814 Main St Mocksville, NC 27028-2650

Property Details for 814 Main St

Year built

1966

Construction

WOOD

Lot size

14.14 lot acres

Property size

9,600 SF

Zone code

NC

Property type

Warehouses

APN

J4120C0008

APU

J4120C0008

Description

This exceptional value-add investment opportunity presents a 93-unit boat and RV storage facility situated on 5.47 acres in Mocksville, North Carolina. The property, boasting 47,000 square feet of net rentable space, features seven single-story buildings constructed in 1966 and extensively renovated in 2023. Improvements exceeding $35,000 were recently completed, encompassing roof, gate, and door upgrades, enhancing security and functionality. The facility enjoys a 95% occupancy rate as of June 17, 2024, generating a strong net operating income (NOI) of $81,582 and a 6.00% cap rate. Priced at $1,359,000 ($28.68/sq ft and $14,613/unit), this property offers significant upside potential due to below-market rents. The property includes a mix of enclosed, covered, and open parking storage options, catering to diverse customer needs. A key advantage is the 250-linear-foot rail spur at the rear, connecting to major North Carolina railways. Additional commercial land is also available, presenting further expansion opportunities. Located less than a mile from downtown Mocksville and 13 miles from Bermuda Run, this property benefits from a strategic location within Davie County, a region with high demand for RV storage, and is less than 30 miles from Winston-Salem. The property is zoned NC and has a Parcel ID of J4-120-C0-008 J. This is a fee simple ownership opportunity with a gross lease type and multi-tenancy. The property's high barrier to entry for new developments ensures long-term value and stability.

Location Insight

City

Mocksville

County

Davie

State

North Carolina

Longitude

-80.5606

Latitude

35.8841

CBSA code

49180

CBSA name

WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments