1828 N. Croatan Hwy
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
1828 N. Croatan Hwy
4,000 SF Retail Building Kill Devil Hills, NC 27948 $3,275,000 ($819/SF) 6.15% Cap Rate
Investment Highlights
- New 10-Year Lease with Corporate Guaranty by Sherwin-Williams (NASDAQ: SHW)
- Sherwin-Williams 2023 Revenue was Over $23 Billion & 2023 EBITDA Increased by 17.5% to $4.24 Billion
- Situated in the Heart of North Carolina’s Outer Banks, a Popular Tourist Destination
- 8% Rental Increases Occurring in Each of 8, 5 Year Renewal Options
- Brand New High-Quality 2024 Construction
- Located Across from Target and Adjacent to Dare Centre - Tenants Include Belk, Food Lion, and Rack Room Shoes
Executive Summary
This property boasts a new 10-year lease with a corporate guaranty by Sherwin-Williams (NASDAQ: SHW), featuring 8% rental increases in each of the eight 5-year renewal options. In 2023, Sherwin-Williams generated over $23 billion in revenue, with EBITDA increasing by 17.5% to $4.24 billion. The brand new, high-quality construction, completed in 2024, is situated in the heart of North Carolina's Outer Banks, a popular tourist destination. The location offers excellent visibility along Croatan Highway with over 32,000 cars per day and is strategically positioned across from Target and adjacent to Dare Centre, which houses tenants such as Belk, Food Lion, and Rack Room Shoes. The growing trade area includes 30,324 residents within a 10-mile radius, with an average household income exceeding $96,000.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,000 SF
Building Class
B
Year Built
2024
Price
$3,275,000
Price Per SF
$819
Cap Rate
6.15%
NOI
$201,425
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.72 AC
Zoning
C - Commercial
Amenities
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 029831200 | Improvements Assessment | $296,500 |
| Land Assessment | $420,800 | Total Assessment | $717,300 |
PROPERTY TAXES
Parcel Number
029831200
Land Assessment
$420,800
Improvements Assessment
$296,500
Total Assessment
$717,300
1 of 6
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
1828 N. Croatan Hwy
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.