Listed by Cape Fear Commercial
$3,300,000
Devonwood Shopping Center
Details
APN 9498-74-2815 & 9498-74-2611
Property Type Retail
Sub Type Shopping Center, Commercial
Square Footage 54,250
Cap Rate 3.97%
Occupancy 50%
Price per SqFt $61
Year Built 1978
Acreage 4.410
Zoning CC (Community Commercial)
Investment Type Value Add
Retail | 3.97% CAP | 54,250 SqFt
Marketing description
Cape Fear Commercial is pleased to present Devonwood Shopping Center, a unique value add opportunity on a hard, lighted corner, in Fayetteville, NC
A recent failed redevelopment effort prevented new leasing causing the property to become 50% vacant w/ another 34% on MTM leases.
Located in Fayetteville NC at the lighted intersection of S Reilly Rd (24.k VPD) and
Morganton Rd (19k VPD).
Investment highlights
- Below market rents
- Prime location at a lighted Intersection
- Mix of national and local tenants
- Less than 2 miles from Fort Bragg Entrance (largest base in US)
Listing Contacts
Listed by Cape Fear Commercial
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