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8.34% Cap Strip Center -New Bern 1904-1918 Dr. Martin Luther King Jr. Blvd 11,665 SF 100% Leased Retail Building New Bern, NC 28560 $2,649,401 CAD ($227.12 CAD/SF) 8.34% Cap Rate
Investment Highlights
- Corner Lot
- Value Add
- Multi Tenant
- Heavy Road Traffic
Executive Summary
8.34% CAP Opportunity Located in NEW BERN NC with Value Add potential
LOCATION
Located in NEW BERN NC
On DR MLK JR BLVD (+/-18,000 VPD)
INFO
11,665 SF
1.08AC & 0.28AC (2 Parcels)
7 Tenant (100% Occupied)
Built 1970
PRICING
$1,945,000 List Price
$166.73 Price Per SF
8.34% Cap Rate (Based on In Place Income)
Proforma Cap Rate: 10.65% (Yr 5)
Please reach out to Patrick Anderson for more info.
Patrick Anderson
Principal
Property Resources
919 986 0363
LOCATION
Located in NEW BERN NC
On DR MLK JR BLVD (+/-18,000 VPD)
INFO
11,665 SF
1.08AC & 0.28AC (2 Parcels)
7 Tenant (100% Occupied)
Built 1970
PRICING
$1,945,000 List Price
$166.73 Price Per SF
8.34% Cap Rate (Based on In Place Income)
Proforma Cap Rate: 10.65% (Yr 5)
Please reach out to Patrick Anderson for more info.
Patrick Anderson
Principal
Property Resources
919 986 0363
Property Facts
Sale Type
Investment
Property Type
Building Size
11,665 SF
Building Class
B
Year Built
1970
Price
$2,649,401 CAD
Price Per SF
$227.12 CAD
Cap Rate
8.34%
NOI
$220,960 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
1.36 AC
Zoning
NC3 - Neighborhood Commercial
Parking
66 Spaces (5.66 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
Moderately walkable
60/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $817,246 CAD | |
| Land Assessment | $608,426 CAD | Total Assessment | $1,425,672 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$608,426 CAD
Improvements Assessment
$817,246 CAD
Total Assessment
$1,425,672 CAD
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8.34% Cap Strip Center -New Bern | 1904-1918 Dr. Martin Luther King Jr. Blvd
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