400 Henredon Rd Morganton, NC 28655

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.