206 Commerce AveSouthern Pines, NC 28387

Property Details for 206 Commerce Ave

Year built

1986

Lot size

0.52 AC

Property size (Sq ft)

7,500 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional value-add opportunity presents a fully leased, 7,500 square foot, single-story shopping center in Southern Pines, North Carolina. Located at 206-216 Commerce Avenue, this L-shaped property enjoys a high-traffic location at the intersection of Commerce Avenue and Turner Street, just moments from Highways 15/501 and 211. The property's strategic positioning ensures excellent visibility and benefits from its proximity to major retailers including Walmart, Staples, Goodwill, and Lowe's. Currently boasting 100% occupancy with six diverse tenants, including Qwik Pack & Ship, Bella Vie Hair Studio, Anthony's Barber Shop, and Imagine Moore Events, this center offers a vibrant and established retail environment. Built in 1986, the property sits on a 0.52-acre lot and is zoned GB - General Business. The asking price is $2,500,000, representing a price per square foot of $333.33, with a current Net Operating Income (NOI) of $51,997 and a 2.08% capitalization rate. This property presents a compelling investment opportunity for those seeking a stable, high-occupancy retail asset with significant upside potential in a thriving market. The property's APN is 00048101 and is owned by Yadkin Park, LLC.

Location Insight

City

Southern Pines

County

Moore

State

North Carolina

Latitude

35.1614

Longitude

-79.4226

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