Historical Retail Sale Listing - Coastline Station

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Coastline Station

16406 Hwy 17 North, Hampstead, NC 28443

N/A

15,000 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
15,000 SF
Property Type:
Retail
Property Sub-type:
Strip Center
Property Use Type:
Investment
Commission Split:
3%
Cap Rate:
8%
Occupancy:
100%
Tenancy:
Multiple
Lot Size:
2.30 AC
Listing ID
16115032
Last Updated
over 1 year ago

Description

Coastline Station is a new (one year old) beautiful brick strip center in the heart of Hampstead's business district. Hampstead is a bedroom community to Wilmington, NC, on the coast of NC. It is directly on 5 lane US Hwy 17, with more than 35,000 cars per day. There are 10 suites. All are currently leased to high quality tenants. These include an orthodontist, a physical therapist, attorney, real estate company, an accountant, carpet company, Nationwide, Edward Jones, a thrift store, a restaurant, and an internet company.
The building cost more than 2,000,000 to build. It has a complete drive around the back, a turn lane off of Hwy 17, drive thru window for the restaurant, 2 entrance/exits. Everything about it is the best quality.
Rents avg 12.50 per sf with 3% increses built in per year.
CAMS are paid entirely by tenants at 1.50/sf on top of the 12.50/sf rent. Owner expenses for 2008 were under 3000.
This is easily the nicest strip in the area with high quality tenants.

Directly on 5 lane Hwy 17 North in the heart of Hampstead's business district.

Map of 16406 Hwy 17 North, Hampstead, NC 28443 (Pender County)

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