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109 Smith Ave
Shallotte, NC 28470
Bank of America | Coastal NC · Retail Property For Sale
Executive Summary
• 15-year absolute NNN ground lease (zero LL responsibility) commencing August 2026 providing passive ownership and stable long-term cash flow
• Below market rent and 10% bumps every 5 years throughout initial term and 4 option periods providing attractive NOI growth and an inflation hedge
• Investment grade credit tenant (Moody’s: Aa2 / S&P: A+ / Fitch: AA)with the same corporate guaranty that’s on every retail branch lease
• Bank of America (NYSE: BAC) is one of the world’s largest financial institutions with approx. 70 million clients, 3,600 retail financial centers, and 15,000 ATMs
• Outparcel to Coastal Walk Marketplace, a 176,000 SF class-A regional center anchored by Hobby Lobby, Marshalls, Ross, Bealls, PetSmart, Five Below, and ULTA
• Main commercial corridor location positioned at the center of the trade area and corner of the high-profile intersection of Main Street (27,000 VPD) and Smith Avenue
• Popular coastal market in Brunswick County, the fastest-growing county in North Carolina with a 26% annualized growth rate in 2025
• 5-year projected population growth of 14% and median household income growth of 15.5% within a 15-minute drive of the property
• Strategic regional location 36 miles southwest of Wilmington and 39 miles northeast of Myrtle Beach SC along one of the Southeast’s primary coastal corridors (US 17).
• Below market rent and 10% bumps every 5 years throughout initial term and 4 option periods providing attractive NOI growth and an inflation hedge
• Investment grade credit tenant (Moody’s: Aa2 / S&P: A+ / Fitch: AA)with the same corporate guaranty that’s on every retail branch lease
• Bank of America (NYSE: BAC) is one of the world’s largest financial institutions with approx. 70 million clients, 3,600 retail financial centers, and 15,000 ATMs
• Outparcel to Coastal Walk Marketplace, a 176,000 SF class-A regional center anchored by Hobby Lobby, Marshalls, Ross, Bealls, PetSmart, Five Below, and ULTA
• Main commercial corridor location positioned at the center of the trade area and corner of the high-profile intersection of Main Street (27,000 VPD) and Smith Avenue
• Popular coastal market in Brunswick County, the fastest-growing county in North Carolina with a 26% annualized growth rate in 2025
• 5-year projected population growth of 14% and median household income growth of 15.5% within a 15-minute drive of the property
• Strategic regional location 36 miles southwest of Wilmington and 39 miles northeast of Myrtle Beach SC along one of the Southeast’s primary coastal corridors (US 17).
Property Facts
Sale Type
Owner User
Property Type
Building Size
4,650 SF
Year Built
2026
Price
$2,826,100
Price Per SF
$607.76
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.09 AC
Zoning
HB - Hwy Biz
Parking
21 Spaces (4.52 Spaces per 1,000 SF Leased)
Frontage
300’ on Main Street
1 of 5
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