Fully Leased Multi-Tenant Strip
For Sale
Contact for pricing
104 Huffman Mill Road, Burlington, NC 27215
B-2-zoned retail property with established national and regional tenancy.
Property Size13,848 SF
Price / SF$382.73
Days on Market104
Property Features for 104 Huffman Mill Road
General Information
Standard status
Active
Size
13,848 SF
Property subtype
Retail
Zoning
B-2
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$345,430
Site & Location
Anchor Co-Tenants
FastMed Urgent Care, Mattress Warehouse, Cielito Taqueria + Bar
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1999
Tenancy
Multi
Listing Agency:
Rich Commercial Realty
(919) 821-7880
Listed By:
Sam DiFranco Jr · License #NC 270959
Source:
Crexi
Added: May 19
Changed: Aug 30
Last Checked: Aug 30 at 1:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rich Commercial Realty
Investment Insights
Based on property information with market context.
This 13,848-square-foot strip center, built in 1999, is configured for multi-tenant retail use and is currently 100% leased. The tenant roster includes FastMed Urgent Care, Mattress Warehouse, and Cielito Taqueria + Bar, combining medical, retail, and restaurant occupancy within one property.
The center is positioned along US Highway 70 in Burlington, North Carolina, with access to a primary retail corridor. It serves as an outparcel to Lowe’s Home Improvement and sits across from Publix, placing the property among established national retailers, restaurants, and service providers. B-2 zoning supports its commercial retail classification.
The center is positioned along US Highway 70 in Burlington, North Carolina, with access to a primary retail corridor. It serves as an outparcel to Lowe’s Home Improvement and sits across from Publix, placing the property among established national retailers, restaurants, and service providers. B-2 zoning supports its commercial retail classification.
Key Highlights
- 13,848‑square‑foot multi‑tenant strip center built in 1999
- 100% leased to FastMed Urgent Care, Mattress Warehouse, and Cielito Taqueria + Bar
- B‑2 zoning supports the property’s commercial retail classification
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$272,516
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,450,320
$5.5M
Cap Rate 7%
$3,893,086
$3.9M
Cap Rate 9%
$3,027,956
$3.0M
Market Conditions
NOI Build-Up for 13,848 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$415.4K $30.00/SF
− Vacancy
−$26.1K −$1.89/SF
EGI
$389.3K $28.11/SF
− OpEx
−$116.8K −$8.43/SF
NOI
$272.5K $19.68/SF
Area
Alamance County, NC
Vacancy
6.29%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,450,320
Cap Rate 7%
$3,893,086
Cap Rate 9%
$3,027,956
Alternative Uses
Best Use
Retail
$3.89M
$3.41M – $4.54M
NOI $272,516 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.57M
$3.99M – $5.33M
NOI $319,595 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
875
Businesses Nearby
403k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Groceries 25%
Shops & Services 15%
Home Improvements & Furnishings 14%
Lowe's
Home Improvements & Furnishings
56,709 visits/mo
0.1 miles
Harris Teeter
Groceries
55,241 visits/mo
0.2 miles
Publix
Groceries
47,115 visits/mo
0.2 miles
Starbucks
Dining
29,292 visits/mo
0.5 miles
LongHorn Steakhouse
Dining
23,685 visits/mo
0.2 miles
Demographics for 27215, NC
44,620
Population
21,854
Households
2
Avg Household Size
42
Median Age
37%
College-Educated
92%
High-School Grad
63.1 sq mi
ZIP Area
707
Density / Sq Mi
$66,669
Median Household Income
$45,267
Median Earnings
$1,112
Median Rent
$241,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - B-2-zoned retail property with established national and regional tenancy.
Where is this strip mall located?
The property is located at 104 Huffman Mill Road Burlington, NC.
What is the asking price?
The asking price for this property is $5,300,000.
What are key features of this property?
This property features: 13,848‑square‑foot multi‑tenant strip center built in 1999; 100% leased to FastMed Urgent Care, Mattress Warehouse, and Cielito Taqueria + Bar; B‑2 zoning supports the property’s commercial retail classification
