This property is Off-Market

5214 Market Street
Wilmington, NC 28405 ·

15,790 SF · Retail For Sale

N/A

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Market Station- WalMart Shadow Center

Price N/A Cap Rate 7.89%
Gross Leasable Area 15,790 SF Occupancy 77%
Property Type Retail Tenancy Multiple
Property Sub-type Strip Center Year Built 2003
Property Use Type Investment Lot Size 1.52 AC
Listing ID: 16245072 Date Created: 05/20/2009 Last Updated: 11/23/2009

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.

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

Research

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

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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