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Shopping Strip

Lowe's Shadow Center

1300 E Broad Ave, Rockingham, NC 28379

Listing Price: Request For Offer

Gross SF
62,291
Rentable SF
62,291
Lot Size
10.54 acres
Year Built
1970

Investment Overview

LOWE’S SHADOW CENTER • The Subject Property is a 62,291 SF retail center shadow anchored by a high performing Lowe’s Home Improvement in Rockingham, NC • The center is 68% leased, offering an immediate upside opportunity for an investor • Fully leasing the space at $6 PSF with reimbursements, this centers NOI will grow from $122,262 to $334,615, a 174% increase • The center is currently leased to a variety of tenants including Dollar General (18.04% of GLA), a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade of BBB with over 18,000 locations and expanding by 1,000 stores each year HIGH PERFORMING LOWE’S HOME IMPROVEMENT • Lowe’s is a publicly traded (NYSE: LOW) Fortune 500 company with an S&P rating of BBB+ • It is the Nations second Largest Hardware chain, with over 2,200 stores and over $72 billion in annual revenue • Lowe’s has operated at this location since 2000 (20-years) and recently extended the lease 10 more years demonstrating their commitment to the location. • Lowe’s is an essential tenant and sales are up 30% from last year • This location sees 864,000 annual visitors and ranks in the top 35% of all locations in the country (Placer.ai) ATTRACTIVE PRIMARY RETAIL CORRIDOR LOCATION • This Lowe’s Shadow is well located on E Broad Ave (19,500 VPD) which is the primary retail corridor in Rockingham. • Surrounded by 2.5 M SF of retail within a 1 mile radius including Walmart, Tractor Supply, Food Lion, Walgreens, and more. • Located less than 1 mile from First Health Moore Regional Hospital, a 610 Bed hospital with 3,700 employees. • Positioned 2 Miles from Richmond County Airport that sees an average of 28 aircraft operations per day ROCKINGHAM, NC • Rockingham is located approximately 70 miles East of Charlotte and is the county seat of Richmond County. • Home to Rockingham Speedway and Entertainment Complex, which has a capacity of over 34,500 and holds multiple events per year. This track has also been used to film multiple notable movies. • Mackall Army Airfield, a primary training ground for the U.S. Army Special Forces, is located in Rockingham, NC. 270,811 military personnel are assigned to Mackall Army Airfield and Fort Bragg. • Downtown Rockingham is currently being revitalized as part of a ten-year plan named “Shaping Our Future: 2023”.

Investment Highlights

  • Value-Add Opportunity 68% Leased
  • Leasing At $6 PSF | 174% Increase In NOI
  • Shadow To High Performing Lowe's
  • Dollar General Anchor
  • Primary Retail Corridor
  • 2.5M SF Retail 1-Mile Radius

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Shopping Strip

Lowe's Shadow Center

Listing Price: Request For Offer

Gross SF
62,291
Rentable SF
62,291
Lot Size
10.54 acres
Year Built
1970

Investment Highlights

  • Value-Add Opportunity 68% Leased
  • Leasing At $6 PSF | 174% Increase In NOI
  • Shadow To High Performing Lowe's
  • Dollar General Anchor
  • Primary Retail Corridor
  • 2.5M SF Retail 1-Mile Radius

Investment Overview

LOWE’S SHADOW CENTER • The Subject Property is a 62,291 SF retail center shadow anchored by a high performing Lowe’s Home Improvement in Rockingham, NC • The center is 68% leased, offering an immediate upside opportunity for an investor • Fully leasing the space at $6 PSF with reimbursements, this centers NOI will grow from $122,262 to $334,615, a 174% increase • The center is currently leased to a variety of tenants including Dollar General (18.04% of GLA), a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade of BBB with over 18,000 locations and expanding by 1,000 stores each year HIGH PERFORMING LOWE’S HOME IMPROVEMENT • Lowe’s is a publicly traded (NYSE: LOW) Fortune 500 company with an S&P rating of BBB+ • It is the Nations second Largest Hardware chain, with over 2,200 stores and over $72 billion in annual revenue • Lowe’s has operated at this location since 2000 (20-years) and recently extended the lease 10 more years demonstrating their commitment to the location. • Lowe’s is an essential tenant and sales are up 30% from last year • This location sees 864,000 annual visitors and ranks in the top 35% of all locations in the country (Placer.ai) ATTRACTIVE PRIMARY RETAIL CORRIDOR LOCATION • This Lowe’s Shadow is well located on E Broad Ave (19,500 VPD) which is the primary retail corridor in Rockingham. • Surrounded by 2.5 M SF of retail within a 1 mile radius including Walmart, Tractor Supply, Food Lion, Walgreens, and more. • Located less than 1 mile from First Health Moore Regional Hospital, a 610 Bed hospital with 3,700 employees. • Positioned 2 Miles from Richmond County Airport that sees an average of 28 aircraft operations per day ROCKINGHAM, NC • Rockingham is located approximately 70 miles East of Charlotte and is the county seat of Richmond County. • Home to Rockingham Speedway and Entertainment Complex, which has a capacity of over 34,500 and holds multiple events per year. This track has also been used to film multiple notable movies. • Mackall Army Airfield, a primary training ground for the U.S. Army Special Forces, is located in Rockingham, NC. 270,811 military personnel are assigned to Mackall Army Airfield and Fort Bragg. • Downtown Rockingham is currently being revitalized as part of a ten-year plan named “Shaping Our Future: 2023”.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

Financing By

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