Neighborhood Shopping Center with
New
For Sale
$1,750,000
903 W Union St, Morganton, NC 28655
Anchored by four national retailers, the center offers multiple access points, prominent signage, and continued retail use under High Intensity District zoning.
Property Size99,100 SF
Lot Size9.59 Acres
Price / SF$17.66
Days on Market3
Property Features for 903 W Union St
General Information
Standard status
Active
Size
99,100 SF
Total Parking Spaces
390
Lot size
9.59 Acres
Property subtype
Shopping Neighborhood
Zoning
High Intensity District
Occupancy
94%
Net Operating Income
$518,000
Site & Location
Anchor Co-Tenants
Ollie’s, Kimbrell’s, Planet Fitness, Dollar General
Traffic Count
35,900 vehicles/day
Road Access
Yes
Amenities
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 provide ±35,900 combined VPD near major retailers
Regional Retail and Interstate Access - ±0.5 miles from Morganton Heights and ±2 miles from I-40, with Asheville ±55 miles west
Building Details
Building Size
99,100 SF
Year Built
1986
Year Renovated
2025
Tenancy
Multi
Listing Agency:
Fort Lauderdale Office
Listed By:
Philip Kates · License #License(s): FL: SL3235872, NC: LC1044
(954) 245-3408
Source:
Marcusmillichap
Added: Sep 19
Last Checked: Sep 21 at 3:41AM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
Mimosa Hills Shopping Center is a ±99,100-square-foot neighborhood retail center built in 1986 on ±9.59 acres. The property is approximately 93.9% occupied and includes 390 parking spaces, prominent signage, multiple access points, a ±6,000-square-foot vacancy, and potential outparcel development. Ollie’s, Kimbrell’s, Planet Fitness, and Dollar General together occupy approximately 78.1% of the center’s gross leasable area.
The center occupies 903-915 W Union Street in Morganton, North Carolina, near W Fleming Drive and US-70. Combined traffic at the nearby location is approximately 35,900 VPD. Walmart-anchored Morganton Heights is ±0.5 mile away, while I-40 is approximately ±2 miles from the property. High Intensity District zoning supports continued retail and commercial use, subject to applicable restrictions and approvals. Restoration following Hurricane Helene-related flooding was completed in 2025, and displaced tenants returned after the work was finished.
The center occupies 903-915 W Union Street in Morganton, North Carolina, near W Fleming Drive and US-70. Combined traffic at the nearby location is approximately 35,900 VPD. Walmart-anchored Morganton Heights is ±0.5 mile away, while I-40 is approximately ±2 miles from the property. High Intensity District zoning supports continued retail and commercial use, subject to applicable restrictions and approvals. Restoration following Hurricane Helene-related flooding was completed in 2025, and displaced tenants returned after the work was finished.
Key Highlights
- ±99,100‑square‑foot neighborhood retail center on ±9.59 acres
- Approximately 93.9% occupied with 390 parking spaces
- Ollie’s, Kimbrell’s, Planet Fitness, and Dollar General occupy approximately 78.1% of GLA
Property Analytics
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Open Analytics
Current Use
Lease Details
35,900 VPD
Traffic count
93.9%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
696
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
City Electric Supply
Home Improvements & Furnishings
696 visits/mo
0.4 miles
Demographics for 28655, NC
55,328
Population
24,542
Households
2.3
Avg Household Size
43
Median Age
21%
College-Educated
84%
High-School Grad
325.0 sq mi
ZIP Area
170
Density / Sq Mi
$53,464
Median Household Income
$34,191
Median Earnings
$827
Median Rent
$170,400
Median Home Value
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - Anchored by four national retailers, the center offers multiple access points, prominent signage, and continued retail use under High Intensity District zoning.
Where is this shopping center located?
The property is located at 903 W Union St Morganton, NC.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: ±99,100‑square‑foot neighborhood retail center on ±9.59 acres; Approximately 93.9% occupied with 390 parking spaces; Ollie’s, Kimbrell’s, Planet Fitness, and Dollar General occupy approximately 78.1% of GLA
