Charlotte CSA Retail Center | $518K NOI | 78% Nationals | 5.8 Yr WALT

Highlights:

• 93.9% Occupied Neighborhood Retail Center: ±99,100 SF asset generates approximately $518K in-place NOI with diversified tenancy
• ±5.8-Year WALT with Built-In Rent Growth: Staggered expirations, rent increases, reimbursements, and options support durable cash flow
• National and Regional Tenant Roster: Ollie’s, Kimbrell’s, Planet Fitness, and Dollar General occupy approximately 78.1% of GLA
• Defined Lease-Up and Outparcel Upside: ±6,000 SF vacancy and potential pad development create multiple paths to incremental NOI growth
• Primary Morganton Retail Corridor Position: W Union Street/US-70 and W Fleming Drive provide ±35,900 combined VPD near major retailers
• Regional Retail and Interstate Access: ±0.5 miles from Morganton Heights and ±2 miles from I-40, with Asheville ±55 miles west

Description:

View details and diligence materials on RI Marketplace:
https://rimarketplace.com/auction/3393/retail/morganton/nc?utm_source=brevitas&utm_medium=paid_listing&utm_campaign=october21_2026&utm_content=retail_3393

Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, Mimosa Hills Shopping Center is a ±99,100-square-foot neighborhood retail center located at 903-915 W Union Street in Morganton, North Carolina. The Property is ±93.9% occupied and generates approximately $518,000 in in-place budgeted NOI, anchored by Ollie’s, Kimbrell’s, Planet Fitness, and Dollar General, which collectively occupy ±78.1% of GLA. Situated on ±9.59 acres, the center includes 390 parking spaces, prominent signage, multiple access points, a ±6,000-square-foot vacancy, and potential outparcel development. Renovated in 2025 following Hurricane Helene-related flooding, all displaced tenants returned after restoration, generally at rents equal to or above prior levels. The Property fronts W Union Street/US-70 near W Fleming Drive, where combined traffic reaches approximately 35,900 VPD, and sits ±0.5 mile from Walmart-anchored Morganton Heights and ±2 miles from I-40. High Intensity District zoning supports continued retail and commercial use, subject to applicable restrictions and approvals.

Location
Morganton is the Burke County seat and a key commercial and employment hub within western North Carolina’s Hickory-Lenoir-Morganton region. I-40 provides direct regional access, with Hickory ±20 miles east, Asheville ±55 miles west, and Charlotte ±75 miles southeast. Major employers span healthcare, manufacturing, education, government, and retail.


Bidding Opens
Oct 19 6:00 PM
Bidding Closes
Oct 21 6:00 PM

Documents: