159 Cooper Dr Henderson, NC 27536
- Lifestyle centers
- 7,216 SF
- 0.96 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 159 Cooper Dr
- Year built
- 1999
- Lot size
- 0.96 lot acres
- Property size
- 7,216 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 7,216 square foot shopping center in Henderson, NC, presents a compelling investment opportunity. Located at 159 N Cooper Dr, this fee-simple property boasts a 100% occupancy rate with two credit-rated corporate tenants, T-Mobile and Mattress Firm, under NNN leases with a remaining term of 9 years. The property features a 6.75% cap rate and a strong NOI of $240,287. Built in 1999 and extensively renovated in 2022, the center benefits from a prime location across from Walmart Supercenter and Henderson Square, ensuring high visibility and traffic. Convenient access from I-85 and US-158 Bypass further enhances its appeal. Both tenants have brand-new 10-year leases with 10% rent escalations starting in year six. The property's proximity to major employers, including Maria Parham Health Hospital and Vance-Granville Community College, contributes to its stable tenant base. The NNN lease structure minimizes landlord responsibilities, and the recent renovations eliminate near-term capital expenditure needs. The 0.96-acre lot provides ample space, and the asking price is $3,560,000. This stabilized investment offers a secure and profitable return with significant upside potential. Rent bumps are detailed in the offering memorandum. APN: 0033A 01 0005.
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
- Henderson
- County
- Vance
- State
- North Carolina
- Longitude
- -78.4408
- Latitude
- 36.3348
