216-234 W Cole Ave
Raeford, NC 28376
Raeford Hoke Village · Retail Property For Sale
Investment Highlights
- Three of five tenants have been at this location since it opened in the early 1980’s
- Food Lion recently extended its lease for 10 years and is the dominant grocer in the region with sales trending up since 2012
- All tenants are open post COVID
- Property has excellent recent maintenance history (ask agent)
- Food Lion underwent a $2+ million renovation in 2015 at their sole expense
Property Facts
Sustainability
Sustainability
ENERGY STAR® Energy Star is a program run by the U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) that promotes energy efficiency and provides simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations partner with the EPA to deliver cost-saving energy efficiency solutions that protect the climate while improving air quality and protecting public health. The Energy Star score compares a building’s energy performance to similar buildings nationwide and accounts for differences in operating conditions, regional weather data, and other important considerations. Certification is given on an annual basis, so a building must maintain its high performance to be certified year to year. To be eligible for Energy Star certification, a building must earn a score of 75 or higher on EPA’s 1 – 100 scale, indicating that it performs better than at least 75 percent of similar buildings nationwide. This 1 – 100 Energy Star score is based on the actual, measured energy use of a building and is calculated within EPA’s Energy Star Portfolio Manager tool.
About 216-234 W COLE AVE , RAEFORD, NC 28376
A 73,530 SF grocery-anchored community shopping center with a mix of national and regional accredited tenants. A majority of the center has been occupied by the same 3 tenants since its development in the early 1980’s, demonstrating the intrinsic vitality of the real estate. Food Lion occupies 43% of the GLA and is the dominant grocer in the region with upward trending sales. This, combined with the fact that the grocer recently extended its lease for 10 years, further speaks to the location’s strength and longevity. Both Badcock and Cato extended leases during the pandemic showing long term commitment to the center. The subject property sits on 8.76 acres, and includes an approximately 0.58 acre undeveloped outparcel, allowing for further upside. Parking is ample with over 400 surface spaces. The center is unique in that it serves not only the general trade area, but the Fort Bragg Military Installation as well. Fort Bragg’s population stands at just over 67,700, made up of 53,700 troops and 14,000 civilians. The base supports a population of roughly 260,000, including military families, contractors, retirees, and others.
Property Taxes
| Parcel Number | 694241201119 | Improvements Assessment | $3,218,510 |
| Land Assessment | $1,762,880 | Total Assessment | $4,981,390 |
Property Taxes
