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    Spence Ave Goldsboro, NC 27534

    Sponsored
    For Sale
    $8,500,000

    14-Tenant Net Lease Shopping Center

    Property size:
    34,895 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 34,895 square foot, 14-tenant shopping center in Goldsboro, North Carolina. Boasting 100% occupancy and a strong NOI of $605,451, this property offers a 7.12% cap rate at an asking price of $8,500,000. Built in 1988 on a 5.5-acre lot, the single-building property benefits from a Net Lease structure with rent bumps already in place. Two key tenants, GameStop and Sun Com Mobile, have recently renewed their leases, demonstrating market confidence. The center enjoys a prime location near Seymour Johnson Air Force Base, supporting a large customer base, and is also conveniently situated near the Goldsboro YMCA, Hampton Inn, Best Western, and other significant businesses. The property's proximity to a high-volume area, combined with the strong tenant mix and favorable lease terms, makes this a compelling investment prospect for discerning buyers. The median home value within a two-mile radius is $185,000, indicating a robust local economy. This versatile space is ideal for various retail applications, offering a solid foundation for long-term growth and return on investment. The property is zoned for general business use.

    Property Features for 0 Spence Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    34,895 SF
    Lot Size
    239,580 SF

    Building Details

    Year Built
    1988
    Buildings
    1

    HighLights

    • $8,500,000 asking price, 7.12% cap rate, and $605,451 NOI.
    • 100% occupied, 14‑tenant shopping center with built‑in rent bumps.
    • 34,895 square feet on a 5.5‑acre lot in Goldsboro, NC.
    • Net lease (NN) investment opportunity with a strong tenant base including GameStop and Sun Com Mobile.
    • Located near Seymour Johnson Air Force Base and other major retailers and amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Map

    City
    Goldsboro
    County
    Wayne
    State
    North Carolina
    Longitude
    -77.9482977
    Latitude
    35.383575

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    FAQs

    What type of property is this?
    Lifestyle center - 14-Tenant Net Lease Shopping Center
    Where is this lifestyle center located?
    The property is located at Spence Ave Goldsboro, NC.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: $8,500,000 asking price, 7.12% cap rate, and $605,451 NOI.; 100% occupied, 14-tenant shopping center with built-in rent bumps.; 34,895 square feet on a 5.5-acre lot in Goldsboro, NC.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Spence Ave Goldsboro, NC 27534
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