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Monroe Center 1620 E Roosevelt Blvd 45,080 SF 100% Leased Retail Building Monroe, NC 28112 $5,000,000 ($110.91/SF) 7.27% Cap Rate
Investment Highlights
- Necessity Based Retailers - Anchored by Southern States, Papa John's and Exotic Smoke and Vape.
- Adjacent Atrium Health Hospital - The largest hospital in Union County with 182 beds and a 24-hour emergency department.
- Proximity to Charlotte - Monroe Center is well positioned along Andrew Jackson Hwy (26,000 VPD) which transitions to E Independence Blvd (38,500 VPD).
Executive Summary
100% occupied Southern States–anchored retail property on 7.36 acres along E. Roosevelt Boulevard, Monroe’s primary commercial corridor, offering high visibility and strong traffic exposure. Southern States is 95% of the GLA, alongside Papa John’s, Exotic Smoke & Vape, and a Bank of America ATM, providing daily customer traffic. As a leading agricultural supply and rural lifestyle retailer, Southern States is a strong, necessity-oriented tenant that draws consistent customers from the surrounding community.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
45,080 SF
Building Class
C
Year Built
1994
Price
$5,000,000
Price Per SF
$110.91
Cap Rate
7.27%
NOI
$363,607
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.14
Lot Size
7.36 AC
Opportunity Zone
Yes
Parking
250 Spaces (5.55 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
- Air Conditioning
Nearby Major Retailers
Property Taxes
| Parcel Number | 09-156-004-B | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,610,700 |
Property Taxes
Parcel Number
09-156-004-B
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,610,700
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Monroe Center | 1620 E Roosevelt Blvd
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