71 Rink Dam RdHickory, NC 28601

Property Details for 71 Rink Dam Rd

Year built

2024

Lot size

1.26 AC

Property size (Sq ft)

2,500 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Hickory

County

Alexander

State

North Carolina

Latitude

35.8158

Longitude

-81.3075

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