4610-4628 W Market St | Greensboro, NC 27407
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4610-4628 W Market St
Greensboro, NC 27407
Price Place · Retail Property For Sale
Investment Highlights
- ATTRACTIVE PROPERTY FUNDAMENTALS
- BELOW MARKET RENTAL RATES
- STRONG LOCATION
Executive Summary
Furman Capital Advisors, acting on exclusive behalf of the “Owner,” is pleased to offer the following opportunity to purchase
Price Place Shopping Center (or the “Property”), a retail center built in 1980 and located in Greensboro, NC. The asset is currently 100% occupied with a various mix of tenants providing essential products and services to the surrounding area. The asset has a WALT of 2.56 years and provides a promising Value-Add opportunity to increase gross income by converting new leases and renewals to a NNN
structure with market rents. The W. Market St. retail corridor has seen recent renovation investment in several nearby national QSRs
and shopping centers. This asset was developed by the current owner and has been maintained/leased by the same property
manager for 44 years.
Price Place Shopping Center (or the “Property”), a retail center built in 1980 and located in Greensboro, NC. The asset is currently 100% occupied with a various mix of tenants providing essential products and services to the surrounding area. The asset has a WALT of 2.56 years and provides a promising Value-Add opportunity to increase gross income by converting new leases and renewals to a NNN
structure with market rents. The W. Market St. retail corridor has seen recent renovation investment in several nearby national QSRs
and shopping centers. This asset was developed by the current owner and has been maintained/leased by the same property
manager for 44 years.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
75,515 SF
Building Class
C
Year Built
1980
Price
£5,742,574
Price Per SF
£76
Net Initial Yield
7.19%
NOI
£412,874
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Loading Docks
1 Exterior
Building FAR
0.28
Lot Size
6.13 AC
Zoning
SC - Shopping Center
Parking
380 Spaces (5.03 Spaces per 1,000 SF Leased)
Frontage
844 ft on W Market St
Amenities
- Pylon Sign
- Restaurant
- Signage
- Signalised Intersection
PROPERTY TAXES
| Parcel Number | 0041735 | Improvements Assessment | £1,574,653 |
| Land Assessment | £2,350,416 | Total Assessment | £3,925,069 |
PROPERTY TAXES
Parcel Number
0041735
Land Assessment
£2,350,416
Improvements Assessment
£1,574,653
Total Assessment
£3,925,069
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