3866 Rural Retreat Rd - Retail FOR SALE


Burlington, NC 27215
$5,941,000 USD
404-806-2755
3866 Rural Retreat Rd, Burlington, NC for Sale
$5,941,000 USD
Retail - FOR SALE
1/1
null | 7% Cap Rate

3866 Rural Retreat Rd
Burlington, NC 27215


HIGHLIGHTS

  • STRATEGIC RETAIL NODE NEAR AREA EMPLOYMENT DRIVERS
  • LONG-TERM LEASES WITH HIGH-PROFILE NATIONAL & REGIONAL TENANTS
  • OUTSTANDING BURLINGTON AREA DEMOGRAPHICS

OVERVIEW

Newmark, as exclusive advisor, is pleased to present for sale Midtowne Park a 15,550 SF unanchored retail center located in the heart of high-growth and affluent Burlington, North Carolina. Built in 2019, the property is 100% leased to an impressive tenant line-up that includes restaurants, fitness and healthcare tenants alike. Cone Health Urgent Care, a leading healthcare provider in the region, recently renewed and expanded at the center with a lease extending through 2035. Other prominent tenants with long-term leases include Stretch Zone, GameDay Men’s Health, Sir Pizza, iSi Elite Training and Zia Tap Room. Strategically positioned along University Drive just north of Interstate-40, Midtowne Park is only minutes from major area employment hubs including Elon University (7,500+ students, faculty & staff) and Almance Regional Medical Center (Cone Health, 238-beds). The center benefits from large pylon signage, terrific visibility and an impressive 35,816 traffic count along University Drive. Additionally, the subject property benefits from affluent area demographics featuring $100K+ Average HH Income levels combined with significant future growth projections. Combined with its strategic location and sought-after demographics, Midtowne Park presents investors with the opportunity to acquire a newer construction, retail strip center featuring a stable and growing cash flow.

FOR SALE DETAILS

PRICE

$5,941,000 USD

PRICE/SF

$383 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Midtowne Park

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

99

LAND DETAILS

LAND ACRES

2.02 AC

LAND SF

87,991 SF

ZONING

-

APN/PARCEL ID

106858

ASK ABOUT THIS PROPERTY

Drew FlemingNewmarkMore Info
404-806-2755

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Drew FlemingNewmarkMore Info
404-806-2755

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.