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Shopping Neighborhood

Auction - Lowe’s Shadow Center | 60K SF | 67% Occupied | $99K NOI | 20K VPD

1300 E Broad Ave, Rockingham, NC 28379

Listing Price: $300,000

Gross SF
60,707
Rentable SF
60,707
Price/Gross SF
$4.94
Lot Size
10.16 acres
Year Built
1970

Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace Marcus & Millichap and RI Marketplace are pleased to present Lowe’s Shadow Center - Rockingham (the “Property or “Offering”), a ±60,707 square foot neighborhood retail center located at 1300 E Broad Avenue in Rockingham, North Carolina. Currently ±67% occupied, Lowe’s Shadow Center - Rockingham presents an investor the perfect value-add opportunity in a dense, suburban trade area with multiple upside scenarios. Built in 1970, this multi-tenant, retail asset is comprised of a single-story building containing a total of ±60,707 square feet positioned on one parcel totaling ±10.16 acres. The Property is ±67% occupied by Dollar General and a diverse group of service-oriented retailers. The Property is shadow anchored by a high performing Lowe’s Home Improvement which has operated at this location since 2000 (20+years) and recently extended the lease 10 more years demonstrating their commitment to the location and driving traffic to the Property (not included in offering). Lowe’s Shadow Center - Rockingham is located approximately 70 miles east of Charlotte and is the county seat of Richmond County. The City is home Rockingham Speedway and Entertainment Complex, which has a capacity of over 34,000 and holds multiple events per year. Mackall Army Airfield, a primary training ground for the US Army Special Forces, is located in Rockingham and 270,811 military personnel are assigned to Mackall Army Airfield and Fort Bragg. The Property is ideally positioned on East Broad Avenue which is the primary retail corridor in Rockingham and benefits from traffic counts of 19,500 vehicles per day. Lowe’s Shadow Center is surrounded by 2.5 million square feet of retail within one mile radius including Walmart, Tractor Supply, Food Lion, Walgreens, and more. The Property benefits from dense 2022 demographics with ±31,568 people and an avg household income of ±$50,007 within a 5-mile radius.

Investment Highlights

  • STARTING BID $300,000 | $99K NOI | AUCTION OCTOBER 17-19, 2022
  • 60,707 SF, Lowe's Shadow Anchored Retail Center in Rockingham, NC | LOI with 10 Year Initial Term Received from National Credit Tenant for 20K SF
  • Current NOI of $99,183 | Stabilized NOI of $336,250 (Pro Forma at estimated market $6 PSF NNN)
  • Strong Tenant Lineup including Dollar General and Complemented by a Diverse Group of Service-Oriented Retailers
  • Lowe's Adjacent to property has Operated at Location since 2000 and Recently Extended Lease 10 More Years
  • Rare Value-Add Opportunity at 67% Occupancy with Below Market Rents and Immediate Upside via Lease Up of Remaining Vacancies
  • Well-Located within Region's Primary Retail Corridor with Direct Access and Visibility on E Broad Ave with ±19,500 Vehicles Passing the Site Per Day
  • Surrounded by 2.5M SF of Retail within a 1-Mile Radius including Walmart, McDonald's, Tractor Supply, Food Lion, Walgreens, and More

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Shopping Neighborhood

Auction - Lowe’s Shadow Center | 60K SF | 67% Occupied | $99K NOI | 20K VPD

Listing Price: $300,000

Gross SF
60,707
Rentable SF
60,707
Price/Gross SF
$4.94
Lot Size
10.16 acres
Year Built
1970

Investment Highlights

  • STARTING BID $300,000 | $99K NOI | AUCTION OCTOBER 17-19, 2022
  • 60,707 SF, Lowe's Shadow Anchored Retail Center in Rockingham, NC | LOI with 10 Year Initial Term Received from National Credit Tenant for 20K SF
  • Current NOI of $99,183 | Stabilized NOI of $336,250 (Pro Forma at estimated market $6 PSF NNN)
  • Strong Tenant Lineup including Dollar General and Complemented by a Diverse Group of Service-Oriented Retailers
  • Lowe's Adjacent to property has Operated at Location since 2000 and Recently Extended Lease 10 More Years
  • Rare Value-Add Opportunity at 67% Occupancy with Below Market Rents and Immediate Upside via Lease Up of Remaining Vacancies
  • Well-Located within Region's Primary Retail Corridor with Direct Access and Visibility on E Broad Ave with ±19,500 Vehicles Passing the Site Per Day
  • Surrounded by 2.5M SF of Retail within a 1-Mile Radius including Walmart, McDonald's, Tractor Supply, Food Lion, Walgreens, and More

Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace Marcus & Millichap and RI Marketplace are pleased to present Lowe’s Shadow Center - Rockingham (the “Property or “Offering”), a ±60,707 square foot neighborhood retail center located at 1300 E Broad Avenue in Rockingham, North Carolina. Currently ±67% occupied, Lowe’s Shadow Center - Rockingham presents an investor the perfect value-add opportunity in a dense, suburban trade area with multiple upside scenarios. Built in 1970, this multi-tenant, retail asset is comprised of a single-story building containing a total of ±60,707 square feet positioned on one parcel totaling ±10.16 acres. The Property is ±67% occupied by Dollar General and a diverse group of service-oriented retailers. The Property is shadow anchored by a high performing Lowe’s Home Improvement which has operated at this location since 2000 (20+years) and recently extended the lease 10 more years demonstrating their commitment to the location and driving traffic to the Property (not included in offering). Lowe’s Shadow Center - Rockingham is located approximately 70 miles east of Charlotte and is the county seat of Richmond County. The City is home Rockingham Speedway and Entertainment Complex, which has a capacity of over 34,000 and holds multiple events per year. Mackall Army Airfield, a primary training ground for the US Army Special Forces, is located in Rockingham and 270,811 military personnel are assigned to Mackall Army Airfield and Fort Bragg. The Property is ideally positioned on East Broad Avenue which is the primary retail corridor in Rockingham and benefits from traffic counts of 19,500 vehicles per day. Lowe’s Shadow Center is surrounded by 2.5 million square feet of retail within one mile radius including Walmart, Tractor Supply, Food Lion, Walgreens, and more. The Property benefits from dense 2022 demographics with ±31,568 people and an avg household income of ±$50,007 within a 5-mile radius.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

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