1873 Ehringhaus St Elizabeth City, NC 27909
- Retail space
- 10.92 lot acres
Current Use by Public Records
- US Coast Guard / Military Base
Property Details for 1873 Ehringhaus St
- Year built
- 1990
- Construction
- WOOD
- Lot size
- 10.92 lot acres
- Zone code
- GB
- Property type
- Retail space
- APN
- 891301050160
- APU
- 891301050160
Description
This exceptional 227,399 square foot shopping center in Elizabeth City, North Carolina presents a compelling investment opportunity. Boasting a 99% occupancy rate and a strong 9.00% capitalization rate, the property generates a substantial net operating income (NOI) of $1,725,174. Anchored by nationally recognized tenants including Dollar Tree, Planet Fitness, Harbor Freight, Ollie's Bargain Outlet, and the US Coast Guard, the center benefits from a diverse and stable tenant mix. The property comprises two single-story buildings on a sizable 34.96-acre lot, offering ample parking with 1,097 spaces. Built in 1990, the center has undergone significant capital improvements exceeding $1.4 million, encompassing roof replacements, HVAC upgrades, asphalt repairs, and signage enhancements. The property features 18 units and 15 tenants, with 74% of the gross leasable area occupied by tenants for over a decade. Its strategic location, situated between two signalized intersections and near major retailers like Lowe's and Chick-fil-A, ensures high visibility and accessibility. The General Business (GB) zoning allows for a wide range of future uses, adding to its long-term value. The asking price is $19,168,000, representing a price per square foot of $84.29. This is a rare opportunity to acquire a well-established, high-performing retail center in a thriving market.
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
- Elizabeth City
- County
- Pasquotank
- State
- North Carolina
- Longitude
- -76.2513
- Latitude
- 36.2888
- CBSA code
- 21020
- CBSA name
- ELIZABETH CITY, NC MICROPOLITAN STATISTICAL AREA
