206 Commerce Avenue, Southern Pines, NC 28387
$2,500,000
Property Type:
Comm Sale or Lease
Square Footage:
7,500
Lot Size (sq. ft.):
22,651
Status:
Active
Current Price:
$2,500,000
List Date:
6/10/2024
Last Modified:
5/14/2025
Description
Value Add opportunity at Yadkin Park, a fully leased, L-shaped, single-story shopping center strategically positioned at the intersection of Commerce Avenue and Turner Street, just seconds from the bustling Highway 15/501 and 211. This prime location ensures visibility and is bolstered by proximity to well-established businesses such as Walmart, Staples, Goodwill, and Lowe's. The center features a diverse tenant mix, including Qwik Pack & Ship, Bella Vie Hair Studio, Anthony's Barber Shop, Westhetics LLC, and Southern Pawz Spa and Boutique, creating a vibrant shopping environment. NOI $51,997 & Cap Rate 2.08% based on 2024 figures.
More Information MLS# 100449551
Contract Info
Status: Active
Delayed Marketing?: No
Marketing Start Date: 2024-06-10
Sub-Type: Improved
Garage: N/A
Sale/Lease: Sale
Listing Price: 2500000
Current Price: $2,500,000
List Price/SqFt: 333.33
Stipulation of Sale: Standard
Location Information
Street #: 206
Street Name: Commerce
Street Suffix: Avenue
County: Moore
State/Province: NC
Zip Code: 28387
City Limits: Yes
Marketing City: Southern Pines
Subdivision: Yadkin Park
Geo Lat: 35.161237
Geo Lon: -79.422661
Remarks and Showing
Directions to Property: Take US-1 from Southern Pines towards Aberdeen. Turn right onto Pinehurst Ave. Continue straight onto Commerce Ave. Property on the right at the corner of Commerce Ave and Turner St.
Sign on Property: No
Building Info
New Construction: No
BuildingExt Features
SqFt - Heated (Primary): 7500
Legal and Taxes
Tax Assessed Value: 978320
Deed Book: 4669
Deed Page: 522
Legal: YADKIN PARK LOT 29, Parcel ID 00048101, PIN 857114336878
Broker Owner: No
PID: 00048101
Tax Identifier: 00048101
Plat Book: 2
Plat Page: 239
Special Assessments: none
Tax Year: 2023
Year Built: 1986
Zoning: GB
Cobra Zone: No
Property Features
Business Type: Retail; Shopping Center; Commercial
Parking Features: Off Street; On Site; Paved; Private
Lot Description: Corner Lot
Current Use: Commercial; Retail
Location: Corner; Freestanding; Shopping Center
Heating System Fuel Source: Electric
Listing Office: Carolina Summit Group, LLC
Last Updated: May - 14 - 2025
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