Retailer Anchored Multi Tenant Investment Property

Retail-Commercial for Sale
Catylist Listing ID: 30677584
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail, Vehicle Related
Building Size (RSF): 34,600 SF
Gross Land Area: 2.22 Acres
Sale Price: $2,374,094
Unit Price: $68.62 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Usable Size (USF): 34,600 SF
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Average Occupancy Rate: 80
Last Updated: 11/15/2021

Overview / Comments

This 34,600 sf building located along Lejune Blvd / Highway 24 is a three unit building, one of which are leased at present. (Call for more information on leases, financials and maintenance history.) With the major tenant being a furniture retailer, and two vacancies this investment opportunity provides upside immediately.

Located in-between two of Camp Lejunes Entrances (From the corner of Western Blvd and 24 as well as Corbin Street and 24) this opportunity sits one lot from the intersection of Corbin Street and Highway 24. Highway 24 is a major road that heads to Moorhead City/Carteret County.

The rear of the property is accessible from Liberty Street and has a shared parking field for employees of the current tenants. The 7,000 sf is listed for lease at $7.00 gross which would add a net of $28,000.00 after NNN reimbursement as upside.

Our current offering DOES NOT ACCOUNT FOR POTENTIAL INCOME meaning that we are based on Actual NOI, therefore once leased this investment CAP will rise accordingly.

Landlord and Tenants are working to secure some extra term to provide a new owner with long term leases in place.

For further information on the property please contact us.

Additional Details

Nearest MSA: Jacksonville
County: Onslow
Taxing Authority: Onslow County / Jacksonville
Tax ID/APN: 439613144851
Zoning: B-2
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Located Between: Western Blvd and Corbin Streets. Property is on Highway 24.
Property Visibility: Excellent
Largest Nearby Street: Highway 24
Feet of Frontage: 199
Highway Access: Direct Right in Right out Traffic flow on Highway 24.
Site Description: 34,600 sf building on 2.2 acres property is improved.
Area Description: Jacksonville NC, Camp Lejune Out Side the Gate Submarket.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 34,600 SF
Property Condition: Good
Year Built: 2006
Roof Type: Flat
Parking Type: Surface
Parking Description: Open Parking area in rear accessed from liberty street to serve rear unit and existing tenants employees. Front Parking area has 20 +/- spots for retail cliental.
Zoning Description: B-2
Lot Frontage: 199
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,892 42,433 78,338
Median Age: 24.81 26.18 26.51
Households: 4,023 15,316 26,138
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