100 Plank Bridge RD Active Save Request In-Person Tour Request Virtual Tour
Camden,NC 27921
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 11,000 sqft
Price per Sqft $227
MLS Listing ID 100434490
Year Built 2016
Annual Tax Amount $17,604
Lot Size 2.520 Acres
Property Description
Fully leased Shopping Strip Center in the heart of Camden with a current CAP rate of 7.36%. Built in 2016 with Central Sewer and Natural Gas in the heart of lovely Camden, NC. Five units from 1,662-3,000 sq ft for a total of 11,000 sq ft with 76 parking spaces on 2.52AC listed for $1.1M below tax value. Tenants include Chesapeake Regional Medical Center, Todds Pharmacy (which is closed and subleased to a Church but Todd's lease is still in force through the end of 2027), Jack & Jenny's Pizza Company, Hungry Panda, and Waterfall Blossom Cafe. Gross Income is currently $180,550 ($15.22-$17.31 per sq ft) and all leases are NNN with $4.50 per square foot TICAM charges and the lease rates all increase between 2%-3% annually. CAP rates will increase by about 0.2% annually assuming no vacancies and no increases in expenses. Room to build an additional +/-3,500 sq ft between the existing building and Hwy 343 with parking lot and landscaping in place for the expansion area.
Location
State NC
County Camden
Zoning Comm. Core
Interior
Heating Heat Pump,Natural Gas
Cooling Central Air
Exterior
Parking Features Parking Lot,Asphalt,Lighted,Off Street
Utilities Available City Water,Natural Gas Connected
Roof Type Membrane,Flat
Building
Lot Description Level,See Remarks
Sewer Municipal Sewer
New Construction No
Others
Acceptable Financing 1031 Exchange,Cash,Conventional
Listing Terms 1031 Exchange,Cash,Conventional
Special Listing Condition None