1307 King St Windsor, NC 27983

Property Details for 1307 King St

Year built

2012

Lot size

1.64 lot acres

Property size

8,000 SF

Property type

Grocery and convenience stores

Description

This exceptional investment opportunity presents a fee-simple ownership of an 8,000-square-foot retail property located at 1307 S King St, Windsor, NC 27983. The property, built in 2012 and situated on a sizable 1.64-acre corner lot, is currently 100% occupied by a Family Dollar store under a Net Lease (NN+) agreement. The lease, originally commencing March 12, 2014, includes a corporate guarantee from Family Dollar Stores, Inc. The tenant recently exercised their first renewal option, resulting in a 10% rent increase. The current lease term extends until March 30, 2028, offering a remaining lease term of approximately 3.4 years. The property boasts a strong net operating income (NOI) of $90,341, translating to a compelling 7.75% capitalization rate. The asking price is $1,165,690, representing a price per square foot of $145.71. Future rent increases are built into the lease with a 10% bump every five years. The property's strategic location is directly adjacent to ECU Health Hospital, ensuring high visibility and foot traffic. This is a rare opportunity to acquire a stable, high-performing retail investment with a strong tenant and significant upside potential.