400 Henredon Rd Morganton, NC 28655
- Lifestyle centers
- 284,566 SF
- 61.26 lot acres
Current Use by Public Records
- Morganton Heights / Shopping Mall
- Murpny & Taylor Construction Co / Construction Company
Property Details for 400 Henredon Rd
- Year built
- 2013
- Lot size
- 61.26 lot acres
- Property size
- 284,566 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Morganton Heights, a 284,566 square foot shopping center in Morganton, NC (28655), is offered at $36,230,000. This net-lease investment boasts a 93.97% occupancy rate and is shadow-anchored by a high-performing Walmart Supercenter, ranking in the 91st percentile of North Carolina Walmart locations for annual visits. The center features a diverse mix of nationally recognized tenants including TJ Maxx, Ross Dress for Less, Dick's Sporting Goods, Belk, PetSmart, Staples, and more. Many key tenants are in their initial option periods, demonstrating long-term commitment. Recent lease extensions and an expansion by an existing tenant further solidify the property's strong performance. Built in 2013 on a 61.26-acre lot, the center provides 1,338 parking spaces and enjoys excellent accessibility via Interstate 40, a major East-West freeway system. Placer.ai data indicates approximately 5.1 million annual visitors, placing Morganton Heights in the top 25% of North Carolina power centers. Belk operates under a ground lease with a low rent, while average rents across the property are a defensible $11.67 per square foot. This stabilized, daily needs-focused power center presents a compelling investment opportunity.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Morganton
- County
- Burke
- State
- North Carolina
- Longitude
- -81.7019
- Latitude
- 35.7257
