This property has sold.
Details: Retail
Square Feet: 43,320 SF
Year Built: 1988
NOI: $185,985
SOLD – Northside Square
1108 Aberdeen Rd, Laurinburg, NC 28352
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 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
This property has sold.