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Retail Property in Prime Location

1501 N Howe Street, Southport, NC 28461

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For Sale

$800,000

Prominent retail location with high potential in Southport, North Carolina.

Type:Commercial/Industrial

Property size:

6,752 SF

Lot size:

1.37 Acres

Price / SF:

$118/SF

HighLights

Prominent location at the entrance to the City of Southport, North Carolina.
Anchor property in Smithville Crossing, which includes retail, medical, and restaurants.
Located at one of the entry points into Smithville Crossing.
Surrounded by a wide range of amenities, including shopping centers, dining options, and medical facilities.
Access to major thoroughfares.
Adjacent to the Wingate Hotel.

We can help!

Listing Contact

Trisha B Howarth

For Sale

$800,000

Prominent retail location with high potential in Southport, North Carolina.

Type:Commercial/Industrial

Property size:

6,752 SF

Lot size:

1.37 Acres

Price / SF:

$118/SF

Added:: May 12, 2024
Days on Market:: 771
Last Refresh:: May 20 at 12:38 am

Property Features for 1501 N Howe Street

General Information

Standard status: Active
Size: 6,752 SF
Lot size: 1.37 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1980

We can help!

Listing Contact

Trisha B Howarth

Listing agent Trisha B Howarth License #130760

Listing office Intracoastal Realty

Listing date May 12, 2024

Source Exitrealty

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Intracoastal Realty

HighLights

Prominent location at the entrance to the City of Southport, North Carolina.
Anchor property in Smithville Crossing, which includes retail, medical, and restaurants.
Located at one of the entry points into Smithville Crossing.
Surrounded by a wide range of amenities, including shopping centers, dining options, and medical facilities.
Access to major thoroughfares.
Adjacent to the Wingate Hotel.

Overview

This retail property is located at one of the entry points into Smithville Crossing, which includes retail, medical, and restaurants. The property is considered one of the anchor properties and is situated near the Wingate Hotel. Located at the entrance to the City of Southport, North Carolina, the property benefits from a prominent location. The surrounding area offers shopping centers, dining options, and medical facilities. With access to major thoroughfares, this property is suitable for a variety of business types. The property, formerly a Kerr Drug location, has 6,752 square feet of space. The building may be useable based on specific business objectives.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$106.1k	$15.72
− Vacancy	−$10.9k	−$1.62
EGI	$95.2k	$14.10
− OpEx	−$28.6k	−$4.23
NOI	$66.6k	$9.87

6,752 SF · lease $15.72/SF/yr · vacancy 10.30% · expense 30.00%

Alternative Uses

Best Use

Retail

$952.1K

$833.1K – $1.11M (±1% cap)

NOI $66,646 @ 7.0% cap · market cap 8.33%

Second Best

—

no second resolved use

Theoretical Best

Multifamily LT 5

$82.67M

$72.34M – $96.45M (±1% cap)

NOI $5,787,200 @ 7.0% cap · market cap 723.40%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Retail properties & Spaces

Suggested Use

Location Insight

Map
Local Demand

City: Southport
County: Brunswick
State: North Carolina
Longitude: -78.0265
Latitude: 33.9375

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For sale
Retail properties & Spaces
NC
Southport
28461
1501 N Howe Street

What type of property is this?

Retail property - Prominent retail location with high potential in Southport, North Carolina.

Where is this retail property located?

The property is located at 1501 N Howe Street Southport, NC.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: Prominent location at the entrance to the City of Southport, North Carolina.; Anchor property in Smithville Crossing, which includes retail, medical, and restaurants.; Located at one of the entry points into Smithville Crossing.