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120 Gallery Center Drive
Mooresville, NC 28117
Asking Price
$3.20M
Cap Rate
10%
Asset Type
Restaurant Retail
Class
Class B
What's Special
Retail Investment or Redevelopment 2.54 acres | 7,956 SF restaurant <ul><li>2.54 acres with existing 7,956 SF Golden Corral Restaurant</li><li>Restaurant built in 2014</li><li>$319,000/year annual NOI flat for 3+ years </li><li>10% cap</li><li>Lease expiration 11/30/29</li><li>Tenant will vacate or remain through end of term</li><li>Located off exit 36 (Highway 150) in Mooresville NC</li><li>Outstanding opportunity for owner/user or developer</li><li>Zoned CC (Community Commercial) allowing variety of commercial uses including retail or hotel</li></ul>
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NOI
$80,000
Cap Rate
2.50%
DSCR
0.42
Underwater
Cash-on-Cash
-11.46%
Monthly Payment
$15,831.854
Annual Cash Flow
$-109,982.248
