For Sale
$9,850,000

2800 Nc-24 Cameron, NC 28326

Cameron, NC Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional 43,000 square foot shopping center in Cameron, NC, presents a compelling investment opportunity. Built in 2016, the property boasts 100% occupancy with 13 tenants, including Dollar Tree, Navy Federal Credit Union, and a diverse mix of retail, dining, and service businesses. The center benefits from a prime location on busy NC Highway 24-87, adjacent to a high-performing Walmart Supercenter, within the Fayetteville MSA. The property features a fee simple ownership structure, a stabilized investment type with a NNN lease structure and credit-rated tenants. The strong NOI of $721,649 contributes to an attractive 7.33% cap rate at an asking price of $9,850,000 ($229.07/sq ft). Recent lease renewals, including a five-year lease with annual rent increases for Kids First Pediatrics of Raeford, demonstrate strong tenant demand. The property sits on a 4.58-acre lot and enjoys significant growth potential due to the explosive population growth in Harnett County (over 50% since 2000) and the proposed development of 18,000+ new housing units. The proximity to Fort Liberty, the world's largest military base, further enhances the property's long-term prospects. The center's strategic location and robust tenant mix create a highly desirable investment opportunity with significant upside potential. The property is offered as a 1031 exchange opportunity.

Highlights

  • 2016-built, 43,000 SF shopping center in Cameron, NC, fully leased with 13 tenants including Dollar Tree and Navy Federal Credit Union.
  • Significant rent increase potential with below-market Shoe Show lease.
  • High-growth area: Harnett County population increased by over 50% since 2000, with 18,000+ new housing units planned.
  • Proximity to Fort Liberty, the world's largest military base, driving strong local economy.
  • Strong tenant demand evidenced by recent lease renewals with rent escalations.
  • Excellent tenant mix including discount retail, service, medical, and dining.

Property Details for 2800 Nc-24

Property type
Lifestyle centers, Power centers
Square Feet
43,000 SF
Year Built
2016
Stories
1
Lot Size (sq. ft)
199,505 SF
Units
13

Location Insight

City
Cameron
County
Harnett
State
North Carolina
Latitude
35.2439236
Longitude
-79.0262444

FAQs

What type of property is this?
Lifestyle center - Cameron, NC Retail Investment Opportunity
Where is the lifestyle center located?
The property is located at 2800 Nc-24 Cameron, NC.
What is the asking price?
The asking price for this property is $9,850,000.
What are key features of this property?
This property features: 2016-built, 43,000 SF shopping center in Cameron, NC, fully leased with 13 tenants including Dollar Tree and Navy Federal Credit Union.; Significant rent increase potential with below-market Shoe Show lease.; High-growth area: Harnett County population increased by over 50% since 2000, with 18,000+ new housing units planned.
How can I contact the broker?
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2800 Nc-24
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