SUMMER HILL SQUARE

Retail-Commercial for Sale
Catylist Listing ID: 30197814
Property Subtypes: Street Retail
Condo? Yes
Building Size (RSF): 3,835 SF
Gross Building Area: 14,989 SF
Gross Land Area: 14,989 SF
Sale Price: $449,000
Ceiling: 10 ft.
Property Use Type: Investment
Building Name: Summer Hill Square
Usable Size (USF): 3,835 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 7/17/2020

Overview / Comments

Single story strip center located at prime location close to down town on busy highly traveled Carolina Beach Road. Currently all units leased and occupied.
Anticipated traffic light to be constructed at corner of Tennessee and Carolina Beach Road,DOT report available. Building is in good condition with recent repairs to roof and HVAC. Center beam support will allow alternative building configuration to individual units.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $2,698 (Annual)
Assessed Value - Total($) $256,200 (Annual)
Potential Rental Income $36,000 (Annual)
Gross Operating Income $36,000 (Annual)
Net Operating Income $26,000 (Annual)

Current Tenants

Tenant Notes Tenant leases available upon request.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington/New Hanover County
Tax ID/APN: R06009-005-020-000
Is Condo?: Yes
Zoning: COMMUNITY BUSINESS DISTRICT
Retail Clientele: General, Business
Property Located Between: Corner of Tennessee and Carolina Beach Road
Property Visibility: Excellent
Largest Nearby Street: Carolina Beach Road
Feet of Frontage: 100
Highway Access: US 421- Carolina Beach Road
Site Description: Single story 4 unit retail stip center with terrific visibility from highly traveled Carolina Beach Road. 20 parking spaces with easy in and out access.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,000 SF
Property Condition: Good
Year Built: 1988
Roof Type: Flat
Construction/Siding: Metal Siding
Total Parking Spaces: 20
Parking Type: Surface
Parking Description: 20 marked spaces directly in front of each business unit.
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Engineered System
Interior Description: Current occupants: Unit 1 - Mattress and art retail- 1000 s/f Unit 2: 1000s/f Beautician, Unit 3 1000s/f Insurance office with conference room Unit 4: 835 s/f Beautician
Zoning Description: Commercial Business District-CB
Lot Frontage: 100 linear feet
Lot Depth: 150 ft
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 16/17/18/19 blk 27 Summer

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,682 51,372 121,301
Median Age: 41.4 37.41 36.6
Households: 3,269 23,961 52,338
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