552 Plz Dr Mooresville, NC 28115-8071

Property Details for 552 Plz Dr

Year built

1973

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.98 lot acres

Property size

3,657 SF

Zone code

CC

Property type

Banks

APN

4667-18-5263.000

APU

4667185263000

Description

This exceptional investment opportunity presents a fee-simple ownership of a 2,604 square foot Chase Bank located at 552 E Plaza Dr, Mooresville, NC 28115. The property sits on a 0.98-acre lot in a high-traffic retail corridor with a 0% vacancy rate within a one-mile radius, including prominent tenants such as Food Lion, McDonald's, KFC, and Dunkin'. Built in 1973 and renovated in 2024, this Class A retail property boasts a 15.2-year remaining lease term (commencing January 12, 2025, and expiring January 31, 2040) with a strong corporate guarantee from Chase Bank. The absolute NNN ground lease structure ensures zero landlord responsibilities. The property generates a Net Operating Income (NOI) of $140,000, resulting in a 4.95% cap rate. The lease includes 10% rent bumps every five years and five (5) five (5)-year option periods. This prime location at a lighted intersection of E. Plaza Drive (25,000 vehicles per day) and N Broad St (10,500 vehicles per day) offers excellent visibility and accessibility. The asking price is $2,828,000. This investment benefits from the robust growth of the Charlotte MSA, which has experienced significant population and job growth in recent years.