Current Use by Public Records
- Retail properties & Spaces
Property Details for 71 Rink Dam Rd
- Year built
- 2024
- Lot size
- 1.26 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a brand-new, 2,500-square-foot Starbucks located at 71 Rink Dam Rd, Hickory, NC 28601. Boasting a prime corner location at the signalized intersection of NC Hwy 127 and Rink Dam Rd (18,900 vehicles per day), this property offers unparalleled visibility and accessibility. The building, completed in 2024, is situated on a sizable 1.26-acre lot and includes 25 parking spaces. The property benefits from a new 10-year net lease (NN+) with Starbucks Corporation, a credit-rated tenant with a Baa1/BBB+ investment-grade credit rating and a corporate guarantee. The lease features a 5% rent increase every five years, ensuring consistent income growth. The current net operating income (NOI) is $149,887, resulting in a 6.10% cap rate. The property's strong performance is further supported by its location in an affluent area with an average household income exceeding $118,764 within a one-mile radius and over 6,500 homes within three miles. Proximity to Frye Regional Medical Center, Lenoir-Rhyne University, Lake Hickory, and Hickory High School, along with nearby destination retailers like Lowe's Foods and Dollar General, contributes to a robust and stable tenant base. The property is zoned for commercial use and offers excellent long-term investment potential. The lease has options for six, five-year renewals. This is a 100% ownership opportunity.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hickory
- County
- Alexander
- State
- North Carolina
- Longitude
- -81.3075
- Latitude
- 35.8158
