2210 S Croatan Hwy
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2210 S Croatan Hwy
49,897 SF 100% Leased Retail Building Nags Head, NC 27959 £5,992,245 (£120/SF) 7.24% Net Initial Yield
Investment Highlights
- Strong National Tenants
- Signalized Intersection seeing 36,800 VPD
Executive Summary
Cushman & Wakefield | Thalhimer is pleased to exclusively offer for sale Satterfield Landing Shopping Center (the “Property”), a 100% leased, 49,897 square foot retail center in Nags Head, North Carolina, a popular tourist destination which attracts more than 7 million annual visitors. The Property, located within the Hampton Roads MSA, benefits from a national tenant roster including Staples and T.J. Maxx, which comprise over 84% of the total income.
The Property is located along the main commercial corridor of the Outer Banks at the signalized intersection of S. Croatan Highway and W. Satterfield Landing Road. This location has direct exposure to over 36,800 vehicles per day and easy access to all of the retail and tourist amenities of Nags Head. With strong national tenants with verified strong sales in an irreplaceable location with minimal landlord responsibilities, Satterfield Landing Shopping Center positions itself as a great investment for the right purchaser.
The Property is located along the main commercial corridor of the Outer Banks at the signalized intersection of S. Croatan Highway and W. Satterfield Landing Road. This location has direct exposure to over 36,800 vehicles per day and easy access to all of the retail and tourist amenities of Nags Head. With strong national tenants with verified strong sales in an irreplaceable location with minimal landlord responsibilities, Satterfield Landing Shopping Center positions itself as a great investment for the right purchaser.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
49,897 SF
Building Class
B
Year Built/Renovated
1984/2006
Price
£5,992,245
Price Per SF
£120
Net Initial Yield
7.24%
NOI
£433,839
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.18
Lot Size
6.22 AC
Zoning
Commercial
Parking
230 Spaces (5.49 Spaces per 1,000 SF Leased)
Frontage
205 ft on S Croatan Hwy
Amenities
- Dedicated Turn Lane
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 027934000 | Improvements Assessment | £2,480,398 |
| Land Assessment | £1,947,754 | Total Assessment | £4,428,151 |
PROPERTY TAXES
Parcel Number
027934000
Land Assessment
£1,947,754
Improvements Assessment
£2,480,398
Total Assessment
£4,428,151
Contacts
-
Clark Simpson -
Erik Conradi -
Christopher Rouzie -
Cushman & Wakefield | Thalhimer
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2210 S Croatan Hwy
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