2570 Carolina 8 & 89 HwyWalnut Cove, NC 27052

Property Details for 2570 Carolina 8 & 89 Hwy

Year built

2022

Property size (Sq ft)

10,500 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 10,500 square foot retail property in Walnut Cove, NC, housing a Family Dollar Tree combination store. Built in 2022, the property boasts a 10-year Net Lease (NN+) with a credit-rated, corporate-guaranteed tenant, minimizing landlord responsibilities. The lease commenced January 27, 2022, and expires January 31, 2032, offering a substantial remaining lease term of 7.5 years. The asking price is $1,441,078, representing an attractive 8.35% cap rate based on a current Net Operating Income (NOI) of $120,330. The lease includes five, five-year options with rent increases of $5,250 (or $0.50 per square foot) at each renewal. The property is located at 2570 North Carolina 8 & 89 Highway South, Walnut Cove, NC 27052, approximately 25 miles north of Winston-Salem. Family Dollar Tree combination stores have demonstrated a 20% higher sales volume compared to non-co-branded stores. Dollar Tree, the parent company, holds an investment-grade credit rating of BBB- and has shown remarkable resilience and growth, even during the COVID-19 pandemic. This property offers a secure, high-yield investment with a strong, nationally recognized tenant and significant upside potential through lease options. The 100% occupancy ensures immediate cash flow.

Location Insight

City

Walnut Cove

County

Stokes

State

North Carolina

Latitude

36.3693

Longitude

-80.1821

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