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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 late 1800s, when Alexander Graham Bell's telephone invention led to the Bell Telephone Company and the early American Telephone and Telegraph enterprise. The modern company emerged from the Bell System breakup and later corporate consolidation, building a national communications business with a long operating history in the United States. AT&T provides wireless service, broadband, fiber, internet access, and business connectivity products, with offerings that also support public safety and enterprise customers. The company maintains a broad market presence across consumer and business communications, combining mobile, fixed-line, and network services under a single brand.
- Chase Bank
- -
- 3,042 SF
- -
- Dec 2041
-
- Retailer
- 4,000 SF
- -
- Mar 2029
Mattress Warehouse is a specialty bedding retailer offering mattresses, bed frames, foundations, adjustable bases, pillows, and related sleep accessories. Founded in 1989, the company operates as a privately held retail chain serving customers through physical store locations and an online sales platform. Its product mix includes nationally distributed mattress brands and private-label offerings. Mattress Warehouse supports customers with in-store guidance, delivery services, and product warranties. The organization continues to expand its regional footprint in the mid-Atlantic retail bedding market while maintaining privately held corporate ownership.
| 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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