Auction - Charlotte CSA Retail Center | $518K NOI |… — Sale in Morganton, NC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Morganton, NC 28655

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Description

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/3393/retail/morganton/nc Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, Mimosa Hills Shopping Center is a ±99,100-square-foot neighborhood retail center located at 903-915 W Union Street in Morganton, North Carolina. The Property is ±93.9% occupied and generates approximately $518,000 in in-place budgeted NOI, anchored by Ollie’s, Kimbrell’s, Planet Fitness, and Dollar General, which collectively occupy ±78.1% of GLA. Situated on ±9.59 acres, the center includes 390 parking spaces, prominent signage, multiple access points, a ±6,000-square-foot vacancy, and potential outparcel development. Renovated in 2025 following Hurricane Helene-related flooding, all displaced tenants returned after restoration, generally at rents equal to or above prior levels. The Property fronts W Union Street/US-70 near W Fleming Drive, where combined traffic reaches approximately 35,900 VPD, and sits ±0.5 mile from Walmart-anchored Morganton Heights and ±2 miles from I-40. High Intensity District zoning supports continued retail and commercial use, subject to applicable restrictions and approvals. Investment Highlights: • STARTING BID $1,750,000 | Charlotte CSA Retail Center | $518K NOI | 78% Nationals | 5.8 Yr WALT | AUCTION OCTOBER 19-21 • 93.9% Occupied Neighborhood Retail Center - ±99,100 SF asset generates approximately $518K in-place NOI with diversified tenancy • ±5.8-Year WALT with Built-In Rent Growth - Staggered expirations, rent increases, reimbursements, and options support durable cash flow • National and Regional Tenant Roster - Ollie's, Kimbrell's, Planet Fitness, and Dollar General occupy approximately 78.1% of GLA • Defined Lease-Up and Outparcel Upside - ±6,000 SF vacancy and potential pad development create multiple paths to incremental NOI growth • Primary Morganton Retail Corridor Position - W Union Street/US-70 and W Fleming Drive

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