1873 Ehringhaus StElizabeth City, NC 27909

This exceptional 227,399 square foot shopping center in Elizabeth City, North Carolina presents a compelling investment opportunity. Boasting a 99% occupancy rate and a strong 9.00% capitalization rate, the property generates a substantial net operating income (NOI) of $1,725,174. Anchored by nationally recognized tenants including Dollar Tree, Planet Fitness, Harbor Freight, Ollie's Bargain Outlet, and the US Coast Guard, the center benefits from a diverse and stable tenant mix. The property comprises two single-story buildings on a sizable 34.96-acre lot, offering ample parking with 1,097 spaces. Built in 1990, the center has undergone significant capital improvements exceeding $1.4 million, encompassing roof replacements, HVAC upgrades, asphalt repairs, and signage enhancements. The property features 18 units and 15 tenants, with 74% of the gross leasable area occupied by tenants for over a decade. Its strategic location, situated between two signalized intersections and near major retailers like Lowe's and Chick-fil-A, ensures high visibility and accessibility. The General Business (GB) zoning allows for a wide range of future uses, adding to its long-term value. The asking price is $19,168,000, representing a price per square foot of $84.29. This is a rare opportunity to acquire a well-established, high-performing retail center in a thriving market.