Grant-Murray Real Estate is pleased to present for investment sale 806 Lillington Hwy located in Spring Lake Submarket of Fayetteville.
The property consists of a 9,400 square foot flex-building located on 0.57 acres and is currently leased (NNN) by National Barks Pet Resorts (“Pet Resorts”).
Pet Resorts is soon entering its 2nd year of a three-year initial term subject to three (2-year) renewals. The monthly lease rate for the 2nd year is $5,665 (8.5% cap rate) and $5,834.95 (8.76% cap rate) for the 3rd year.
The property is located in Spring Lake, NC, less than two miles away from Fort Liberty, the world's largest military base in terms of population. Combined, there are nearly 265,000 military personnel, civilian employees, retirees, and family members supported by Fort Bragg. The base generates approximately $9 billion into the local economy annually. As such, the base provides an excellent retail base for tenants. The property is also located a quarter mile from Walmart Supercenter and less than a mile from numerous restaurants and the Skyland Shopping Center, the center of retail in Spring Lake.