508 10th St NW, Conover, NC 28613

For sale to qualified investors is a regional strip center opportunity offering an immediate 89% upside opportunity through lease-up of vacant space. Located at the 1^st Street exit on Interstate 40 in Conover, North Carolina, the 67,036 square foot property, known as Canova Shopping Center, is adjacent to a brand new 86,000 SF Rural King shadow anchor opening September 2024. Rural King is known to draw customers from 15-20 miles and beyond and has already boosted leasing momentum with one signed lease, one space at lease, and multiple LOI’s pending just since announcing their new store. This offers the purchaser a rare opportunity to acquire the property and immediately benefit from recent leasing momentum and Rural King’s store opening. The property has modern storefronts and facades, a newer roof, and spaces in various sizes ranging from 1,050 SF to a 20,721 SF junior anchor position available for immediate lease. Due to the freeway exit location, the property is surrounded by daytime generators, including retail, manufacturing and distribution, and the nearby Catawba Valley Medical Center. Over 19,000 vehicles per day pass the shopping center’s entrance on 1^st Street W, in addition to other I-40 traffic. The property is expected to sell for below its current replacement cost, offering the investor a very rare value add opportunity in this market.