For Sale
$8,500,000

Spence AveGoldsboro, NC 27534

14-Tenant Net Lease Shopping Center

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional investment opportunity presents a 34,895 square foot, 14-tenant shopping center in Goldsboro, North Carolina. Boasting 100% occupancy and a strong NOI of $605,451, this property offers a 7.12% cap rate at an asking price of $8,500,000. Built in 1988 on a 5.5-acre lot, the single-building property benefits from a Net Lease structure with rent bumps already in place. Two key tenants, GameStop and Sun Com Mobile, have recently renewed their leases, demonstrating market confidence. The center enjoys a prime location near Seymour Johnson Air Force Base, supporting a large customer base, and is also conveniently situated near the Goldsboro YMCA, Hampton Inn, Best Western, and other significant businesses. The property's proximity to a high-volume area, combined with the strong tenant mix and favorable lease terms, makes this a compelling investment prospect for discerning buyers. The median home value within a two-mile radius is $185,000, indicating a robust local economy. This versatile space is ideal for various retail applications, offering a solid foundation for long-term growth and return on investment. The property is zoned for general business use.

Highlights

  • $8,500,000 asking price, 7.12% cap rate, and $605,451 NOI.
  • 100% occupied, 14-tenant shopping center with built-in rent bumps.
  • 34,895 square feet on a 5.5-acre lot in Goldsboro, NC.
  • Net lease (NN) investment opportunity with a strong tenant base including GameStop and Sun Com Mobile.
  • Located near Seymour Johnson Air Force Base and other major retailers and amenities.

Property Details for 0 Spence Ave

Property type
Lifestyle centers, Power centers
Square Feet
34,895 SF
Year Built
1988
Buildings
1
Lot Size (sq. ft)
239,580 SF

Location Insight

City
Goldsboro
County
Wayne
State
North Carolina
Latitude
35.383575
Longitude
-77.9482977
Spence Ave, Goldsboro, North Carolina

FAQs

What type of property is this?
Lifestyle center - 14-Tenant Net Lease Shopping Center
Where is the lifestyle center located?
The property is located at Spence Ave Goldsboro, NC.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: $8,500,000 asking price, 7.12% cap rate, and $605,451 NOI.; 100% occupied, 14-tenant shopping center with built-in rent bumps.; 34,895 square feet on a 5.5-acre lot in Goldsboro, NC.
How can I contact the broker?
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0 Spence Ave
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