1660 Us-64Mocksville, NC 27028

Property Details for 1660 Us-64

Year built

2023

Lot size

2.16 AC

Property size (Sq ft)

10,640 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

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.

Location Insight

City

Mocksville

County

Davie

State

North Carolina

Latitude

35.8834

Longitude

-80.5109

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