2210 Croatan HwyNags Head, NC 27959

Property Details for 2210 Croatan Hwy

Year built

1984

Lot size

6.22 AC

Property size (Sq ft)

39,550 SF

Property type

Retail properties

Property subtype

Outlet malls

APN

27934000

APU

27934000

Description

This exceptional Class A, 49,897 square foot shopping center in Nags Head, NC, presents a compelling investment opportunity. Boasting a 100% occupancy rate with a strong tenant roster anchored by Staples and T.J. Maxx, this multi-tenant property offers a stabilized income stream and significant upside potential. Built in 1984 and renovated in 2012, the single-building center sits on a 6.22-acre lot at a high-traffic intersection (S. Croatan Hwy & W. Satterfield Landing Rd), experiencing over 36,800 vehicles daily. The property features a NNN lease structure with corporate guarantees, minimizing landlord responsibilities. The asking price is $7,650,000, representing a compelling $153.32 per square foot and a 7.24% cap rate, with a current NOI of $554,194. The ample parking (5.49 spaces per 1,000 sq ft) caters to the high volume of shoppers. This irreplaceable location in the heart of Nags Head, a popular tourist destination attracting over 7 million annual visitors, ensures consistent high traffic and strong tenant performance. The property's strategic location along the main commercial corridor provides unparalleled visibility and accessibility. This is a rare opportunity to acquire a high-performing retail asset in a prime Outer Banks location.

• CAP approach

  CAP return

  Valuation

  6%

  $10,786,663

  6.5%

  $9,956,920

  7%

  $9,245,711

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,185,608

  Geo Method

  $16,645,219

• Alternative Use

  Use

  Valuation

  Residential

  $8,399,034

  Hospitality

  $7,693,470

  Educational

  $6,400,877

  Medical

  $6,621,013

  Retail

  $9,956,920

Location Insight

City

Nags Head

County

Dare

State

North Carolina

Latitude

35.9906

Longitude

-75.6488

CBSA code

28620

CBSA name

KILL DEVIL HILLS, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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