For Auction
Charlotte CSA Retail Center | $518K NOI | 78% Nationals | 5.8 Yr WALT
Morganton, NC 28655Represented by
Marcus & Millichap
Asset Snapshot
Investment Highlights
Offering Summary
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.
Due Diligence
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.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
