Historical Retail Sale Listing - Centennial Square

Retail For Sale

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Centennial Square

2108 North Centennial Street, High Point, NC 27265

N/A

9,750 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
9,750 SF
Property Type:
Retail
Property Sub-type:
Strip Center
Property Use Type:
Net Lease Investment with
10+ years left on lease
Commission Split:
2%
Cap Rate:
8.35%
Occupancy:
100%
Tenancy:
Multiple
Lot Size:
1.09 AC
Listing ID
15948361
Last Updated
over 1 year ago

Highlights

  • 100% Occupied Strip Center
  • Leases Require Monthly Payments between $1.25 to $1.50 per square foot CAM, Insurance and Tax Charge
  • $2 Dollars Below Market Rents at $13.64/SF
  • Located Across from Oak Hollow Mall, Target, and Circuit City
  • City Population of 100,000+ (31% Increase since 1990)
  • The City's High Point Market Attracts over 200,000 Exhibitors/Buyers Annually from around the World

Description

We are pleased to offer for sale a 9,750 square foot strip center located in the city of High Point, North Carolina. Centennial Square is currently 100% occupied with a mix of regional and local tenants. All leases are NNN in nature, with tenant reimbursing for Taxes, Insurance, and CAM. Additionally, Landlord bills Tenants for deficient CAM, Taxes and Insurance which is not covered by monthly payment. This amount for 2007 was $8,702.59. The entire roof was replaced in October of 2006, with a new ten year warranty. This cost will be a non-issue for a new investor.

- Landlord Replaced the Entire Roof in 10/2006 - 10 Year Warranty

Situated along a major retail corridor, the center resides near the intersection of North Centennial Street and Eastchester Drive. Traffic counts are very strong along this major thoroughfare with over 27,000 vehicles that pass the center daily. US Route 311 is located less than one mile east of the subject property that runs through High Point northwest to Winston Salem (15 miles away).

The Center is located across the street from the Oak Hollow Mall (anchored by Sears, JC Penny, and Dillards) as well as a new Target and Circuit City.

Map of 2108 North Centennial Street, High Point, NC 27265 (Guilford County)

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Created 10/17/2008