1008 Roosevelt Blvd Monroe, NC 28110-2889

This exceptional value-add opportunity presents a 20,000-square-foot shopping center in Monroe, NC, situated on a 2.4-acre lot (APN: 09186014). The single-story, Class C property boasts 9 tenants with 92% occupancy, generating a substantial Net Operating Income (NOI) of $253,730 and a 6.77% cap rate. Priced at $3,750,000 ($187.50/sq ft), this fee-simple investment features a triple-net (NNN) lease structure with multi-tenancy. The property, built in 2002, benefits from recent renovations including a new roof and gutters (2023), HVAC unit replacements, and fresh paint (2024). The parking lot was restriped in June 2024. A shared monument sign is also available. Located on busy Highway 74, the center enjoys high visibility and traffic flow, enhanced by nearby shadow tenants. Shorter lease terms allow for rental adjustments, presenting significant value-add potential. Annual gross scheduled rent beginning December 1, 2024, is projected at $280,704. The property is zoned GB. This well-maintained asset offers immediate cash flow and future growth potential through rent increases and further improvements. One 1,600 sq ft unit is currently vacant.