100 Plank Bridge Road
Camden,
NC
27921
Property Details
List Price: |
$2,500,000 |
Beds: |
-- |
Baths: |
-- |
Status: |
Active |
SqFt: |
11000 |
Agency: |
Rich Company |
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Description/Comments
Lot Size: |
2 acre(s) |
Property Type: |
Other |
Year Built: |
2016 |
Notes: |
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. |
MlsNumber: |
100434490 |
Estimate Your Monthly Payment
Listing Provided By: |
Rich Company, original listing |
Name: |
Rich Company |
Phone: |
(252) 338-5432 |
Office Name: |
Rich Company |
Office Phone: |
(252) 338-5432 |
Agent Name: |
Alex Rich |
Disclaimer: |
Copyright © 2024 NCRMLS/ Albemarle Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |