Fully Occupied Retail Center | 7% Cap | Fayetteville, NC MSA

Shopping Center for Sale
Catylist Listing ID: 30763053
Property Subtypes: Grocery-Anchored, Net Leased, Strip Center
Building Size (RSF): 12,238 SF
Gross Land Area: 3.33 Acres
Sale Price: $3,916,000
Unit Price: $319.99 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Hope Mills Marketplace
Usable Size (USF): 12,034 SF
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 100
Last Updated: 10/18/2021

Overview / Comments

- Near I-95 and sitting on the corner of Legion Rd and Hwy 162, this newly constructed center resides in one of Fayetteville's fastest growing sub-markets.​ Legion Rd sees 17,000 VPD!

- ​Six tenant strip center - all NNN leases with Neighborhood Walmart anchor.​ Walmart owns its own building, pays the Owner a quarterly CAM fee for parking lot striping and maintenance, landscaping, and electricity.​ Walmart's CAM charges reduce the CAM burden on the Shops tenants.​

​- Strong NNN leases with yearly escalations and management/admin fees built into NNN's.​ Multiple leases have 5+ years left.​

- ​Hardee's and Waffle House also pay a pre-determined quarterly CAM to the owner which does not reduce CAM burden for the Shops' Tenant's.​ Can be viewed as additional quarterly income.

​- Walmart shadow-anchor has 15+ years left on original term.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $13,280 (Annual)
Tax Value Land $114,335
Tax Value Improvements $1,057,182
Assessed Value - Total($) $1,171,517 (Annual)
Net Operating Income $274,141 (Annual)
Actual or Proforma Year Proforma
Loan Amount $3,139,000
Down Payment $777,000
Annual Debt Service $228,261 (Annual)
Interest Rate (APR) 4
Loan Due Date 10/2031
Amortization Period 20 years

Current Tenants

Tenant Business Name Anytime Fitness
Is Renting? Yes
Suite Number A
Current Rent $21 PSF (Annual)
Lease Expiration 5/2023
Escalations 2.5% annual
Tenant Business Name Liberty Tax
Is Renting? Yes
Current Rent $23 PSF (Annual)
Lease Expiration 4/2022
Escalations 3% annual escalations
Tenant Business Name Lily Nails
Current Rent $25 PSF (Annual)
Lease Expiration 6/2027
Escalations 3% annual escalations
Tenant Business Name China Star
Is Renting? Yes
Current Rent $21 PSF (Annual)
Lease Expiration 7/2027
Escalations 3% annual escalations
Tenant Business Name Yamato Jr Express
Is Renting? Yes
Current Rent $21 PSF (Annual)
Lease Expiration 6/2027
Escalations 3% annual escalations
Tenant Business Name Vapor World
Current Rent $25 PSF (Annual)
Lease Expiration 12/2024
Escalations 3% annual escalations

Additional Details

Nearest MSA: Fayetteville
County: Cumberland
Taxing Authority: Cumberland County
Tax ID/APN: 0424-08-1626-
Zoning: C2(P)
Retail Clientele: General, Family, Business
Property Located Between: NC-162 & Legion Rd
Property Visibility: Excellent
Largest Nearby Street: Legion Rd
Feet of Frontage: 200
Traffic/Vehicle Count: 17,000
Highway Access: I-85 only 4 minutes away
Airports: FAY - 4 mi. / 9 min.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 12,238 SF
Property Condition: Excellent
Year Built: 2017
Roof Type: Flat
Construction/Siding: Stucco
Parking Type: Structure
Parking Description: Over 200 parking spaces available
Total Parking Spaces: 200
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,131 51,304 111,115
Median Age: 29.76 32.25 34.12
Households: 3,735 19,393 43,245

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