This property has sold.

Details: Retail

Asking Price: $5,450,000

Square Feet: 53,867 SF

Asking Cap Rate: 8.31%

Year Built: 2000

NOI: $452,000

SOLD – Northeast Plaza

6685 East Elizabethtown Road, Lumberton, NC


  • Food Lion anchored center where the grocer dominates this side of the market
  • Recent Food Lion five-year renewal without any landlord conditions
  • Minimal retail competition in this submarket of Lumberton, NC
  • Strong Food Lion sales at $9,400,000 ($285psf) putting the grocer at a health ratio of 3.25%
  • 13% Food Lion sales increase from 2017 to 2019
  • Anchor tenant has been in the center for over 20 years
  • Food Lion lease is backed by Ahold Delhaize, Ahold Delhaize boasts a credit rating of BAAA1
  • Recent lease with WellCare shows the leasing demand for the market


  • 72% of the GLA is made up of National Tenants
  • 75% of the Revenue is made up of National Tenants
  • Northeast Plaza is the only pure play grocery anchored center in the submarket
  • One of three Food Lions in the Lumberton market
  • E-Commerce resistant tenant mix with 100% of the leased GLA made up of grocery, service, medical and restaurants
  • Asset presents stable NOI for an investor with great upside through the lease up of 5,525sf of existing vacancy
  • High occupancy levels in the immediate area small shop vacancies at <5%

This property has sold.