Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell Inc., as exclusive advisors to Seller, is pleased to present the opportunity to acquire a fee simple interest in a Tesla sales, delivery, and service center located within a prime retail corridor in High Point, North Carolina (the “Property”). The Property is secured by a long-term corporate lease with Tesla, Inc., which completely redeveloped the Property in 2023, including a new roof, HVAC units and a full interior renovation, and took occupancy subject to a 15-year lease which has approximately 13 years of term remaining. The lease carries attractive 3.0% annual rent increases throughout the base term and option periods, providing investors with NOI growth of 38% throughout the base term, yielding nearly an 8.00% cap rate by 2038.
Tesla, Inc. (NASDAQ: TSLA) ranks as the 10th most valuable company in the world with a market capitalization of $1.5 Trillion and carries an investment grade credit rating (S&P: BBB). Tesla is nearly 5 times larger than the next closest automaker, Toyota, by market capitalization ($300 Billion). Tesla commands roughly 60% of the U.S. electric vehicle market, over 22 times the share of its nearest competitor, cementing its position as the dominant force in domestic EV adoption. Beyond its core automotive platform, Tesla continues to expand across energy storage, artificial intelligence, and robotics, with its energy storage segment posting record gross profit for the 5th consecutive quarter, reinforcing the company’s growth trajectory and financial security.
The Property sits on a large 5.84-acre parcel that occupies an entire signalized corner at a prominent intersection along Main Street (36.3k VPD) in the heart of High Point’s commercial retail trade corridor – situated between a Walmart Supercenter and a high-performing Lowe’s (ranked 96th percentile nationally, Placer.ai). The Property’s site plan ideally benefits Tesla’s SSL business model with 253 exclusive parking spaces and two, prime outparcel lots fronting Main Street, which Tesla sought to control in an effort to maximize visibility and parking count. Investors will benefit from the implied value in the outparcels, and the extremely fungible site plan afforded by the Property’s unique shopping center layout, and no REA/OEA restrictions from the neighboring centers which could impede or hinder redevelopment. The Property’s evolution, from grocery-anchored shopping center to Gold’s Gym, demonstrates the adaptive reuse potential that positions it for sustained long-term value appreciation.
The surrounding trade area has experienced a significant acceleration in electric vehicle ownership, increasing nearly six-fold over the past five years and 45% year-over-year, far outpacing the national EV adoption rate. With Tesla capturing more than 70% of North Carolina’s EV ownership and the nearest Tesla service center located over 75 miles away, the Property serves as the exclusive sales, delivery, and service hub for the entire 1.76 million resident Piedmont Triad MSA, helping secure long-term viability for the asset well beyond Tesla’s occupancy period.
The Piedmont Triad represents one of the densest interstate concentrations in the Southeast, with four major interstates, (I-40, I-73, I-74, I-85), converging in the region to create a national logistics and distribution corridor. Ongoing infrastructure investment, including the recently completed $146M Rockingham Bypass and the continued buildout of the I-74, further reinforces the region’s long-term economic relevance. Locally, the High Point economy is anchored by the High Point Market, the world’s largest furniture trade show, which generates over $6.73B in annual economic impact and supports more than 42,000 local jobs. Complementing this is High Point University (HPU), ranked #1 as the “best-run college in the nation” by the Princeton Review in 2024 and 2025, and contributes nearly $500 million in economic impact annually to the region. HPU is currently in the middle of a $400M renovation/expansion that involves the creation of new academic, residential, and student facilities, in addition to a new $100M, 150,000 SF 4-story library.
Supported by investment-grade tenancy, premium rent growth, and excellent real estate fundamentals, this offering represents an exceptional opportunity to acquire a strategically positioned, single-tenant Tesla asset within one of the Southeast’s most economically resilient and high growth regions.