1503 S. Glenburnie Road
Retail | 5.01% CAP | 5,300 SqFt
Marketing description
Bryant Capital Advisors is pleased to present the exclusive listing of 1503 S. Glenburnie Road, a 5,300 SF neighborhood retail asset strategically positioned along one of New Bern's primary commercial corridors. Offered at $950,000, the property provides investors with immediate cash flow alongside meaningful value creation through lease-up and mark-to-market rental opportunities.
1503 S. Glenburnie Road benefits from strong visibility with over 28K VPD, convenient access to New Bern, and a highly functional multi-tenant layout that accommodates a diverse mix of retail, restaurant, office, and service users. Recent capital improvements, including a new roof, help reduce near-term capital requirements while supporting long-term ownership.
Located just minutes from US-70 and 17 and surrounded by established residential neighborhoods, affluent demographics seeing average household incomes of over $106K, and over 2.5M SF of retail destinations, the property is well positioned to capitalize on continued demand for neighborhood-serving commercial space.
Investment highlights
- Immediate Value-Add Opportunity - Acquire a neighborhood retail asset with in-place income and meaningful upside through lease-up of vacant space and mark-to-market rental rates. The property is underwritten to increase yield on cost from a 5.01% going-in cap rate to a 10.43% stabilized yield on cost.
- Attractive Basis with Significant Upside - Offered at approximately $179 PSF, 1503 S. Glenburnie Road can be acquired well below today's replacement cost. Investors have the opportunity to create value through strategic capital improvements, leasing activity, and operational efficiencies.
- Established Retail Corridor - Located on S. Glenburnie Road (28,262 VPD), the property benefits from exceptional visibility and convenient access within one of New Bern's primary commercial corridors. More than 43,000 residents and 19,000 households reside within a 5-mile radius, supporting long-term tenant demand.
- Reduced Capital Risk - Recent roof replacement and planned capital improvements position the property for long-term ownership with limited near-term deferred maintenance. These improvements allow investors to focus on leasing and NOI growth rather than major capital expenditures.
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