Firm Overview Listings Shopping Centers Single-Tenant 1301 Exchanges
Rob Carter
704.379.1982 Office
704.379.1988 Fax
carter@berkeleycap.com
Alex Quarrier
704.714.2365 Office
704.379.1988 Fax
quarrier@berkeleycap.com
David Webb
7043791967 Office
7043791988 Fax
webb@berkeleycap.com
   
Northpark Centre

OFFERING SUMMARY

Berkeley Capital Advisors is very pleased to present this offering summary on Northpark Centre, a neighborhood-oriented center located in North Wilkesboro, North Carolina. We welcome your review of this attractive investment opportunity.

SUBMARKET OVERVIEW

The property has attractive assumable debt that has a 15-year self liquidating term and a 6.18% interest rate. The loan term is already 5 years into the 15-year term, so a buyer will own the property free and clear in 10 years.

Food Lion has a long lease term that expires in May 2017.

The property is 100% occupied and has five tenants. (Northpark Studio is month-to-month.)

 

DEMOGRAPHICS
   
  3 Miles 5 Miles 8 Miles  
2014 Projection 13,162 26,383 44,147  
2009 Estimate 13,033 25,959 43,127  
Growth 2009 - 2014 0.99% 1.63% 2.43%  
Growth 2000 - 2009 0.27% 1.52% 3.03%  
OFFERING MEMORANDUM & FILES
Northpark Centre Offering Memorandum
 
Profiles
Name: Northpark Centre
Size: 38,500 SF
Occupancy: 100%
Market: North Wilkesboro, North Carolina
Address: 21 Sparta Road
Year Delivered: 1992
Land Size: 6.59 Acres
Parking Spaces: 186 Spaces
Debt: Assumable
   
Anchor Tenants Lease Expiration Square Feet
Food Lion May 2017 29,000
   
NET OPERATING INCOME $245,510
   
CAP RATE -
   
OFFERING PRICE $2,350,000
©2006 Berkeley Capital Advisors - 831 East Morehead, Suite 650 // Charlotte, South Carolina 28202 // 704-379-1980
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