Fully Leased 7.36% CAP Shopping Center in Camden NC

100 Plank Bridge Road, Camden, NC, USA
  • Property ID: 3574
  • Date added: 03/22/24
  • Post Updated: 2024-03-27 14:51:34
  • Status:
  • Area: 11000 sq ft
  • Lot size: 2.52 acres
  • Year built: 2016

Description

Fully leased Shopping Strip Center in the heart of Camden with a current CAP rate of 7.36%. Built in 2016 with Central Sewer and Natural Gas in the heart of lovely Camden, NC. Five units from 1,662-3,000 sq ft for a total of 11,000 sq ft with 76 parking spaces on 2.52AC listed for $1.1M below tax value. Tenants include Chesapeake Regional Medical Center, Todds Pharmacy (which is closed and subleased to a Church but Todd’s lease is still in force through the end of 2027), Jack & Jenny’s Pizza Company, Hungry Panda, and Waterfall Blossom Cafe. Gross Income is currently $180,550 ($15.22-$17.31 per sq ft) and all leases are NNN with $4.50 per square foot TICAM charges and the lease rates all increase between 2%-3% annually. CAP rates will increase by about 0.2% annually assuming no vacancies and no increases in expenses. Room to build an additional +/-3,500 sq ft between the existing building and Hwy 343 with parking lot and landscaping in place for the expansion area. Todds Pharmacy’s end cap space has a drive thru.

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Features

Features:
  • Survey on file
  • Natural Gas Connected
  • in the heart of Camden NC
  • Parking
  • landscaping
  • parking lot lights!
  • Not in a flood zone
  • Commercial Zoning
Amenities:
  • Landscaping
  • Private Parking
  • access to county water & sewer & good internet
  • Handicapped access
  • Freestanding Building

Documents

Agent

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Properties Qty: 91 Rating:

This style property is located in Camden is currently and has been listed on The Rich Company. This property is listed at $ 2,500,000.00. It has bathrooms, and is 11000 sq ft. The property was built in 2016 year.