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    New Retail Strip Center Space Title is generated by Realmo AI

    5533 Corporation Dr, Hope Mills, NC 28348

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    New retail space available in growing Hope Mills area.

    Type:Retail
    Property size:
    15,009 SF
    Added:
    Aug 14, 2024
    Days on Market:
    656
    Last Refresh:
    May 12 at 9:15 pm

    Property Features for 5533 Corporation Dr

    General Information

    Standard status
    Active
    Size
    15,009 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2024

    Spaces For Lease

    at 5533 Corporation Dr Contact us

    We can help!

    Listing Contact
    Susan Evans
    Susan Evans

    Listing agent Susan Evans License #NC 93980

    Listing office Grant-Murray Real Estate

    Listing date Aug 14, 2024

    Source Crexi

    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 Grant-Murray Real Estate

    HighLights

    • New retail strip center built in 2024 with 4,816 SF of leasable space.
    • Located in a rapidly growing area near a large subdivision and multifamily project.
    • Strong co‑tenancy with established businesses.
    • Flexible leasing options: units can be leased individually or combined.
    • Located just half a mile from I‑95.
    • Tenant Improvement Allowance (TIA) available.

    Overview

    The newly constructed retail strip center at 5533 Corporation Dr. offers 15,009 SF of commercial space and is ready for tenants. The center benefits from co-tenancy, with Tropical Smoothie, Jersey Mike’s, and BBQ Restaurant as neighboring businesses. There are currently four units totaling 4,816 SF available for lease. These spaces may be leased individually or combined, offering flexibility for a variety of retail, service, or professional uses. Units will be delivered in cold, dark shell condition, with Tenant Improvement Allowance (TIA) to be determined based on tenant credit and lease terms. A 10-year lease term is preferred but negotiable. Situated just half a mile from I-95, this area is experiencing rapid growth and development. It features a large subdivision with 2200 homes along Gray's Creek, providing a mix of modern and traditional residences. Additionally, there's a multifamily project nearby with over 200 units, accommodating diverse housing needs. The Eagles Cove subdivision project to start development this year; this site is approved for 248 homes. Another development project of over 300 apartments is planned to start development in the near future.
    Property Profile Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Auto Repair Shop Department Store HVAC Service Bar & Pub Discount Store Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hope Mills
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.911438
    Latitude
    34.940293

    Nearby Similar for Lease

    • $350/Mo

      Office Space in Hope Mills

      Office space for rent with utilities included near I-95.
      4950 Cameron Road, Hope Mills, NC 28348
      View Details
    • $15 SF/Yr
      20,000 SF

      New Flex Building, Build-to-Suit

      20,000 SF flex building available Q2-Q3 2026.
      3456 Black and Decker Rd, Hope Mills, NC 28348
      View Details
    • $1,600/Mo
      1,191 SF

      Hope Mills Commercial Space

      Commercial space for rent in a high-traffic area.
      4807 S Main Street, Hope Mills, NC 28348
      View Details

    FAQs

    What type of property is this?
    Strip mall - New retail space available in growing Hope Mills area.
    Where is this strip mall located?
    The property is located at 5533 Corporation Dr Hope Mills, NC.
    What are key features of this property?
    This property features: New retail strip center built in 2024 with 4,816 SF of leasable space.; Located in a rapidly growing area near a large subdivision and multifamily project.; **Strong co‑tenancy** with established businesses.
    (919) 920-2140 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Susan Evans
    Susan Evans
    Real Estate License ID: NC 93980
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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