3219 Watermill Dr - Freestanding FOR SALE


Burlington, NC 27215
$7,234,000 USD
980-498-3293
3219 Watermill Dr, Burlington, NC for Sale
$7,234,000 USD
Freestanding - FOR SALE
1/3
null | 6.35% Cap Rate

3219 Watermill Dr
Burlington, NC 27215


HIGHLIGHTS

  • STRONG PERFORMING STORE
  • FREESTANDING BIG-BOX ASSET IN REGIONAL HUB
  • LONG-TERM LEASE COMMITMENT
  • INSTITUTIONAL-QUALITY CREDIT TENANT
  • FAVORABLE CAPITAL MARKETS CONDITIONS

OVERVIEW

Atlantic Capital Partners is pleased to present a freestanding Hobby Lobby in Burlington, NC. This top performing store ranks in the 91st percentile nationally per PlacerAI and the tenant recently executed a long-term extension, ensuring durable cash flow. Strategically located in Burlington’s dominant retail corridor, the property benefits from strong co-tenancy, regional draw, and excellent visibility. This asset benefits from pylon sign rights on I-40 (130k+ VPD), University Dr (40k), and Garden Rd. Hobby Lobby, with 1,000+ stores nationwide and $8 billion in 2024 revenues, represents institutional-quality tenancy that is committed to the location. With long-term lease stability from a high performing national retailer, this asset offers investors a compelling opportunity for secure income in a growing, high demand North Carolina market.

FOR SALE DETAILS

PRICE

$7,234,000 USD

PRICE/SF

$138 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

399

LAND DETAILS

LAND ACRES

4.78 AC

LAND SF

208,217 SF

ZONING

CB

APN/PARCEL ID

112506

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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