Shops at Roxboro Square | 301 S Madison Blvd
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Shops at Roxboro Square 301 S Madison Blvd
29,900 SF 89% Leased Retail Building Roxboro, NC 27573 $4,365,000 ($146/SF) 7.75% Cap Rate
Investment Highlights
- Immediate value-add opportunity with two small shop vacancies
- Shadow-anchored by a government credit tenant (Person County has a A1 bond rating from Moody's)
- 10 minutes from 1,350-acre Mega Park recently purchased by Microsoft
- Part of the Raleigh Statistical Area which is the 2nd largest in North Carolina
- Strong tenant performance with restaurant sales of $600+ PSF
- Strategically positioned along Roxboro's main retail corridor S Madison Blvd (22.5K VPD)
Executive Summary
CBRE National Retail Partners - Carolinas is pleased to offer for sale Shops at Roxboro Square, a +/-29,900 SF unanchored retail asset in Roxboro (Durham-Chapel Hill MSA), NC. Shops at Roxboro Square is strategically located along S Madison Blvd, Roxboro’s primary retail corridor observing 22,500 vehicles per day. The offering includes upside in the ability to lease the remaining two small shop vacancies comprising 1,200 SF and 2,100 SF, respectively, providing the ability to increase NOI by 16%. Additionally, 69% of the GLA has no option control and the existing rent roll has a weighted average rent of $13.08 PSF offering significant upside.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
29,900 SF
Year Built
1988
Price
$4,365,000
Price Per SF
$146
Cap Rate
7.75%
NOI
$338,207
Percent Leased
89%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
3.90 AC
Parking
197 Spaces (6.59 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 28-18 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,051,693 |
PROPERTY TAXES
Parcel Number
28-18
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,051,693
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Shops at Roxboro Square | 301 S Madison Blvd
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