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Little River Square 1308-1320 W Grantham St 122,453 SF 100% Leased Retail Building Online Auction Sale Goldsboro, NC 27530
Investment Highlights
- 100% occupied retail center with 5+ years remaining on its WALT
- 43,000 people with a median household income of $54,000 within a 5-mile radius of the Asset.
- Features an excellent location within an Opportunity Zone with immediate proximity to Interstate 795, US-70, and US-117.
- Market has seen strong retail rental growth, low vacancy rates, and positive 12-month absorption.
Executive Summary
Colliers is pleased to present for sale the 100% fee simple interest in Little River Square (the “Asset” or the “Property”) located at 1308-1320 W Grantham St in Goldsboro, NC.
Built in 1982, the 122,453 square foot retail center is currently 100% occupied by 16 tenants. The remaining WALT exceeds 5 years with 87% of the tenancy leased into 2028 or later and 47% of the tenancy leased into 2030 or later showing strong tenant stability and commitment to the location.
Little River Square is located on 15.27 AC and features 1,250 parking spaces providing sufficient parking for employees and customers. Additionally, the Asset benefits from multiple points of ingress and egress and features excellent visibility off of W Grantham St.
The Asset is located within an opportunity zone with immediate access to US-70, US-117, and I-795, allowing for quick and convenient access to and from the Property. Little River Square is located 2.5 miles from downtown Goldsboro. In the immediate area, the Property is located
There are multiple nearby amenities and attractions: it is located approximately 7 miles from the Seymour Johnson Air Force Base, 8 miles from Busco Beach and ATV Park, and 3.5 miles from the Lane Tree Golf Club and Conference Center. Additionally, the Asset is located 4.5 miles from Wayne Community College.
The Property is located within the Goldsboro, NC Retail Market, which is home to 568 assets totaling 7.2M square feet. The market has been performing well with a vacancy rate of only 2.6% and a positive 12-month net absorption of 31.5K square feet. Additionally, market rent is growing; it is up 3.40% over last year, compared to 2.0% nationally. This shows that tenants want to be in the market, and there is competition for space, given the low vacancy rate. Finally, there are 6.7K square feet of retail under construction, further showing strong demand for retail within Goldsboro, NC.
Overall, Little River Square offers an Owner an excellent opportunity to acquire a well-maintained, stabilized, cash-flowing Asset within a strong-performing retail market.
David Stowe Lic 207642
Built in 1982, the 122,453 square foot retail center is currently 100% occupied by 16 tenants. The remaining WALT exceeds 5 years with 87% of the tenancy leased into 2028 or later and 47% of the tenancy leased into 2030 or later showing strong tenant stability and commitment to the location.
Little River Square is located on 15.27 AC and features 1,250 parking spaces providing sufficient parking for employees and customers. Additionally, the Asset benefits from multiple points of ingress and egress and features excellent visibility off of W Grantham St.
The Asset is located within an opportunity zone with immediate access to US-70, US-117, and I-795, allowing for quick and convenient access to and from the Property. Little River Square is located 2.5 miles from downtown Goldsboro. In the immediate area, the Property is located
There are multiple nearby amenities and attractions: it is located approximately 7 miles from the Seymour Johnson Air Force Base, 8 miles from Busco Beach and ATV Park, and 3.5 miles from the Lane Tree Golf Club and Conference Center. Additionally, the Asset is located 4.5 miles from Wayne Community College.
The Property is located within the Goldsboro, NC Retail Market, which is home to 568 assets totaling 7.2M square feet. The market has been performing well with a vacancy rate of only 2.6% and a positive 12-month net absorption of 31.5K square feet. Additionally, market rent is growing; it is up 3.40% over last year, compared to 2.0% nationally. This shows that tenants want to be in the market, and there is competition for space, given the low vacancy rate. Finally, there are 6.7K square feet of retail under construction, further showing strong demand for retail within Goldsboro, NC.
Overall, Little River Square offers an Owner an excellent opportunity to acquire a well-maintained, stabilized, cash-flowing Asset within a strong-performing retail market.
David Stowe Lic 207642
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Miscellaneous
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront
Building Size
122,453 SF
Building Class
C
Year Built
1982
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
6 Exterior
Building FAR
0.18
Lot Size
15.27 AC
Opportunity Zone
Yes
Parcel Number
2690228003
Zoning
SC - Shopping Center
Parking
1,250 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
107’ on Us-70 Hwy
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
Demographics
Demographics
1 mile
3 mile
5 mile
2024 Population
1,218
19,054
45,390
2020 Population
1,118
16,991
44,015
2029 Population
1,237
19,438
45,624
2024-2029 Projected Population Growth
1.6%
2.0%
0.5%
Daytime Employees
3,946
16,539
35,907
Total Businesses
120
1,449
3,463
Average Household Income
$45,815
$53,245
$64,569
Median Household Income
$23,899
$33,503
$42,445
Total Consumer Spending
$7.5M
$168.1M
$459M
Median Age
41.3
41.0
38.2
2024 Households
362
7,638
18,278
Percent College Degree or Above
9%
11%
14%
Average Home Value
$165,714
$187,109
$204,155
Sale Advisor
Sale Advisor
David Stowe, Senior Vice President
David Stowe is a North Carolina native that has been in commercial real estate in the Triangle market for the past 25 years, primarily dealing with retail landlord and tenant representation, retail and flex investment sales, and buyer representation. Formerly with Hunter & Associates, he was most recently was Senior Vice President with Avison Young. David's focus is on the Colliers retail portfolio throughout the Carolinas. Stowe has more than 25 years of experience and has received industry recognition for notable transactions including three-time winner for largest transaction in category at the Triangle Business Journal’s annual Space Awards. He’s an active member of the Triangle Commercial Association of Realtors and the International Council of Shopping Centers
About the Auction Technology
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Auction Contact
Jameson Kuykendall
Contact
Ten-X Licensing:
Ten-X, LLC Samantha Corbat RE Brkr C34060. Ten-X, LLC Auction Firm 10478. NCALB Disclosure: Broker Contact is the Seller’s Real Estate Listing Agent providing real estate services only. Broker Contact is not acting as an Auctioneer.
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
Contact the Sale Advisor
Little River Square | 1308-1320 W Grantham St
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Little River Square | 1308-1320 W Grantham St
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