±7.48 AC COMMERCIAL PROPERTY FOR SALE ON YADKIN ROAD

PRICE: $4,950,000 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 with ±3.8 acres of excess commercial land for development. There are a total of 16 tenants, mostly on short term leases. The current gross revenue is $35,494.50 per month or $425,934.00 per year. This equates to $10.08/SF on a gross lease basis which is considered to be well below market levels. The property has great visibility and access. Historical occupancy rates are close to 100% and many tenants have been there for decades. Site improvements include asphalt paving, concrete walks, fencing, pole signage, landscaping, numerous curb cuts, and generous parking. Public utilities. Total acreage is ±7.48. Property has not been surveyed and land sizes have been estimated.

Attachments:

Property Flyer

Photos: