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MTNL | Asheboro, NC | NNN 1334 E Dixie Dr 9,442 SF 100% Leased Retail Building Asheboro, NC 27203 $5,403,130 ($572.24/SF) 5.75% Cap Rate
Investment Highlights
- NEW 15-YEAR CHASE LEASE | INVESTMENT-GRADE CREDIT ANCHOR
- BELOW-MARKET IN-PLACE RENTS | RENEWAL PROBABILITY & UPSIDE
- 100% LEASED TO NATIONAL TENANCY | DIVERSIFIED INCOME STREAM
Executive Summary
- AT&T and Mattress Warehouse are both operating below current market rental rates, creating a compelling incentive for long-term tenancy while providing investors with meaningful mark-to-market upside upon future lease rollover.
**NEW 15-YEAR CHASE LEASE | INVESTMENT-GRADE CREDIT ANCHOR**
- Chase The property is anchored by a newly executed 15-year lease with Chase Bank, providing long-term income stability backed by JPMorgan Chase (NYSE: JPM), the largest bank in the United States with approximately $4.3 trillion in assets and investment-grade credit ratings.
**100% LEASED TO NATIONAL TENANCY | DIVERSIFIED INCOME STREAM**
- The center is fully leased to Chase Bank, AT&T, and Mattress Warehouse, providing diversified cash flow from nationally recognized operators across the banking, telecommunications, and home furnishings sectors.
**RECENTLY RENOVATED ASSET | LIMITED LANDLORD RESPONSIBILITIES**
- Following a comprehensive 2026 renovation, the property offers investors a well-maintained asset with limited landlord responsibilities for roof and structure, reducing management intensity and near-term capital expenditure requirements.
**1.7 MILLION SF RETAIL CORRIDOR | DOMINANT TRADE AREA POSITIONING**
- The property is strategically located within Asheboro's primary retail corridor, surrounded by approximately 1.7 million square feet of retail and numerous national retailers including Walmart, Lowe's, Aldi, Ross, Hobby Lobby, Chick-fil-A, Marshalls, and Planet Fitness.
**TOP-PERFORMING NATIONAL RETAILERS IN TRADE AREA**
- The surrounding retail corridor is home to several top-performing locations nationwide per Placer.ai, including Chick-fil-A (Top 1%), Harbor Freight (Top 11%), Mattress Warehouse (Top 17%), and Aldi (Top 23%), validating the strength of the underlying real estate and consumer demand within the trade area.
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Information
- 2,400 SF
- -
- Aug 2027
AT&T traces its roots to the Bell System era and the original American Telephone and Telegraph Company, which was founded in the nineteenth century. The company operates a communications business centered on wireless service, fiber broadband, fixed-line connectivity, and enterprise networking solutions. AT&T serves consumers and businesses through mobile plans, internet access, and security and business services, while continuing to expand its fiber and 5G network footprint. AT&T remains focused on converged connectivity across consumer and business segments.
- Chase Bank
- -
- 3,042 SF
- -
- Dec 2041
-
- Retailer
- 4,000 SF
- -
- Mar 2029
Mattress Warehouse began in 1989 as a mattress retailer and has grown into a sleep-products business with a broad regional presence. The company sells mattresses, box springs, adjustable beds, beds and furniture, bedding, clearance items, and sleep accessories, and the business also offers bedMATCH sleep diagnostics, financing options, free white-glove delivery and setup, and a lifetime price guarantee. Mattress Warehouse has also expanded its footprint through the addition of Sleep Outfitters, adding to a network of numerous stores focused on helping customers choose products from major brand names.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Information | 2,400 SF | - | Aug 2027 | ||
| Chase Bank | - | 3,042 SF | - | Dec 2041 | ||
|
|
Retailer | 4,000 SF | - | Mar 2029 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 7760-69-2706 | Improvements Assessment | $838,950 |
| Land Assessment | $950,380 | Total Assessment | $1,789,330 |
Property Taxes
Contacts
-
David Hoppe -
Eric Suffoletto -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Connor Kuchman -
Atlantic Capital Partners
Presented by
MTNL | Asheboro, NC | NNN | 1334 E Dixie Dr
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