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Shopping Neighborhood

Scotland Mall

900 US-401, Laurinburg, NC 28352

Listing Price: $3,475,000

Cap Rate
7.50%
Gross SF
54,852
Rentable SF
54,852
Price/Gross SF
$63.35
Lot Size
6.40 acres
Year Built
1988

Investment Overview

SCOTLAND MALL • The subject property is a 54 ,852 SF Retail Shopping Center in Laurinburg, SC • Leasing Momentum | Executed 10-Year Planet Fitness Lease & 5-Year Roses extension in 2020 • Lowes Home Improvement Shadow Center with Starbucks and Chick Fil Outparcels (NAP) • Complimentary mix of service-based and internet resistant shops • Below market rents • New Parking Lot Overlay in 2020 HIGH CREDIT TENANTS | LOW RENTS • Planet Fitness executed a 10-Year lease in 2020 • Planet Fitness is guaranteed by Excel Fitness Holdings, one of the largest Planet Fitness franchise groups based in the Austin area with over 80 locations across Texas, Oklahoma, Arkansas, Missouri, North Carolina, and Virginia • Replaceable Rental Rate | Planet Fitness pays $7.50 in rent • Roses executed a 5-Year lease extension in 2020, confirming their long-term strategy at this center • Roses is Guaranteed by Variety Wholesalers, a privately held company that owns 380 retail stores including Roses and Maxway STRATEGIC LOCATION | MAIN RETAIL CORRIDOR • Property sits at the intersection of West BLVD & McColl Rd (22,500 VPD) • Center is located in the heart of a Major Retail Corridor • Lowes Home Improvement Shadow Center with Starbucks and Chick Fil Outparcels (NAP) • Surrounding Tenants include Walmart, Lowes, Belk, Big Lots, Tractor Supply, Chick-fil-a, Pet Sense, & more LAURINBURG, NC • Laurinburg is the county seat of Scotland County, North Carolina • The lifestyle in Laurinburg is relaxed and laid back, but never boring – not with year-round outdoor recreation, a vibrant arts scene, progressive community services and close proximity to beaches, the mountains, big city attractions, and college and professional sports • Laurinburg is still an agricultural community, and it is also the progressive business and cultural center of Scotland County. • Laurinburg is home to St. Andrews University & the Laurinburg Institute

Investment Highlights

  • Adjacent to Walmart & Lowe's
  • New 10-Year Planet Fitness
  • Recent 5-Year Roses Extension
  • Starbuck's & Chick-Fil-A Outparcel's (NAP)
  • Heart of Major Retail Corridor
  • Priced Below Replacement Cost | $63/PSF

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Financing By

Shopping Neighborhood

Scotland Mall

Listing Price: $3,475,000

Cap Rate
7.50%
Gross SF
54,852
Rentable SF
54,852
Price/Gross SF
$63.35
Lot Size
6.40 acres
Year Built
1988

Investment Highlights

  • Adjacent to Walmart & Lowe's
  • New 10-Year Planet Fitness
  • Recent 5-Year Roses Extension
  • Starbuck's & Chick-Fil-A Outparcel's (NAP)
  • Heart of Major Retail Corridor
  • Priced Below Replacement Cost | $63/PSF

Investment Overview

SCOTLAND MALL • The subject property is a 54 ,852 SF Retail Shopping Center in Laurinburg, SC • Leasing Momentum | Executed 10-Year Planet Fitness Lease & 5-Year Roses extension in 2020 • Lowes Home Improvement Shadow Center with Starbucks and Chick Fil Outparcels (NAP) • Complimentary mix of service-based and internet resistant shops • Below market rents • New Parking Lot Overlay in 2020 HIGH CREDIT TENANTS | LOW RENTS • Planet Fitness executed a 10-Year lease in 2020 • Planet Fitness is guaranteed by Excel Fitness Holdings, one of the largest Planet Fitness franchise groups based in the Austin area with over 80 locations across Texas, Oklahoma, Arkansas, Missouri, North Carolina, and Virginia • Replaceable Rental Rate | Planet Fitness pays $7.50 in rent • Roses executed a 5-Year lease extension in 2020, confirming their long-term strategy at this center • Roses is Guaranteed by Variety Wholesalers, a privately held company that owns 380 retail stores including Roses and Maxway STRATEGIC LOCATION | MAIN RETAIL CORRIDOR • Property sits at the intersection of West BLVD & McColl Rd (22,500 VPD) • Center is located in the heart of a Major Retail Corridor • Lowes Home Improvement Shadow Center with Starbucks and Chick Fil Outparcels (NAP) • Surrounding Tenants include Walmart, Lowes, Belk, Big Lots, Tractor Supply, Chick-fil-a, Pet Sense, & more LAURINBURG, NC • Laurinburg is the county seat of Scotland County, North Carolina • The lifestyle in Laurinburg is relaxed and laid back, but never boring – not with year-round outdoor recreation, a vibrant arts scene, progressive community services and close proximity to beaches, the mountains, big city attractions, and college and professional sports • Laurinburg is still an agricultural community, and it is also the progressive business and cultural center of Scotland County. • Laurinburg is home to St. Andrews University & the Laurinburg Institute

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

Financing By

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