High Point Multi-Tenant Showroom
12.05% CAP | 46,849 SF | Value-Add Opportunity
Marketing description
Northmarq is pleased to present to qualified investors the opportunity to acquire the fee simple interest in the multi-tenant showroom asset located at 135 S Main Street, in High Point, North Carolina. The newly renovated showrooms are occupied by quality tenants including Karat Home, Inc. (Z Gallerie), The Phillips Collection, and High Point Exhibition. With a weighted average lease term of over three years, all leases feature 3% annual escalations and two, 5-year renewal options. The basement space is being converted into a showroom and offers substantial upside opportunity through future lease-up. Ownership is actively evaluating the feasibility of converting the space into additional showroom square footage to further increase income. Located in the heart of downtown High Point’s Market District, the condo sits between the International Home Furnishings Center (3.5 million square feet) and The Showplace (400,000 square feet), both of which serve as anchor venues for the High Point Market.
Investment highlights
- Prime Investment Opportunity | Multi-Tenant Retail/Showroom in the Greensboro-High Point MSA | Rare Opportunity to Acquire a Ground Level Showroom Asset Structurally Connected to a Future High-Quality Hotel Redevelopment
- Newly Renovated | Roof Covering a Majority of the Property Replaced in 2023 with a 10-Year Workmanship Warranty & 20-Year Materials Warranty
- Strong Tenancy & Value-Add Opportunity | Major Tenants Include Karat Home (Z Gallerie) & The Phillips Collection | All Leases Feature 3% Annual Escalations | Significant Upside Opportunity by Leasing the Basement Showroom
- Ideal Downtown High Point Visibility & Access | Excellent Visibility & Exposure from Three Streets | Property Features Three Retail Access Points and One Loading Dock
- Core High Point Market District Presence | Furniture Capital of the World | The High Point Market is a Semi-Annual Event that Generates Over $6.7 Billion in Annual Economic Impact
- Premier Placement in the Showroom Corridor | Situated in Between the 3.5M SF International Home Furnishings Center Owned by Blackstone & the 400,000+ SF Showplace Center
- Proximity to Major Employment & Healthcare Drivers | Located 17 Miles from JetZero’s Future $4.7 Billion Aircraft Manufacturing Facility Expected to Create 14,500+ Jobs & Less than 1 Mile from the High Point Medical Center (350+ Beds)
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
