±9.15 AC COMMERCIAL PROPERTY FOR SALE ON YADKIN ROAD

PRICE: $4,445,000 Water: PWC • Sewer: PWC • Electricity: PWC • Zoning: CC - Community Commercial • Frontage: 298+/- • Broker: Michael Paschal     Tel: (910)527-5990 Legal description: SUMMERHILL PLAZA LO:3 SE:01 PL:0091-0183

Description:

This property is comprised of ±42,255 SF of retail space, plus an additional ±3.8-acre vacant commercial tract. With 16-tenants, this property serves as a stable income producing asset while offering significant value-add potential through the development of the vacant tract. The CAP Rate is 9.09 %. Gross Annual Revenues of $471,527.52 (or 11.16/ SF Gross Rent). The property has great visibility and access. Historical occupancy rates are close to 100% and many tenants have been there for decades.

Attachments:

Property Flyer; NOI; Operating Statement

Photos: