For Sale
$17,945,000

3725 Ramsey StFayetteville, NC 28311

High-traffic retail center, strong tenants, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents Northgate Shopping Center, a 241,668 square foot multi-tenant retail center located at 3725 Ramsey St, Fayetteville, NC 28311. Boasting a 7.75% cap rate and a strong NOI of $1,390,703, this property offers significant value. The center is currently 85.67% occupied by a diverse mix of national and regional tenants including Wells Fargo Bank, Subway, Ollie's Bargain Outlet, Ross, Rent-A-Center, UPS, and Papa John's. Built in 1989 and renovated in 2012, the property sits on a 29.41-acre lot and benefits from its prime location on high-traffic Ramsey Street (44,090 vehicles per day), just two miles from Interstate 295 and near Interstate 95. Its strategic adjacency to a top-performing Lowe's Home Improvement and proximity to a Walmart Supercenter further enhances its visibility and accessibility. The property's success is underscored by 2.3 million visits in the last 12 months. The surrounding area boasts a substantial population base, with 243,894 people residing within a 10-mile radius, fueled by the significant economic impact of Fort Liberty (formerly Fort Bragg), contributing $8.1 billion annually to the Fayetteville region and $66 billion to the state. The asking price is $17,945,000, translating to a price per square foot of $74.25. Desirable outparcel tenants, including Advanced Auto Parts and Hobby Town, complement the main center. Additional outparcels not included in the sale are occupied by McDonald's, Cookout, Weiner Works, and Firestone Tires. This property represents a compelling acquisition opportunity in a thriving market.

Highlights

  • Northgate Shopping Center recorded 2.3 million visits in the past year (Placer.ai).
  • High-traffic Ramsey Street (44,090 VPD) is two miles from I-295, providing access to I-95.
  • Strong tenant roster includes national and regional retailers such as Ross, Ollie's Bargain Outlet, Rent-A-Center, Wells Fargo, UPS, Subway, Papa John's, and CrossFit Intrinsic.
  • Desirable outparcels are occupied by Advanced Auto Parts and Hobby Town; additional outparcels (not included in sale) are occupied by McDonald's, Cookout, Weiner Works, and Firestone Tires.
  • Fort Liberty's economic impact on the Fayetteville region is $8.1 billion annually, with a $66 billion state-level impact, supporting a substantial population base.
  • A population of 243,894 resides within a 10-mile radius of the shopping center.

Property Details for 3725 Ramsey St

Property type
Shopping malls, Lifestyle centers
Square Feet
241,668 SF
Year Built/Renovated
1989/2012
Lot Size (sq. ft)
1,281,100 SF

Location Insight

City
Fayetteville
County
Cumberland
State
North Carolina
Latitude
35.111048
Longitude
-78.8813528
3725 Ramsey St, Fayetteville, North Carolina

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3725 Ramsey St
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