805-859 N. Center Street
805 N. Center Street Statesville NC 28677
- Price$2,800,000
- Acres3.29
Dollar Tree-anchored shopping center located in Statesville, NC on busy 14,000 VPD road. Minutes to I-40 and 40 miles to Charlotte, NC. This center provides stable income with significant upside potential. 7.32% Cap Rate on actuals with ±37% upside in further stabilization. Many recent capital improvements (over $200,000 in 2024 alone) include recent roof repairs/replacement, facade and parking reseal/restripe. Dollar Tree lease through 8/30/2026. Minimal nearby competition make this a great balance between stable in-place NOI and value add.
Details
Property Information
-
Property Type
Investment
-
Building SF
39,517
-
Year Built
1962
-
Acres
3.29
-
Property Subtype
Shopping Center/Retail
-
# of Buildings
4
Tax Information
-
Zoning
B-2
-
Tax PIN
4735602492
Pricing & Terms
-
Price
$2,800,000
-
NOI
$205,050
-
Proforma NOI
$288,455
-
Cap Rate (Actual)
7.32%
-
Cap Rate (Proforma)
10.28%
-
Comments
Dollar Tree-anchored shopping center located in Statesville, NC on busy 14,000 VPD road. Minutes to I-40 and 40 miles to Charlotte, NC. This center provides stable income with significant upside potential. 7.32% Cap Rate on actuals with ±37% upside in further stabilization. Many recent capital improvements (over $200,000 in 2024 alone) include recent roof repairs/replacement, facade and parking reseal/restripe. Dollar Tree lease through 8/30/2026. Minimal nearby competition make this a great balance between stable in-place NOI and value add.