This Property is no longer advertised on Showcase.com.
Off Market
1/1

904-920 N Spence Ave
Goldsboro, NC 27534


HIGHLIGHTS

  • Walmart Supercenter with 30 year operating history, below market rent ($2.52/sf), strong sales, priced at just $82/sf
  • 100% leased to a strong, synergistic mix of national (Dollar Tree, Sally's Beautry, GameStop, Cricket, Great Clips) and regional tenants
  • Excellent highway visibility from I-70 with 70,000 VPD
  • Rare fee simple ownership for high demand Walmart Supercenter (S&P AA rating)
  • Surrounded by national tenants including: Sam's Club, Target, Lowe's Home Improvement, Harris Teeter, Sheetz to name a few
  • Goldsboro is home to Seymour Johnson Air Force Based and is located just 50 miles southeast of Raleigh, NC

OVERVIEW

Illuminate Real Estate is please to exclusively offer for sale, ownership's fee simple interest in Pinewood Square located at 1002 N. Spence Ave., Goldsboro, NC 27534. Offered at just $82/sf, the subject property consists of a Walmart Supercenter and in-line shops totaling 15 total units, 152,239 sf of improvements and is situated on a combined 13.82 acres of land. The center is conveniently located directly off US Highway 70 with excellent visibility to the over 70,000 vehicles per day that travel past the site. Pinewood is consistently 100% leased and maintains a healthy, synergistic mix of tenants including: Walmart, Dollar Tree, Sally Beauty, GameStop, Great Clips, Cricket and several other local/regional tenants. Walmart boasts an operating history of more than 30 years at this location that has included an expansion/remodel (2000) and benefits from an extremely low rent when compared to the company’s store network. Further, Walmart’s maintains excellent retail sales at this location translating to a healthy, low occupancy cost. The subject property is surrounded by a variety of national retail tenants including: Sam’s Club, Target, Harris Teeter, PetSmart, Holiday Inn (new construction 2019) Lowe’s Home Improvement and countless others. Just 2 miles south of the property sits Seymour Johnson Air Force Base, which occupies 3,300 acres and is home to the 4th Fighter Wing and several other operations units. Goldsboro is the county seat of Wayne County, NC and is a rapidly growing submarket of Raleigh, NC located just 50 miles from Raleigh’s central business district. Area demographics indicate population counts of over 32,065 within a 3-mile radius with average HH incomes in excess of $54,880 within same.

FOR SALE DETAILS

PRICE

-

CAP RATE

-

% LEASED

-

TENANCY

-

BUILDING DETAILS

PROPERTY NAME

Pinewood Square - Walmart Supercenter

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

152239

STORIES

1

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

3519470093