maxx, Ross Dress for Less, Dick's Sporting Goods, Belk, PetSmart, Staples, and more. Many key tenants are in their initial option periods, demonstrating long-term commitment. Recent lease extensions and an expansion by an existing tenant further solidify the property's strong performance. Built in 2013 on a 61.26-acre lot, the center provides 1,338 parking spaces and enjoys excellent accessibility via Interstate 40, a major East-West freeway system. Placer.ai data indicates approximately 5.1 million annual visitors, placing Morganton Heights in the top 25% of North Carolina power centers. Belk operates under a ground lease with a low rent, while average rents across the property are a defensible $11.67 per square foot. This stabilized, daily needs-focused power center presents a compelling investment opportunity.

Location Insight

City

Morganton

County

Burke

State

North Carolina

Latitude

35.7257

Longitude

-81.7019

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