Current Use by Public Records
- Interim HealthCare of Pinehurst NC / Assisted Living Facility / Hospice
Property Details for 206 Commerce Ave
- Year built
- 1986
- Lot size
- 0.52 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional value-add opportunity presents a fully leased, 7,500 square foot, single-story shopping center in Southern Pines, North Carolina. Located at 206-216 Commerce Avenue, this L-shaped property enjoys a high-traffic location at the intersection of Commerce Avenue and Turner Street, just moments from Highways 15/501 and 211. The property's strategic positioning ensures excellent visibility and benefits from its proximity to major retailers including Walmart, Staples, Goodwill, and Lowe's. Currently boasting 100% occupancy with six diverse tenants, including Qwik Pack & Ship, Bella Vie Hair Studio, Anthony's Barber Shop, and Imagine Moore Events, this center offers a vibrant and established retail environment. Built in 1986, the property sits on a 0.52-acre lot and is zoned GB - General Business. The asking price is $2,500,000, representing a price per square foot of $333.33, with a current Net Operating Income (NOI) of $51,997 and a 2.08% capitalization rate. This property presents a compelling investment opportunity for those seeking a stable, high-occupancy retail asset with significant upside potential in a thriving market. The property's APN is 00048101 and is owned by Yadkin Park, LLC.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Southern Pines
- County
- Moore
- State
- North Carolina
- Longitude
- -79.4226
- Latitude
- 35.1614
