135 S Main St - Hospitality CONDO FOR SALE


High Point, NC 27260- Downtown High Point
$8,300,000 USD
843-345-5333
135 S Main St, High Point, NC for Sale
$8,300,000 USD
Hospitality CONDO - FOR SALE
1/19
null | 12.05% Cap Rate

135 S Main St
High Point, NC 27260
Downtown High Point


HIGHLIGHTS

  • Prime Investment Opportunity | Multi-Tenant Retail/Showroom in the Greensboro-High Point MSA
  • Rare Opportunity to Acquire a Ground Level Showroom Asset Structurally Connected to a Future High-Quality Hotel Redevelopment
  • Strong Tenancy Including Karat Home (Z Gallerie) & The Phillips Collection | All Leases Feature 3% Annual Escalations
  • Upside Opportunity by Leasing the Basement Showroom | Three Retail Access Points with Dual Street Exposure
  • Located in the Heart of High Point’s Market District | Furniture Capital of the World
  • In Between the 3.5M SF International Home Furnishings Center Owned by Blackstone & the 400,000+ SF Showplace Center

OVERVIEW

Northmarq is pleased to present to qualified investors the opportunity to acquire the fee simple interest in the multi-tenant showroom asset located at 135 S Main Street, in High Point, North Carolina. The newly renovated showrooms are occupied by quality tenants including Karat Home, Inc. (Z Gallerie), The Phillips Collection, and High Point Exhibition. With a weighted average lease term of over three years, all leases feature 3% annual escalations and two, 5-year renewal options. The basement space is being converted into a showroom and offers substantial upside opportunity through future lease-up. Ownership is actively evaluating the feasibility of converting the space into additional showroom square footage to further increase income. Located in the heart of downtown High Point’s Market District, the condo sits between the International Home Furnishings Center (3.5 million square feet) and The Showplace (400,000 square feet), both of which serve as anchor venues for the High Point Market.

FOR SALE DETAILS

PRICE

$8,300,000 USD

PRICE/SF

$177 USD /SF

CAP RATE

12.05%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Craftsman Multitenant Retail

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

181,395 SF

STORIES

8

BUILDING CLASS

B

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.51 AC

LAND SF

65,776 SF

ZONING

CB

APN/PARCEL ID

0171406

ASK ABOUT THIS PROPERTY

Ani PaulsonNorthmarqMore Info
843-345-5333

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Ani PaulsonNorthmarqMore Info
843-345-5333

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.