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Shopping Strip

Elmwood Crossing

2653 Hope Mills Rd, Fayetteville, NC 28306

Listing Price: $4,472,500

Cap Rate
8.50%
Gross SF
22,753
Rentable SF
21,800
Price/Gross SF
$196.57
Lot Size
2.86 acres
Year Built
2008

Investment Overview

Marcus & Millichap is pleased to present a retail center located in Fayetteville) NC. The property consists of 22,753 gross square feet (21,800 net) retail strip built in 2008 on 2.96 acres and is 100% leased. The property has 18 suites with 10 tenants currently occupying 13 of the suites. The property is priced at a 8.5% cap rate with second year cap rate of 8.68%.

Tenants include One Stop Academy, K Beauty Supply, 22 Klicks Bar & Grill, Top Tier Solar, Upscale Nails & Hair, the Cigar Box, Lendmark Financial, Happy Cup, George Garden and Flavors Restaurant. A new Biscuitville Restaurant recently opened on the front out parcel with much success (not included in the purchase). There is one remaining out parcel, 1.08 acres available for purchase.

The property is located on the corner of Hope Mills Rd. (NC Hwy 59) and George Owen Rd. (NC Hwy 162. The intersection is signalized. Both roads have 6 lanes. Traffic counts are 32,000 VPD on Hope Mills and 17,000 VPD n George Owen Rd. The property presents high visibility and easy access with two entrances one off each highway. Nearby merchants include Bank of America, Walgreen's, Dollar Tree, Walmart Superstore, Food Lion, and McDonald's.

Fort Bragg is the major driver of the metro’s economy. The base has approximately 55,000 troops and employs more than 12,000 civilians and contractors. Manufacturing has a strong presence in Fayetteville. The Goodyear Tire & Rubber Company, Eaton Corporation and MANN+HUMMEL are a few of the many companies that account for the employment of thousands of workers. The metro also has a vibrant medical sector. Cape Fear Valley Health Systems is one of the largest employers, and other major hospitals include the Womack Army Medical Center and Fayetteville VA Medical Center.

Investment Highlights

  • 2008 Built on Signalized Corener
  • 32k/17k Vehicles per Day (VPD) at Intersection
  • Nearby Merchants: Walmart, Walgreens, CVS, Verizon, McDonalds
  • 100% Leased - Most Leases are NNN
  • Five Mile Population of 128,589
  • Fayetteville is Home to Ft. Liberty - Largest Military Base in the US

Exclusively Listed By

Financing By

Shopping Strip

Elmwood Crossing

Listing Price: $4,472,500

Cap Rate
8.50%
Gross SF
22,753
Rentable SF
21,800
Price/Gross SF
$196.57
Lot Size
2.86 acres
Year Built
2008

Investment Highlights

  • 2008 Built on Signalized Corener
  • 32k/17k Vehicles per Day (VPD) at Intersection
  • Nearby Merchants: Walmart, Walgreens, CVS, Verizon, McDonalds
  • 100% Leased - Most Leases are NNN
  • Five Mile Population of 128,589
  • Fayetteville is Home to Ft. Liberty - Largest Military Base in the US

Investment Overview

Marcus & Millichap is pleased to present a retail center located in Fayetteville) NC. The property consists of 22,753 gross square feet (21,800 net) retail strip built in 2008 on 2.96 acres and is 100% leased. The property has 18 suites with 10 tenants currently occupying 13 of the suites. The property is priced at a 8.5% cap rate with second year cap rate of 8.68%. Tenants include One Stop Academy, K Beauty Supply, 22 Klicks Bar & Grill, Top Tier Solar, Upscale Nails & Hair, the Cigar Box, Lendmark Financial, Happy Cup, George Garden and Flavors Restaurant. A new Biscuitville Restaurant recently opened on the front out parcel with much success (not included in the purchase). There is one remaining out parcel, 1.08 acres available for purchase. The property is located on the corner of Hope Mills Rd. (NC Hwy 59) and George Owen Rd. (NC Hwy 162. The intersection is signalized. Both roads have 6 lanes. Traffic counts are 32,000 VPD on Hope Mills and 17,000 VPD n George Owen Rd. The property presents high visibility and easy access with two entrances one off each highway. Nearby merchants include Bank of America, Walgreen's, Dollar Tree, Walmart Superstore, Food Lion, and McDonald's. Fort Bragg is the major driver of the metro’s economy. The base has approximately 55,000 troops and employs more than 12,000 civilians and contractors. Manufacturing has a strong presence in Fayetteville. The Goodyear Tire & Rubber Company, Eaton Corporation and MANN+HUMMEL are a few of the many companies that account for the employment of thousands of workers. The metro also has a vibrant medical sector. Cape Fear Valley Health Systems is one of the largest employers, and other major hospitals include the Womack Army Medical Center and Fayetteville VA Medical Center.

Exclusively Listed By

Financing By

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