±9.15 AC COMMERCIAL PROPERTY FOR SALE ON YADKIN ROAD

PRICE: $3,995,000 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 including the development of the vacant tract. The CAP Rate is 9.73 %. 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.

The property boasts excellent visibility and access, enhanced by multiple curb cuts, generous parking, and prominent pole signage. Site improvements include asphalt paving, concrete walkways, and professional landscaping, ensuring a well-maintained environment for tenants and customers alike. Located near major thoroughfares such as All American Freeway and Santa Fe Road, the center benefits from traffic counts exceeding 20,500 VPD (NCDOT 2024) on Yadkin Road and 53,500 VPD nearby, driving consistent consumer activity. Surrounding national retailers and quick-service restaurants further amplify the location’s appeal.

Attachments:

Property Flyer; NOI; Operating Statement; Proposed Site Plan

Photos: