Fully Leased 7.36% CAP Shopping Center in Camden NC
Commercial Building For SaleIncome Producing Property
$ 2,500,000.00
- Property ID: 3574
- Date added: 03/22/24
- Post Updated: 2024-03-27 14:51:34
- Status: Active
- Area: 11000 sq ft
- Lot size: 2.52 acres
- Year built: 2016
Description
Fully leased Shopping Strip Center in the heart of Camden with a current CAP rate of 7.36%. Built in 2016 with Central Sewer and Natural Gas in the heart of lovely Camden, NC. Five units from 1,662-3,000 sq ft for a total of 11,000 sq ft with 76 parking spaces on 2.52AC listed for $1.1M below tax value. Tenants include Chesapeake Regional Medical Center, Todds Pharmacy (which is closed and subleased to a Church but Todd’s lease is still in force through the end of 2027), Jack & Jenny’s Pizza Company, Hungry Panda, and Waterfall Blossom Cafe. Gross Income is currently $180,550 ($15.22-$17.31 per sq ft) and all leases are NNN with $4.50 per square foot TICAM charges and the lease rates all increase between 2%-3% annually. CAP rates will increase by about 0.2% annually assuming no vacancies and no increases in expenses. Room to build an additional +/-3,500 sq ft between the existing building and Hwy 343 with parking lot and landscaping in place for the expansion area. Todds Pharmacy’s end cap space has a drive thru.
View on map / Neighborhood
Features
- Natural Gas Connected
- in the heart of Camden NC
- Parking
- landscaping
- parking lot lights!
- Not in a flood zone
- Commercial Zoning
- Survey on file
- access to county water & sewer & good internet
- Handicapped access
- Freestanding Building
- Landscaping
- Private Parking
Documents
- Survey
- Tax Card
- MLS Data
- Property Flyer: 100-Plank-Bridge-Road-Rent-and-Triple-net-fees.pdf
Agent
This style property is located in Camden is currently Commercial Building For Sale Income Producing Property and has been listed on The Rich Company. This property is listed at $ 2,500,000.00. It has bathrooms, and is 11000 sq ft. The property was built in 2016 year.
