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Shopping Neighborhood

Big Lots

1140 W Broad St, Dunn, NC 28334

Listing Price: $1,983,348

Cap Rate
8.75%
Gross SF
43,434
Rentable SF
43,434
Price/Gross SF
$45.66
Lot Size
1.87 acres
Year Built
1973

Investment Overview

Marcus and Millichap is pleased to present this fully leased neighborhood center,
anchored by Big Lots. The property is located in the heart of Dunn, NC. The property is conveniently positioned on 1.87 acres and was
delivered in 1973 with a recent interior remodel taking place 2019. This two-tenant retail center is situated just off of U.S. Hwy 421 (W Cumberland St), which transports over 21,000 vehicles per day. Property is also located off of a four-way signalized intersection and next door to Crossroads Ford of Dunn-Benson.

A strong highlight of this asset is it's location and proximity to
Raleigh and Fayetteville. The property is under 45 miles away from Raleigh, NC and
roughly 25 miles away from Fayetteville, NC.

Big Lots is the primary tenant in the space, occupying +/- 35,000 square feet on a NNN lease. Big Lots
recently completed over $200,000 worth of upgrades and renovations to the space. Vintage Thrift of Dunn is the secondary tenant occupying 8,000 square feet on a NNN lease that expires in 2026.

The adjacent lot to the property is also listed for sale. The lot is 0.8 acres and cleared for future development.

The submarket boasts a vacancy rate below 2%.

Located in Harnett County, the property offers significant upside as an investment.
Harnett County has a total population of over 138,000 people. The total population of the
Raleigh-Durham-Cary combined statistical area is over 2.2 million people.

Note-worthy employers in the area include; Adusa Distribution and Transportation,
Campbell University, Warren Oil, Godwin Manufacturing Co, and more.

The daytime employment within a 10 mile radius of the property is approaching 22,000
people.

Investment Highlights

  • New Lease Extension - 2030
  • NNN Lease - Landlord Responsible for Roof & Structure
  • Two-Tenant Retail Center, Anchored by Big Lots, Inc.
  • Attractive Rent Increases
  • Long-Term Occupancy
  • Proximity to Raleigh-Durham and Fayetteville
  • Recent Interior Remodel - 2019
  • Dense Retail Corridor

Exclusively Listed By

Financing By

Shopping Neighborhood

Big Lots

Listing Price: $1,983,348

Cap Rate
8.75%
Gross SF
43,434
Rentable SF
43,434
Price/Gross SF
$45.66
Lot Size
1.87 acres
Year Built
1973

Investment Highlights

  • New Lease Extension - 2030
  • NNN Lease - Landlord Responsible for Roof & Structure
  • Two-Tenant Retail Center, Anchored by Big Lots, Inc.
  • Attractive Rent Increases
  • Long-Term Occupancy
  • Proximity to Raleigh-Durham and Fayetteville
  • Recent Interior Remodel - 2019
  • Dense Retail Corridor

Investment Overview

Marcus and Millichap is pleased to present this fully leased neighborhood center, anchored by Big Lots. The property is located in the heart of Dunn, NC. The property is conveniently positioned on 1.87 acres and was delivered in 1973 with a recent interior remodel taking place 2019. This two-tenant retail center is situated just off of U.S. Hwy 421 (W Cumberland St), which transports over 21,000 vehicles per day. Property is also located off of a four-way signalized intersection and next door to Crossroads Ford of Dunn-Benson. A strong highlight of this asset is it's location and proximity to Raleigh and Fayetteville. The property is under 45 miles away from Raleigh, NC and roughly 25 miles away from Fayetteville, NC. Big Lots is the primary tenant in the space, occupying +/- 35,000 square feet on a NNN lease. Big Lots recently completed over $200,000 worth of upgrades and renovations to the space. Vintage Thrift of Dunn is the secondary tenant occupying 8,000 square feet on a NNN lease that expires in 2026. The adjacent lot to the property is also listed for sale. The lot is 0.8 acres and cleared for future development. The submarket boasts a vacancy rate below 2%. Located in Harnett County, the property offers significant upside as an investment. Harnett County has a total population of over 138,000 people. The total population of the Raleigh-Durham-Cary combined statistical area is over 2.2 million people. Note-worthy employers in the area include; Adusa Distribution and Transportation, Campbell University, Warren Oil, Godwin Manufacturing Co, and more. The daytime employment within a 10 mile radius of the property is approaching 22,000 people.

Exclusively Listed By

Financing By

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