101 Shr Dr Holden Beach, NC 28462
- Lifestyle centers
- 5,500 SF
- 0.95 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 101 Shr Dr
- Year built
- 1955
- Lot size
- 0.95 lot acres
- Property size
- 5,500 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 5,900 square foot, Class A, mixed-use shopping center and storefront at 101 Southshore Drive in Holden Beach, NC, presents a unique redevelopment opportunity. Situated on a 0.95-acre lot with 230 feet of waterfront access, this property boasts a 100% occupancy rate with local businesses under a triple net lease (NNN) with a remaining term of approximately 1.1 years. The current NOI is $66,737, with a pro-forma NOI projected at $573,300, reflecting a significant potential for increased profitability. Built between 1955 and 1988 and renovated in 2016, the two-story building features three units, 45 parking spaces, and a ground lease expiring December 31, 2025, with 4.5 years remaining. The property is zoned HB-C-1 Commercial and includes 5,900 square feet of air rights. The asking price is $2,499,000, representing a current cap rate of 2.67% and a pro-forma cap rate of 22.94%. Located in the heart of Holden Beach's commercial district, near the public boat ramp and community area, this property benefits from the town's explosive growth and its designation as "America's favorite family beach." The property's location offers significant upside potential for a variety of mixed-use projects. This is a rare opportunity to acquire a prime commercial asset in a rapidly developing coastal market. Call for details on highest and best use opportunities.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Holden Beach
- County
- Brunswick
- State
- North Carolina
- Longitude
- -78.2672
- Latitude
- 33.9158
