Outer Banks CASH FLOW!!!!!!

Shopping Center for Sale
Sale Pending
Catylist Listing ID: 30587015
Property Subtypes: Strip Center
Status: Pending
Building Size (RSF): 6,817 SF
Gross Land Area: 0.91 Acres
Sale Price: $439,500
Unit Price: $64.47 PSF
Property Use Type: Investment
Building Name: Andmar
Usable Size (USF): 6,817 SF
Sale Terms: Cash to Seller
Cap Rate: 9.5%
Last Updated: 12/1/2020

Overview / Comments

The property is 100% leased at this time. Plus there is additional area on the second floor that should accommodate an apartment to further increase cash flow, when completed.
Being next to RD Sawyer Motor Company and across the street from Manteo Marine, and with high visibility on Hwy 64/264, ample parking, there should never be an issue to keep the property fully leased.
A good mix of tenants, creates traffic for all occupants.
Two of he tenant have been there for years.
The tower lease is not part of the sale.

Additional Details

Nearest MSA: Kill Devil Hills
County: Dare
Tax ID/APN: 978907598130
Zoning: B2
Retail Clientele: General, Business
Property Located Between: Ford Dealership & McDonalds
Property Visibility: Excellent
Largest Nearby Street: US Hwy 64/264
Feet of Frontage: 200
Highway Access: Off 64/264
Airports: Dare County Regional
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 4,000 SF
Property Condition: Average
Year Built: 1959
Construction/Siding: Wood Siding
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central, Heat Pump
Zoning Description: B2
In Flood Plain?: Yes
Lot Frontage: 200
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: Cell Phone Tower
Land Ownership: Owned

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,617 7,224 8,983
Median Age: 40.41 42.91 42.58
Households: 1,514 3,043 3,774
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