3616-3650 Ramsey St
Fayetteville, NC 28311
Retail Property For Sale

The Offering provides an opportunity to acquire a stabilized retail shopping center anchored by Dollar Tree, It's Fashion Metro, and Badcock Home Furniture. All three anchor tenants are on corporate leases with significant term remaining. The property is priced well below replacement cost and features an out-lot pad that has the potential to be developed in the future, allowing for the possibility of long-term upside. The subject property underwent a multi-million dollar renovation that began in August, 2011 and was completed in February 2012. The renovation included a complete interior demo down to the shell, re-facing of the facade, and a sub-division of the property. There was also new, front split faced block, stucco, sheetrock, electrical, plumbing, HVAC, ceilings, lighting, flooring, etc. A complete renovation of the sprinkler system with the addition of a full alarm system with pull stations, horns, strobes, backflow preventer, etc. The roof was upgraded with new gutters, downspouts, parapets and flashing. There was a complete 1-inch asphalt overlay of the entire parking lot (front, sides and rear), and upgraded with all new parking lot lighting and landscaping. Located in a growing retail corridor, Ramsey Street's northern stretch has seen increased residential growth, expansion at Methodist University, numerous commercial developments, and the introduction of the Outer Loop. The Outer Loop, also known as interstate 295, will connect I-95 to Fort Bragg. In 2007, Walmart spurred the growth in the corridor when they opened a large, freestanding Supercenter to replace their old store.