Historical Retail Sale Listing - Market Station- WalMart Shadow Center

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Market Station- WalMart Shadow Center

5214 Market Street, Wilmington, NC 28405

N/A

15,790 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
15,790 SF
Property Type:
Retail
Property Sub-type:
Strip Center
Property Use Type:
Investment
Cap Rate:
7.89%
Occupancy:
77%
Tenancy:
Multiple
Year Built:
2003
Lot Size:
1.52 AC
Listing ID
16245072
Last Updated
over 1 year ago

Highlights

  • WalMart Supercenter Shadow Anchored
  • +340,000 People in the Wilmington Metropolitan
  • Pro-Forma CAP Rate of 10.13%
  • Minutes From The University of North Carolina at Wilmington (+14,000 Students)
  • All Leases are NNN and have 3 Percent Annual Increases
  • Great Upside in Leasing Remaining Spaces

Description

Market Station is currently 77 percent occupied with a mixture of national and regional tenants. All tenants operate under landlord friendly leases and reimburse for taxes, insurance, and common area maintenance. All leases also having three percent annual rental increases and options to extend.

The 7.89% CAP rate represents actual current numbers. The property has a pro-forma CAP rate of 10.13%.

Market Station is a 15,700 sf WalMart Supercenter shadow anchored strip center located on the heavily traveled Market Street and just off North College Road. The Wilmington metropolitan is home to over 340,000 people, and is the largest port city in North Carolina. Wilmington is also one of the fastest growing cities in North Carolina, and in the immediate area the population has grown some 13 percent since 2000. Market Station is surrounded by many other large retail developments, and is the epicenter of retail for the University of North Carolina at Wilmington students. Surrounding national retailers include: Target, Lowes, Home Depot, Best Buy, TJ Maxx, Kohl's, and numerous national restaurants.

Map of 5214 Market Street, Wilmington, NC 28405 (New Hanover County)

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