Sutter's Creek
Retail | 80,004 SqFt
Marketing description
Located in Rocky Mount's primary retail corridor, Sutter's Creek is surrounded by national anchors including Rural King (adjacent), Target, Walmart, TJ Maxx, Lowe's, Sam's Club, ALDI, JC Penney, Belk, Ross, and Burlington. The property generates approximately 541K annual visits with a 31-minute average dwell time, underscoring strong foot traffic, sustained consumer engagement, and its position as a key retail destination.
Sutter's Creek is offered below replacement cost, allowing investors to acquire a stabilized retail asset at a discount to new development. Rising construction costs and limited new supply further support long-term value and downside protection.
Hobby Lobby serves as a dominant regional anchor, with approximately 45% of customers traveling over 10 miles. This extended reach reflects strong brand loyalty and destination appeal. An average dwell time of 30 minutes further highlights meaningful engagement, driving consistent traffic and supporting spillover to surrounding tenants.
Investment highlights
- Prime Retail Corridor: Located in Rocky Mount's primary retail corridor, Sutter's Creek is surrounded by national anchors including Rural King (adjacent), Target, Walmart, TJ Maxx, Lowe's, Sam's Club, ALDI, JC Penney, Belk, Ross, and Burlington. The property generates approximately 541K annual visits with a 31-minute average dwell time, underscoring strong foot traffic, sustained consumer engagement, and its position as a key retail destination.
- Below Replacement Cost: Sutter's Creek is offered below replacement cost, allowing investors to acquire a stabilized retail asset at a discount to new development. Rising construction costs and limited new supply further support long-term value and downside protection.
- Outparcel Development Opportunity: The property offers the potential for an outparcel development opportunity, providing a pathway to diversify and grow income and attract QSR and service-oriented tenants. This can drive additional traffic, improve the tenant mix, and generate incremental income, supporting NOI growth and long-term value.
- Below Market Rents: Citi Trends is currently paying below-market rent, providing an opportunity to capture rental rate upside upon rollover. Re-leasing the space to a national credit tenant at market NNN rents offers a clear path to NOI growth and value, with the potential to achieve a double-digit IRR.
- Regional Draw: Hobby Lobby serves as a dominant regional anchor, with approximately 45% of customers traveling over 10 miles. This extended reach reflects strong brand loyalty and destination appeal. An average dwell time of 30 minutes further highlights meaningful engagement, driving consistent traffic and supporting spillover to surrounding tenants.
- Logistics Growth Catalyst: CSX's recent investment in the nearby Carolina Connector (CCX) is a $160 million intermodal terminal investment designed to enhance regional freight and distribution connectivity. The 330-acre facility features three wide-span cranes with capacity for 110,000 container lifts annually and provides access to more than 5 million consumers within a 120-mile radius. The project is expected to indirectly create over 1,300 jobs, further supporting long-term economic growth and industrial demand in the region.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
