Historical Retail Sale Listing - Oakwood Shopping Center

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Oakwood Shopping Center

121 N Fairview Rd, Rocky Mount, NC 27801

N/A

99,479 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
99,479 SF
Property Type:
Retail
Property Sub-type:
Neighborhood Center
Property Use Type:
Investment
Commission Split:
1.5%
Cap Rate:
10.58%
Occupancy:
81%
Tenancy:
Multiple
Year Built:
1973
Lot Size:
10.50 AC
Listing ID
17813399
Last Updated
over 1 year ago

Highlights

  • Grocery Anchored Retail Center
  • 81 Percent Leased | Food Lion, Maxway, PNC Bank, Rent-A-Center
  • Increasing Food Lion Sales | Low Rent-to-Sales Ratio
  • Recent Junior Anchor (Maxway) Renewal | Immediate Upside with Existing Vacancies
  • In-Fill Location | 50,000 People within 5-Miles
  • 45-Minute Drive to Raleigh, NC

Description

Tenant sales history and OM are available upon signing the confidentially agreement (attached). THE ACCEPTANCE OF AN OFFER TO PURCHASE WILL BE SUBJECT TO CURRENT LENDER APPROVAL.

Oakwood Shopping Center is a 99,479 square-foot grocery-anchored retail center in Rocky Mount, NC (50-miles East of Raleigh). The property has 20 tenants with a mix of triple-net, double-net and gross leases. Oakwood is 81- percent leased to a mix of national and local tenants including Food Lion (BBB- credit), PNC Bank (A credit), Rent-A-Center (BB credit), Maxway, H&R Block and more. Nearly half of the tenants renewed in 2012, with several increases, and more than half of the tenants have occupied the property for more than 10 years. Food Lion' s sales are strong with a low Rent-to-Sales ratio of 1.3-percent.

Oakwood Shopping Center is an in-fill location on approximately 10.5 acres, less than one-mile from downtown Rocky Mount. Oakwood is the only grocery anchored shopping center on the East Side of Rocky Mount which has 19.00% of the total population and only 3.00% of the total retail space according to the Chamber of Commerce.

The property was built in 1973, updated in 1995, and it' s strategically positioned at a signalized intersection. There is a Wal-Mart Supercenter within five-miles of the subject property and Food Lion' s sales continue to increase, proving the strength of the location.

Oakwood Shopping Center is offered free-and-clear of debt.

Map of 121 N Fairview Rd, Rocky Mount, NC 27801 (Edgecombe County)

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Created 8/30/2012