814 Main St Mocksville, NC 27028-2650

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.