Investment Sale - Crossroads Center - HT Anchor

Shopping Center for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 29985593
Property Subtypes: Fashion/Specialty, Grocery-Anchored, Mixed Use, Neighborhood Center, Net Leased, Strip Center
Building Size (RSF): 101,312 SF
Gross Land Area: 9.34 Acres
Sale Price: $18,685,067
Unit Price: $184.43 PSF
Property Use Type: Investment
Building Name: Crossroads Shopping Center
Usable Size (USF): 101,312 SF
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: 6.75%
Last Updated: 6/25/2019

Overview / Comments

107,598 SF Neighborhood center for sale in New Bern, North Carolina at the intersection of Hwy 17 (MLK) and Glenburnie Rd which leads to Highway 70. This center is anchored by Harris Teeter.

This center sits at one of the most traveled intersections in New Bern connecting New Bern to Trent Woods. The center has a great mix of Local, Regional and National brand tenants.

We recently added Hallmark Stores on an outparcel, as well as extend the lease of one of our national tenants and expanded and extended another tenant at the center.

For more information please contact brokers for a NDA/CA to receive rent roll, store sales and NOI.

Additional Details

Nearest MSA: New Bern
County: Craven
Taxing Authority: New Bern
Tax ID/APN: 8-208-093
Zoning: C-3
Retail Clientele: General, Family, Business, Traveler, Tourist, Other
Property Located Between: Glenburnie Rd. and US-17
Property Visibility: Excellent
Largest Nearby Street: Glenburnie Rd.
Feet of Frontage: 621
Traffic/Vehicle Count: 51,000
Highway Access: US-17
Site Description: Over 1000 Feet of visibility on Glenburnie Road. Retailers nearby include Publix, Twin Rivers Mall, Target, Super Wal Mart, TJ Maxx, Staples, Golds Gym, Lowes Home Improvement, and Pets Mart.
Area Description: Located at the signalized intersection of Glenburnie Road and Dr. MLK Jr. Blvd. Cross Roads Shopping Center has connectivitiy to adjacent Target and across the street from the new Publix being developed.
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Excellent
Year Built: 1996
Roof Type: Flat
Construction/Siding: Brick/Vinyl Siding
Exterior Description: Brick
Parking Type: Surface
Parking Description: Surface
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Engineered System
Internet Access: Cable
Zoning Description: Commercial Retail
Lot Depth: 1031
Water Service: Municipal
Sewer Type: Municipal
Legal Description: PT LOT 1 CROSSROADS CENTER

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,509 24,830 42,633
Median Age: 46.56 44.14 41.86
Households: 2,469 10,801 18,282
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