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Shopping Strip

Salisbury Shopping Center

1030 Freeland Dr, Salisbury, NC 28144

Listing Price: $6,391,875

Cap Rate
8.00%
Gross SF
29,722
Rentable SF
29,722
Price/Gross SF
$215.06
Lot Size
3.34 acres
Year Built
2007

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 29,722-square-foot, multi-tenant retail center located in Salisbury, North Carolina. Salisbury Shopping Center is currently 100 percent leased, and all leases are triple-net. Anchored by a top-ranking CATO, tenants consist of Papa Johns, It’s Fashion, DentalWorks, El Patron Mexican Grill & Cantina, Metro by T-Mobile, City Nails & Spa, Cricket Wireless, and Tobacco & Vape Store. Constructed in 2007, the center includes two multi-tenant buildings situated on a 3.34-acre parcel with ample paved parking.

Shadow-anchored by Walmart Supercenter, the subject property is located in a prime retail trade area in the western quadrant of Interstate 85 and East Innes Street (Highway 52). Traffic counts are approximately 79,841 vehicles per day on Interstate 85, and 28,735 vehicles per day on Innes Street. Salisbury Shopping Center is positioned near numerous national and regional retailers including Office Depot, Big Lots, Ashley Furniture, Harbor Freight, McDonald’s, Panera Bread, Chick-fil-A, Starbucks, Dunkin, Outback Steakhouse, Firestone Complete Auto Care, FedEx, Enterprise Rent-A-Car, Lowe’s Home Improvement, Walgreens, Buffalo Wild Wings, Chipotle, Food Lion, Cinemark Tinseltown, Marshalls, Staples, Old Navy, Dollar Tree, and many more. Several national hotel chains are in close proximity, including Courtyard by Marriott, Holiday Inn, Super 8, and Comfort Suites, providing additional traffic to the area.

Investment Highlights

  • 29,722-Square-Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart Supercenter
  • Property is Comprised of Two Multi-Tenant Buildings Situated on a 3.34-Acre Parcel
  • Anchored by CATO | Publicly Traded Company (NYSE: CATO) | This Location Ranks in the 86th Percentile for the State of North Carolina and 85th Nationwide Compared to Other CATO Locations
  • Strong Tenant Mix | 53% of the Gross Leasable Area is Leased to National or Regional Retailers
  • Traffic Counts Are Approximately 79,841 Vehicles Per Day on Interstate 85, and 28,735 Vehicles Per Day on Innes Street

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Shopping Strip

Salisbury Shopping Center

Listing Price: $6,391,875

Cap Rate
8.00%
Gross SF
29,722
Rentable SF
29,722
Price/Gross SF
$215.06
Lot Size
3.34 acres
Year Built
2007

Investment Highlights

  • 29,722-Square-Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart Supercenter
  • Property is Comprised of Two Multi-Tenant Buildings Situated on a 3.34-Acre Parcel
  • Anchored by CATO | Publicly Traded Company (NYSE: CATO) | This Location Ranks in the 86th Percentile for the State of North Carolina and 85th Nationwide Compared to Other CATO Locations
  • Strong Tenant Mix | 53% of the Gross Leasable Area is Leased to National or Regional Retailers
  • Traffic Counts Are Approximately 79,841 Vehicles Per Day on Interstate 85, and 28,735 Vehicles Per Day on Innes Street

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 29,722-square-foot, multi-tenant retail center located in Salisbury, North Carolina. Salisbury Shopping Center is currently 100 percent leased, and all leases are triple-net. Anchored by a top-ranking CATO, tenants consist of Papa Johns, It’s Fashion, DentalWorks, El Patron Mexican Grill & Cantina, Metro by T-Mobile, City Nails & Spa, Cricket Wireless, and Tobacco & Vape Store. Constructed in 2007, the center includes two multi-tenant buildings situated on a 3.34-acre parcel with ample paved parking. Shadow-anchored by Walmart Supercenter, the subject property is located in a prime retail trade area in the western quadrant of Interstate 85 and East Innes Street (Highway 52). Traffic counts are approximately 79,841 vehicles per day on Interstate 85, and 28,735 vehicles per day on Innes Street. Salisbury Shopping Center is positioned near numerous national and regional retailers including Office Depot, Big Lots, Ashley Furniture, Harbor Freight, McDonald’s, Panera Bread, Chick-fil-A, Starbucks, Dunkin, Outback Steakhouse, Firestone Complete Auto Care, FedEx, Enterprise Rent-A-Car, Lowe’s Home Improvement, Walgreens, Buffalo Wild Wings, Chipotle, Food Lion, Cinemark Tinseltown, Marshalls, Staples, Old Navy, Dollar Tree, and many more. Several national hotel chains are in close proximity, including Courtyard by Marriott, Holiday Inn, Super 8, and Comfort Suites, providing additional traffic to the area.

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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