2570 Carolina 8 & 89 Hwy Walnut Cove, NC 27052
- Retail properties
- 10,500 SF
Current Use by Public Records
- Retail properties
Property Details for 2570 Carolina 8 & 89 Hwy
- Year built
- 2022
- Property size
- 10,500 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 10,500 square foot retail property in Walnut Cove, NC, housing a Family Dollar Tree combination store. Built in 2022, the property boasts a 10-year Net Lease (NN+) with a credit-rated, corporate-guaranteed tenant, minimizing landlord responsibilities. The lease commenced January 27, 2022, and expires January 31, 2032, offering a substantial remaining lease term of 7.5 years. The asking price is $1,441,078, representing an attractive 8.35% cap rate based on a current Net Operating Income (NOI) of $120,330. The lease includes five, five-year options with rent increases of $5,250 (or $0.50 per square foot) at each renewal. The property is located at 2570 North Carolina 8 & 89 Highway South, Walnut Cove, NC 27052, approximately 25 miles north of Winston-Salem. Family Dollar Tree combination stores have demonstrated a 20% higher sales volume compared to non-co-branded stores. Dollar Tree, the parent company, holds an investment-grade credit rating of BBB- and has shown remarkable resilience and growth, even during the COVID-19 pandemic. This property offers a secure, high-yield investment with a strong, nationally recognized tenant and significant upside potential through lease options. The 100% occupancy ensures immediate cash flow.
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
- Walnut Cove
- County
- Stokes
- State
- North Carolina
- Longitude
- -80.1821
- Latitude
- 36.3693
