408 Western Blvd
Jacksonville, NC 28546
Auction:12/4 - 12/6: Western Plaza · Retail Property For Sale

***CLOSING TIMEFRAME IS 30 DAYS. PURCHASER SHALL HAVE ONE OPTION TO EXTEND CLOSING DATE BY 15 DAYS EACH, FOR A TOTAL CLOSING PERIOD OF 45 DAYS, AS SPECIFIED IN THE PURCHASE CONTRACT AND ADDENDUM.*** Property tours are available by appointment ONLY. Please contact Erin Green at 704-714-2377 or green@berkeleycap.com to schedule. Investment Highlights The site is encumbered by a ground lease with 54 years of fixed rent control remaining - bidding on leasehold interest only Great tax advantaged cash flow generator - leasehold interest allows for more depreciation per dollar invested Five Guys and Popeyes both renewed for an additional 5 years (bringing their remaining lease terms to 10 years total). The center benefits from its close proximity to the intersection of US 17 and US Business 17. National retailers such as Academy Sports, Publix, Walmart Neighborhood Market, Aldi, Buffalo Wild Wings, Krispy Kreme, etc have all recently entered the Jacksonville market. Positioned on Western Blvd (41k VPD), the center is afforded exceptional visibility. The center is situated directly between the entrance for Coastal Carolina Community College and the access road for Jacksonville Country The center is situated directly between the entrance for Coastal Carolina Community College and the access road for Jacksonville Country Club. Investment Overview Western Plaza ("The Property") is a fully occupied, single story retail building located in Jacksonville, NC. National tenants in the center include Five Guys and Popeye's restaurants. Western Plaza is anchored by Five Guys and Popeye's, with good visibility along Western Blvd (41k VPD) and a two minute drive from NC 17 (42k VPD). Western Blvd is the premier retail destination for Jacksonville, and many national tenants continue to open new stores and succeed on this corridor. The center is surrounded by major retailers including Home Depot, Walmart, Sam's Club, Target, Rite Aid, CVS, Walgreens, and Jacksonville Mall (Belk, Ulta, Chick-fil-A), all of which create unparalleled consumer draws for this submarket. Economic drivers in the immediate vicinity include Onslow Memorial Hospital (149 beds) and Coastal Carolina Community College (5,182 students). The Marine Corps Base at Camp Lejune has an estimated $4.35B impact on Jacksonville and the surrounding area, while the Marine Corps Air Station, New River, has an impa