159 Cooper DrHenderson, NC 27536

Property Details for 159 Cooper Dr

Year built

1999

Lot size

0.96 AC

Property size (Sq ft)

7,216 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This 7,216 square foot shopping center in Henderson, NC, presents a compelling investment opportunity. Located at 159 N Cooper Dr, this fee-simple property boasts a 100% occupancy rate with two credit-rated corporate tenants, T-Mobile and Mattress Firm, under NNN leases with a remaining term of 9 years. The property features a 6.75% cap rate and a strong NOI of $240,287. Built in 1999 and extensively renovated in 2022, the center benefits from a prime location across from Walmart Supercenter and Henderson Square, ensuring high visibility and traffic. Convenient access from I-85 and US-158 Bypass further enhances its appeal. Both tenants have brand-new 10-year leases with 10% rent escalations starting in year six. The property's proximity to major employers, including Maria Parham Health Hospital and Vance-Granville Community College, contributes to its stable tenant base. The NNN lease structure minimizes landlord responsibilities, and the recent renovations eliminate near-term capital expenditure needs. The 0.96-acre lot provides ample space, and the asking price is $3,560,000. This stabilized investment offers a secure and profitable return with significant upside potential. Rent bumps are detailed in the offering memorandum. APN: 0033A 01 0005.

Location Insight

City

Henderson

County

Vance

State

North Carolina

Latitude

36.3348

Longitude

-78.4408

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