703 Chief Martin St, Madison, NC 27025

Sales Price - $3,000,000.00

Rockingham Square Shopping Center is on 8.85 acres with a total building SF of 76,256. The property is 59% occupied presenting a unique opportunity to add value or to reposition the asset into an alternative use. There are several non-traditional retailers that could have interest in operating in the area and/or activating the property for a different use.

Recent improvements include roofs, HVAC units and improved parking and lighting.

There are 3 vacancies totaling 18,070 SF. At conservative rental rates, backfilling the vacant suites would significantly grow cash flow.

The shopping center has easy access to Highway Street (12K VPD) and is a 45 minute drive to Winston-Salem and a 40 minute drive to Greensboro. Highway Street is the area’s primary retail corridor. CVS, McDonalds, KFC, Tractor Supply, Roses, Dollar Tree and Aarons are nearby. The 2021 population within a 15 minute drive was 15,313 with an annual household income of $54,886.

Rockingham Square is located near several of Madison’s economic drivers. Unifi (700+ employees), Frontier Spinning Mills (400+ employees), Sturm, Ruger & Co. (450+ employees) and downtown Madison are all located within 3 miles. Purina, Ontex Group and Farmina Pet Foods have announced plans to build new facilities in Rockingham County, with over 600 new jobs estimated.

Rockingham Square is a great opportunity to purchase a dynamic and leasable shopping center at a basis that is well below replacement cost.