9105 Pineville-Matthews Rd Pineville, NC 28134

Property Details for 9105 Pineville-Matthews Rd

Year built

2004

Lot size

0.72 lot acres

Property size

4,000 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional retail investment opportunity presents the Terraces Shops, a 4,000 square foot shopping center located in Pineville, North Carolina. Boasting a 100% occupancy rate with two strong tenants, T-Mobile and Sabor Latin Street Grill, this property generates a substantial Net Operating Income (NOI) of $130,833, representing a compelling 6.25% capitalization rate. Built in 2004, the single-story building sits on a 0.718-acre lot and includes 22 parking spaces. The property benefits from a highly desirable location, situated on Pineville-Matthews Road, directly across from the 307-bed Atrium Health Pineville hospital, which recently expanded with a new eight-story patient tower. This proximity to a major medical facility ensures a consistent flow of daytime traffic. Furthermore, the center's strategic location off the NC-51 interchange of I-485, a major thoroughfare with 175,500 combined vehicles per day, provides excellent visibility and accessibility. The affluent surrounding area, with average household incomes exceeding $95,000 within a one-mile radius and significantly higher in nearby Quail Hollow and Ballantyne, contributes to strong tenant performance. Placer.ai data indicates substantial year-over-year foot traffic increases for both tenants, exceeding 23% for T-Mobile and 29.6% for Sabor. The property is a triple-net (NNN) lease, and rent bumps are included in the lease agreements. This turnkey investment offers a rare combination of strong financial performance, excellent location, and significant growth potential. The property features a total of two units.