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    1873 Ehringhaus St Elizabeth City, NC 27909

    Sponsored
    For Sale
    $19,168,000

    High-Occupancy Shopping Center, Elizabeth City, NC

    Property size:
    227,399 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 227,399 square foot shopping center in Elizabeth City, North Carolina presents a compelling investment opportunity. Boasting a 99% occupancy rate and a strong 9.00% capitalization rate, the property generates a substantial net operating income (NOI) of $1,725,174. Anchored by nationally recognized tenants including Dollar Tree, Planet Fitness, Harbor Freight, Ollie's Bargain Outlet, and the US Coast Guard, the center benefits from a diverse and stable tenant mix. The property comprises two single-story buildings on a sizable 34.96-acre lot, offering ample parking with 1,097 spaces. Built in 1990, the center has undergone significant capital improvements exceeding $1.4 million, encompassing roof replacements, HVAC upgrades, asphalt repairs, and signage enhancements. The property features 18 units and 15 tenants, with 74% of the gross leasable area occupied by tenants for over a decade. Its strategic location, situated between two signalized intersections and near major retailers like Lowe's and Chick-fil-A, ensures high visibility and accessibility. The General Business (GB) zoning allows for a wide range of future uses, adding to its long-term value. The asking price is $19,168,000, representing a price per square foot of $84.29. This is a rare opportunity to acquire a well-established, high-performing retail center in a thriving market.

    Property Features for 1873 Ehringhaus St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    227,399 SF
    Lot Size
    1,522,858 SF

    Building Details

    Year Built
    1990
    Buildings
    2
    Stories
    1
    Units
    18

    HighLights

    • 227,399 SF retail and logistics property.
    • 99% leased, anchored by national credit tenants including Planet Fitness, Ollie's, Dollar Tree, US Government, and Harbor Freight.
    • 74% of GLA occupied by tenants for over 10 years.
    • Over $1.4M in recent capital improvements (roofs, HVAC, asphalt, signage).
    • 34.96‑acre parcel with GB zoning, offering diverse development potential.
    • Strategically located near US Coast Guard, ensuring essential services proximity.
    Property Profile Location Intelligence

    Current Use by Public Records

    US Coast Guard Military Base

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth City
    County
    Pasquotank
    State
    North Carolina
    Longitude
    -76.251277
    Latitude
    36.288759

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    FAQs

    What type of property is this?
    Lifestyle center - High-Occupancy Shopping Center, Elizabeth City, NC
    Where is this lifestyle center located?
    The property is located at 1873 Ehringhaus St Elizabeth City, NC.
    What is the asking price?
    The asking price for this property is $19,168,000.
    What are key features of this property?
    This property features: 227,399 SF retail and logistics property.; 99% leased, anchored by national credit tenants including Planet Fitness, Ollie's, Dollar Tree, US Government, and Harbor Freight.; 74% of GLA occupied by tenants for over 10 years.
    Request Owner's contact information
    1873 Ehringhaus St Elizabeth City, NC 27909
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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
    1873 Ehringhaus St Elizabeth City, NC 27909
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