3511-3553 M L King Jr Blvd | New Bern, NC 28562
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3511-3553 M L King Jr Blvd
New Bern, NC 28562
New Bern Marketplace-Super Regional Power Ctr · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Anchored by 6 National Credit Tenants: Ross/ULTA Beauty/Hobby Lobby/Five Below/Academy Sports/ West Marine - Corporate NNN Leases
- Long-Term NNN Leases with 6.5-Year WALT, built-in rent increases, and renewal options provide stable income and inflation protection.
- Affluent, Growing Trade Area with 119K+ residents and $96K+ average household income, supporting strong consumer spending.
- Attractive 4.99% Interest-Only Loan with 10-year term, offering a strong 7.80% cash-on-cash return.
- Regionally Dominant Center with no direct competition for over 20 Miles, strong anchors, and high visibility on a 30K+ VPD retail corridor.
- 100% Leased, NNN Asset with national tenants, passive management, and modern 2018 construction minimizing expenses and vacancy risk.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Freestanding
Building Size
270,985 SF
Building Class
B
Year Built
2018
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
22.40 AC
Zoning
NC3 - Shopping Center - Neighborhood
Parking
872 Spaces (3.13 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Air Conditioning
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $27,044,700 | |
| Land Assessment | $6,357,130 | Total Assessment | $33,401,830 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$6,357,130
Improvements Assessment
$27,044,700
Total Assessment
$33,401,830
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