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107 N Raiford St 5,533 SF 100% Leased Retail Building Selma, NC 27576 $606,000 ($109.52/SF) 8.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Recent capital improvements include flooring, electrical, HVAC, bathrooms, painting, structural reinforcements, new awning
- 100% occupied - 2 tenants on new leases
- Located downtown in a prime pedestrian corridor
- Tenants are invested into the space, with Waggerz Too being on their second location after a long term successful flagship location in Garner
EXECUTIVE SUMMARY
This cash flowing +/- 5,533 sf multi tenant retail property is located in the heart of Selma's downtown pedestrian corridor offering a prime investment opportunity. Positioned in a prime location, the property sits directly off of a major exits on I-95, offers great access to Raleigh and Research Triangle Park via US-70, and is in the heart of Downtown Selma where there has been an increase of over 100,000 new residents since 2004. More recently, Selma and the greater Johnston County area has experienced an influx in large development projects such as Eastfield Crossing (3M sqft development), the first ever Target in Johnston County, as well as VeeTee and Crystal Window & Doors investing nearly $100M each into the area. The property features 2 tenants, a well-established dog grooming salon (2nd location) on the first floor and a photography studio on the second. This site presents a strong opportunity for an investor seeking a return from day 1 with the ability to capitalize on the long term appreciation of the area as Johnston County continues to grow rapidly.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,533 SF
Building Class
C
Year Built
1910
Price
$606,000
Price Per SF
$109.52
Cap Rate
8.25%
NOI
$50,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.59
Lot Size
0.08 AC
Opportunity Zone
Yes
Zoning
COM - Commercial
Frontage
23’ on N Raiford St
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 14028031A | Improvements Assessment | $165,890 |
| Land Assessment | $36,240 | Total Assessment | $202,130 |
PROPERTY TAXES
Parcel Number
14028031A
Land Assessment
$36,240
Improvements Assessment
$165,890
Total Assessment
$202,130
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107 N Raiford St
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