1155 Main StMarion, NC 28752

Property Details for 1155 Main St

Year built

1972

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

7.25 AC

Property size (Sq ft)

86,356 SF

Property type

Retail properties

Property subtype

Strip malls

APN

1702-17-21-0603

APU

170217210603

Description

This exceptional investment opportunity presents two available retail spaces within the established Lady Marian Shopping Center, located at 1155 N Main St, Marion, NC 28752. The center boasts a total of 78,439 square feet on a 7-acre lot, built in 1972. One space, Suite 4-B, offers 12,215 square feet and is available for lease with a minimum three-year term. The lease rate is $7.50 per square foot, NNN, plus a $1.50 CAM fee. This space is adjacent to the recently renovated Dollar Tree. Tenant improvements are negotiable. The second space, Suite 10, comprises 9,058 square feet, also requiring a minimum three-year lease. The lease rate is $8.00 per square foot, NNN, plus a $1.50 CAM fee. Formerly occupied by Sears, this unit offers ample parking and is suitable for either retail or office use

• CAP approach

  CAP return

  Valuation

  6%

  $24,496,442

  6.5%

  $22,612,100

  7%

  $20,996,950

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,916,418

  Geo Method

  $17,916,418

• Alternative Use

  Use

  Valuation

  Residential

  $19,074,152

  Hospitality

  $17,471,820

  Educational

  $14,536,350

  Medical

  $15,036,277

  Retail

  $22,612,100

Location Insight

City

Marion

County

Mcdowell

State

North Carolina

Latitude

35.6954

Longitude

-82.0248

CBSA code

32000

CBSA name

MARION, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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