Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 2800 Nc-24
- Year built
- 2016
- Lot size
- 4.58 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 43,000 square foot shopping center in Cameron, NC, presents a compelling investment opportunity. Built in 2016, the property boasts 100% occupancy with 13 tenants, including Dollar Tree, Navy Federal Credit Union, and a diverse mix of retail, dining, and service businesses. The center benefits from a prime location on busy NC Highway 24-87, adjacent to a high-performing Walmart Supercenter, within the Fayetteville MSA. The property features a fee simple ownership structure, a stabilized investment type with a NNN lease structure and credit-rated tenants. The strong NOI of $721,649 contributes to an attractive 7.33% cap rate at an asking price of $9,850,000 ($229.07/sq ft). Recent lease renewals, including a five-year lease with annual rent increases for Kids First Pediatrics of Raeford, demonstrate strong tenant demand. The property sits on a 4.58-acre lot and enjoys significant growth potential due to the explosive population growth in Harnett County (over 50% since 2000) and the proposed development of 18,000+ new housing units. The proximity to Fort Liberty, the world's largest military base, further enhances the property's long-term prospects. The center's strategic location and robust tenant mix create a highly desirable investment opportunity with significant upside potential. The property is offered as a 1031 exchange opportunity.
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
- Cameron
- County
- Harnett
- State
- North Carolina
- Longitude
- -79.0262
- Latitude
- 35.2439
