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404-424 W Main St
Havelock, NC 28532
Century 21 Plaza · Retail Property For Sale
Investment Highlights
- Fully leased retail/flex property generating immediate income with upside potential.
- Multiple tenants on month-to-month agreements at below-market rental rates allow for rent adjustment opportunities.
- Building signage space available for all tenants to enhance visibility.
- Located approximately 1.1 miles from Marine Corps Air Station Cherry Point, a major regional employer.
- Highway Commercial (HC) zoning supports a wide variety of commercial uses.
Executive Summary
This income-producing property offers a diversified tenant mix on a highly accessible corridor in Havelock, NC. Spanning approximately 20,922 square feet on 1.64 acres, the asset delivers stable cash flow with 100% occupancy and an estimated net operating income of $71,406. Current tenants include professional and service-oriented businesses such as Tekla Research, H&R Block, Snawley Insurance & Financial, and Science Applications International, among others. Several tenants operate under below-market rents, presenting opportunity for future rent growth and enhanced value.
Positioned along West Main Street (US-70), the property benefits from strong visibility and quick connectivity to local and regional destinations. Located just over one mile from Marine Corps Air Station Cherry Point, the property captures consistent activity from one of the area’s largest economic drivers. Highway Commercial (HC) zoning allows for a broad range of tenant uses, providing flexibility for future repositioning and tenant retention strategies. With building signage available for tenants and municipal utilities in place, this property is poised for continued performance and long-term upside for investors seeking an established asset in a growing market.
Positioned along West Main Street (US-70), the property benefits from strong visibility and quick connectivity to local and regional destinations. Located just over one mile from Marine Corps Air Station Cherry Point, the property captures consistent activity from one of the area’s largest economic drivers. Highway Commercial (HC) zoning allows for a broad range of tenant uses, providing flexibility for future repositioning and tenant retention strategies. With building signage available for tenants and municipal utilities in place, this property is poised for continued performance and long-term upside for investors seeking an established asset in a growing market.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
22,922 SF
Building Class
B
Year Built
1985
Price
$875,000
Price Per SF
$38.17
Cap Rate
8.16%
NOI
$71,406
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.32
Lot Size
1.64 AC
Zoning
Highway Commercial (HC) - Highway Commercial. There is a link to the Zoning Table below.
Parking
81 Spaces (3.53 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 6-051-007 | Improvements Assessment | $936,900 |
| Land Assessment | $361,370 | Total Assessment | $1,298,270 |
Property Taxes
Parcel Number
6-051-007
Land Assessment
$361,370
Improvements Assessment
$936,900
Total Assessment
$1,298,270
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