301 Madison Blvd Roxboro, NC 27573

Property Details for 301 Madison Blvd

Year built

1988

Lot size

3.90 lot acres

Property size

29,900 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents the Shops at Roxboro Square, a 29,900 square foot retail center located at 301 S Madison Blvd, Roxboro, NC 27573. The property boasts a strong tenant mix including Buddy's Home Furnishings and State Farm, across 13 units within a single, one-story building constructed in 1988. With 11 tenants currently occupying 89% of the net rentable space, the property generates a substantial NOI of $338,207, representing a 7.75% cap rate on the $4,365,000 asking price. The property features 197 parking spaces situated on a 3.9-acre lot. The center benefits from a strategic location along Roxboro's main retail corridor (S Madison Blvd), experiencing a high volume daily traffic of 22,500 vehicles. Further enhancing its value, the property is shadow-anchored by a government credit tenant, with Person County holding an A1 bond rating from Moody's. Restaurant tenants within the center demonstrate impressive sales exceeding $600 per square foot. The property offers immediate value-add potential with two available shop spaces. A significant portion (67%) of the occupied gross leasable area (GLA) includes annual rent escalations ranging from 2.5% to 7%. The existing rent roll shows an average weighted rent of $13.08 per square foot. This property is situated just 10 minutes from a 1,350-acre Mega Park recently acquired by Microsoft, further solidifying its long-term growth potential. The property is offered as a Core+ investment with a NNN lease type. The price per square foot is $146.

Location Insight

City

Roxboro

County

Person

State

North Carolina

Longitude

-78.9896

Latitude

36.3924