Listed by CBRE Charlotte
$7,800,000
Sylva Shops
Details
APN 7641-63-8324, 7641-73-4354
Property Type Retail
Sub Type Shopping Center
Square Footage 23,000
Net Rentable (SqFt) 23,000
Cap Rate 7.25%
NOI $564,863
Occupancy 100%
Tenancy Multi
Brand/Tenant Goodwill
Lease Type NNN
Rent Bumps Yes
Year Built 1995
Acreage 4.860
Zoning B-3 Business District - Town of Sylva Official Zoning Map
Parking Spaces 181 spaces
Parking Per SqFt 7.87
Investment Type Core+
Ground Lease No
Unanchored Retail | 7.25% CAP | 23,000 SF
Marketing description
CBRE's National Retail Partners is pleased to present Sylva Shops, a 23,000 SF fully occupied unanchored center located at 86-182 Walmart Plaza in Sylva, North Carolina - the commercial and civic hub of Jackson County and the surrounding Western Carolina mountain region. The center is shadow-anchored by a high-volume Walmart Supercenter (2.3M annual visits), and benefits from immediate access to the area's dominant retail corridor along NC Highway 107. Sylva Shops offers investors a stable, 100% occupied in-place cash flow with a compelling mark-to-market rent growth story, underpinned by a diverse, necessity-based tenant roster serving the daily needs of Jackson County's growing residential and visitor population.
Investment highlights
- Shadow-Anchored by a High-Volume Walmart Supercenter - The Dominant Retail Driver on the NC-107 Corridor
- Sylva Shops is the #1 Most Trafficked Neighborhood Shopping Center within a 50-mile radius out of 32 total centers
- Walmart serves as the primary traffic generator for the NC-107 retail corridor, drawing consumers from across Jackson County and neighboring Swain, Macon, Haywood, and Cherokee counties
- Sylva Shops benefits directly from Walmart's traffic generation creating an operationally integrated retail environment
- Significant Mark-to-Market Rent Growth Opportunity Layered on Top of 100% Occupied In-Place Cash Flow
- 83% of the GLA expiring within a 7-year hold at below-market rents, a new owner has multiple near-term opportunities to capture mark-to-market upside
- Necessity-Based, Recession-Resilient Tenant Mix in a University & Tourism-Driven Mountain Market
- Anchored by a U.S. Government tenant (Armed Forces Recruiting Center), regional healthcare (Harris Regional Urgent Care), a nationally recognized charitable retailer (Goodwill), and a mix of food, health/beauty, and specialty retail
- The center serves the everyday needs of both permanent residents and the rotating university and visitor populations
- Ownership is in the process of replacing both roofs (TPO) and new gutters/downspouts
Listing Contacts
Listed by CBRE Charlotte
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$564,863.00
$47,071.92/mo
Valuation Metrics
0
DSCR
7.24%
Cap Rate
7.24%
ROI
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