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27277834
27277835

100 Plank Bridge Rd, Camden, NC 27921

DG
NC 241055
Marcus & Millichap - Raleigh
Listed by Marcus & Millichap - Raleigh
$2,642,266
260 days on market
Updated 5 days ago

Camden Towne Center - Medical & Retail

Details
APN 02.8935.03.20.2276.0000
Property Type Retail
Sub Type Shopping Center
Square Footage 11,120
Net Rentable (SqFt) 11,024
Units 5
Cap Rate 7.15%
NOI $188,922
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Lease Options Yes
Pro-Forma Cap Rate 7.23%
Pro-Forma NOI $192,885
Class A
Year Built 2016
Year Renovated 2026
Buildings 1
Stories 1
Acreage 2.520
Zoning Commercial
Ground Lease No

Retail | 7.15% CAP | 11,120 SqFt

Marketing description

Marcus and Millichap is pleased to present 100 Plank Bridge Rd, a fully occupied medical & retail center located in Camden, NC. This 11,120 square foot retail center presents a fully leased investment opportunity, featuring five diverse tenants all of which are on NNN leases. Situated on 2.52 acres and delivered in 2016, the property has been meticulously maintained. The acreage provides for another 3,000 square foot building ready for build. Parking area already in place.

The property is well-positioned along a retail corridor, providing convenient access and a strong stream of customer traffic. Nearby public schools within a quarter mile include a primary, intermediate and high schools. Camden County administrative offices, courthouse, social services, clerk of court, senior center and the library are adjacent to the property. New $91mm high school under development on Hwy 343 1/2 mile from site.

Strategically based in Camden, North Carolina, the center benefits from strong regional demographics and growing consumer demand. The Elizabeth City, NC Micropolitan Statistical Area (MSA) is is a statistical area defined by the U.S. Census Bureau, centered around Elizabeth City in Pasquotank County, NC. It is part of the larger Virginia BeachNorfolk, VA-NC Combined Statistical Area.

Employers in the area include; Academic, C&L Concrete, and Forbs Sand Company. Camden, NC offers a favorable business climate, with ongoing investments in infrastructure, retail, and residential development. It is located along major transportation corridors, including U.S. 158 and NC 343, which the NCDOT plans to improve.

Investment highlights

  • New Lease with Hospital Taking 50% of Center as Anchor
  • Fully Leased Retail Center in Excellent Condition
  • Excellent Visibility and Convenient Access - U.S. 158 and NC 343
  • Three public schools, county courthouse, administrative services. library, senior center adjacent to property.
  • Upside with Another 3k Square Foot Building Ready to Build on Parcel.
  • NNN Leases with Annual Rent Increases

Listing Contacts

DG
NC 241055
Marcus & Millichap - Raleigh
Listed by Marcus & Millichap - Raleigh

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$188,922.00
$15,743.50/mo

Valuation Metrics

0
DSCR
7.15%
Cap Rate
7.15%
ROI

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