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28970182
28970183

635 W Fleming Dr, Morganton, NC 28655

ST
NC 312506, SC 142725
C.F. Smith Property Group
Listed by C.F. Smith Property Group
$3,295,000
164 days on market
Updated 19 days ago
Opportunity zone

Morganton Heights Outparcel

Details
APN 1793807940
Property Type Retail
Sub Type QSR/Fast Food, Restaurant (+1)
Square Footage 7,997
Units 4
Cap Rate 5.88%
NOI $193,585
Occupancy 85%
Tenancy Multi
Brand/Tenant Buffalo Wild Wings
Lease Type NNN
Lease Term 10
Lease Expiration 06/30/2027
Remaining Term 1.1
Rent Bumps Yes
Lease Options 3
Pro-Forma Cap Rate 6.83%
Pro-Forma NOI $224,920
Price per SqFt $412
Broker Co-Op Yes
Class A
Year Built 2017
Buildings 1
Stories 1
Acreage 2.160
Zoning C
Parking Spaces 117 spaces
Parking Per SqFt 14.63
Investment Type Owner/User
Lease Commencement 06/19/2017
Occupancy Date 07/15/2017
Ownership DL Morganton Real Estate LLC

Retail | 5.88% CAP | 7,997 SqFt

Marketing description

Located just off I-40, Morganton offers unmatched accessibility and small-town charm in the heart of Burke County. Positioned 63 miles east of Asheville, this dynamic community blends natural beauty with a high quality of life.

Morganton serves as a gateway to some of Western North Carolina’s top outdoor destinations—Lake James, South Mountains State Park, Pisgah National Forest, and the Blue Ridge Parkway. With hiking, biking, waterfalls, and year-round recreation, the area attracts both residents and visitors seeking an active, scenic lifestyle.

A thriving market with strong regional draw, Morganton delivers the perfect balance of convenience, growth, and natural appeal.

Investment highlights

Prime Position in Morganton’s Dominant Retail Corridor. Located within the high-traffic Morganton Heights power center alongside national co-tenants such as Buffalo Wild Wings, T-Mobile, and Mariner Finance, ensuring strong visibility and consistent customer draw.

Rare Inline Availability. Limited supply of quality inline space in this trade area makes this suite a standout opportunity for investors or owner-users looking for immediate presence in a proven retail hub.

Highly Functional, Flexible Layout. Thoughtfully designed with 15’+ frontage, 74’ depth, four versatile rooms, full ADA accessibility, and a private restroom—ideal for a variety of retail or service-based uses.

Strong Market Fundamentals. Morganton continues to benefit from steady residential and commercial growth, supported by proximity to Asheville, I-40 access, and major outdoor destinations that attract year-round activity.

Value-Add Upside. Opportunity to lease the suite at market rates or reposition for an owner-occupied use—creating a compelling path for improved cash flow and long-term appreciation.

Stable, High-Quality Retail Environment. Morganton Heights offers excellent access, modern infrastructure, and a strong regional draw, making it one of Burke County’s most established commercial destinations.

Listing Contacts

ST
NC 312506, SC 142725
C.F. Smith Property Group
Listed by C.F. Smith Property Group

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$193,585.00
$16,132.08/mo

Valuation Metrics

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DSCR
5.88%
Cap Rate
5.88%
ROI

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Additional Information

Name
Steve Trythall
License
312506
Brokerage
C.F. Smith Property Group LLC
Brokerage Phone
910-997-2544
Title
Director of Brokerage Services
Brokerage Address
100 Magnolia Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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