2210 Croatan Hwy Nags Head, NC 27959-8812
- Outlet malls
- 39,550 SF
- 6.22 lot acres
Current Use by Public Records
- T.J. Maxx / Men'S Clothing Store / Sunglasses Store
- OBX Martial Arts / Martial Arts School
- Staples Travel Services / Passport Photo Processor / Passport Office
- Coastal Memories Photography / Photography Service
- PetSmart / Pet Supply Store
Property Details for 2210 Croatan Hwy
- Year built
- 1984
- Lot size
- 6.22 lot acres
- Property size
- 39,550 SF
- Property type
- Outlet malls
- APN
- 27934000
- APU
- 27934000
Description
This exceptional Class A, 49,897 square foot shopping center in Nags Head, NC, presents a compelling investment opportunity. Boasting a 100% occupancy rate with a strong tenant roster anchored by Staples and T.J. Maxx, this multi-tenant property offers a stabilized income stream and significant upside potential. Built in 1984 and renovated in 2012, the single-building center sits on a 6.22-acre lot at a high-traffic intersection (S. Croatan Hwy & W. Satterfield Landing Rd), experiencing over 36,800 vehicles daily. The property features a NNN lease structure with corporate guarantees, minimizing landlord responsibilities. The asking price is $7,650,000, representing a compelling $153.32 per square foot and a 7.24% cap rate, with a current NOI of $554,194. The ample parking (5.49 spaces per 1,000 sq ft) caters to the high volume of shoppers. This irreplaceable location in the heart of Nags Head, a popular tourist destination attracting over 7 million annual visitors, ensures consistent high traffic and strong tenant performance. The property's strategic location along the main commercial corridor provides unparalleled visibility and accessibility. This is a rare opportunity to acquire a high-performing retail asset in a prime Outer Banks location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $6,925,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $7,770,000
- 6.5%
- $6,600,000
- 7%
- $7,410,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $6,660,000
- Geo Method
- $6,525,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $7,005,000
- Retail
- $5,835,000
- Mixed-Use
- $6,530,000
- Hospitality
- $7,495,000
- Educational
- $7,080,000
- Residential Income
- $6,810,000
- Energy
- $7,170,000
- Income-Based Land
- $5,660,000
- Food Service
- $5,980,000
Location Insight
- Map
- Local Demand
- City
- Nags Head
- County
- Dare
- State
- North Carolina
- Longitude
- -75.6488
- Latitude
- 35.9906
- CBSA code
- 28620
- CBSA name
- KILL DEVIL HILLS, NC MICROPOLITAN STATISTICAL AREA
