Investment Sale 8 CAP = 8,196 +/- SF Building Retail

Retail-Commercial for Sale
Also listed as Business Opportunity
Catylist Listing ID: 29993282
Property Subtypes: Free-Standing Building, Restaurant, Retail-Pad, Street Retail
Building Size (RSF): 8,196 SF
Gross Land Area: 0.88 Acres
Sale Price: $1,288,000
Unit Price: $157.15 PSF
Ceiling: 14 ft.
Property Use Type: Net Leased Investment (NNN)
Building Name: Mattress Firm
Usable Size (USF): 8,016 SF
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 7/20/2018

Overview / Comments

Investment Sale 8 CAP= 8,196 +/- SF Retail Building with 6,037 SF leased on long term lease until Nov/2021 to Mattress Firm that provides opportunity for Investment. There is an Additional 2,160+/- SF Vacant open space being offered at $10 P.S.F. Rental.

Net Operating Income
Mattress Firm Cash Flow $123,758.00 Per Year
Expenses $20,700.00
NOI $103,060.00
Offering Price $1,288,000.00 8 CAP
Proforma @ 100% Leased - 2 Units

Vacant 2,160 SF @ $10 PSF $21,600.00
Mattress Firm $123,758.00
Potential GROSS Rent $144,817.00 Per Year
Expenses $20,700.00
Proforma $124,758.00
10 CAP $1,288,000.00

24,000 Cars per day

Retail building renovated in 2014 and with 150 feet of road frontage on S. Glenburnie. Great investment with upside in vacant rent. Road this property provides great visibility.

Call for confidentiality agreement and rent rolls

Additional Details

Nearest MSA: New Bern
County: Craven
Taxing Authority: Craven County
Tax ID/APN: 8-208-051, 8-208-088
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: Martin Drive and Harvard Way
Property Visibility: Excellent
Largest Nearby Street: S. Glenburnie Rd.
Feet of Frontage: 150
Traffic/Vehicle Count: 24,000
Highway Access: US 17 / US 70 , 2 miles
Airports: Coastal Carolina Regional Airport 6 miles
Site Description: Approx .88 acres land with 8,196 SF building, Mattress Firm on long term lease.
Area Description: Commercial district just up road from Harris Teeter and Publics new development
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1973
Year Renovated: 2014
Roof Type: Arched
Construction/Siding: Stucco
Exterior Description: Stucco, glass with all around parking
Total Parking Spaces: 71
Parking Type: Surface
Parking Description: All around building
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Two rental units in a 8196 SF building with one vacancy at 2,160 with good rent potential to improve NOI . Open retail space with bathroom and office
Zoning Description: NC-4 Neighborhood Business District is established as a district in which the principal use of land is to provide for the retailing of goods and services to the nearby residential neighborhoods. The regulations of this district are designed to limit the businesses which may be established therein in order to protect the abutting residential areas.
Lot Frontage: 150
Lot Depth: 256.66
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 1 LOT LEARY LD 1 LOT LEARY LAND

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,509 27,348 42,633
Median Age: 46.56 42.69 41.86
Households: 2,469 11,910 18,282
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