DEALS

Deals

Northside Square – Laurinburg, NC

THE OPPORTUNITY

  • ​Limited Competition
  • ​No grocery competition within 5 miles
  • ​Strong traffic counts with over 15,400 cars daily
  • ​Scotland High School, with over 1,300 students located less than 2 miles away
  • ​76% of the GLA made up of National Tenants
  • ​79% of Rental Income comes from National Tenants
  • ​84% of Rental Income comes from tenants who have been at the center for at least 20 years

THE DEAL POINTS

  • Marketed Asking Price: $2,038,900
  • Marketed Cap Rate: 9.00%
  • NOI: $183,496
  • Square Footage: 43,320 SF
  • Occupancy: 84%

THE HIGHLIGHTS

  • ​Tenant Longevity:
    • ​Food Lion since 1987, 34 years
    • ​Family Dollar since 1996, 25 years
    • ​Magic Nails since 2001, 20 years
    • ​State Employee Credit Union since 2010, 11 years
  • ​2 new leases signed during 2020
  • ​Significant upside through lease up of 6,720sf vacancy
  • ​Family Dollar recently agreed to a 5-year extension
  • ​Food Lion’s 2020 sales: $8,889,903 ($355.60psf)
  • ​New Roof installed in 2015
    • ​20-year warranty

Click Here to View Northside Square Virtual Deal Room