1329 Innes St Salisbury, NC 28146-6001

Property Details for 1329 Innes St

Year built

2015

Lot size

0.37 lot acres

Property size

5,124 SF

Zone code

B6

Property type

Retail space

APN

059 064

APU

59064

Description

This exceptional Class A retail investment presents a compelling opportunity. The 5,000 square foot storefront, located at 1329 E Innes St, Salisbury, NC 28146, is a single-tenant, net-lease property occupied by Mattress Firm, the nation's largest multi-brand mattress retailer. Built in 2016 on a 0.64-acre lot, the property boasts a strong corporate guarantee and a lease extending until March 31, 2031, offering a remaining term of 6.4 years. The current annual net operating income (NOI) is $137,500, yielding a 7.25% cap rate. The lease includes 10% rent bumps at each option period. This strategically located property benefits from high visibility and accessibility, situated at a hard corner with daily traffic counts exceeding 41,000 vehicles, and direct access to I-85 (68,000+ vehicles per day). The property is part of the Innes Street Market, a 349,000+ square foot shopping center anchored by Lowe's and Food Lion, and surrounded by numerous national retailers. Its proximity to major roadways, a significant population base including several schools and the Hefner VA Medical Center, and Mid-Carolina Regional Airport further enhances its value and potential for long-term growth. The roof warranty is in place until 2030. The asking price is $1,896,552. This is a rare opportunity to acquire a high-performing, stable investment in a thriving retail corridor.

Location Insight

City

Salisbury

County

Rowan

State

North Carolina

Longitude

-80.4579

Latitude

35.6548

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments