Lowe's Shadow Center

Lowe's Shadow Center

1300 E Broad Ave
Rockingham, NC

Price: Starting Bid: $300,000
NOI: $99,183
Building Size: 60,707 SF
Lot Size: +/- 10 AC

Investment Highlights

• The subject property is a 60,707 SF retail center shadow anchored by a high performing Lowe’s Home Improvement in Rockingham, NC
• The center is 67% leased, offering an immediate upside opportunity for an investor
• Fully leasing the space at $6 PSF with reimbursements, grow from $99,183 to $336,250, a 239% increase
• The center is currently leased to a variety of tenants including Dollar General (18.51% of GLA), a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade of BBB with over 18,000 locations and expanding by 1,000 stores each year

• Lowe’s is a publicly traded (NYSE: LOW) Fortune 500 company with an S&P rating of BBB+
• It is the Nations second largest hardware chain, with over 2,200 stores and over $72 billion in annual revenue
• Lowe’s has operated at this location since 2000 (20-years) and recently extended the lease 10 more years, demonstrating their commitment to the location.
• Lowe’s is an essential tenant and sales are up 30% from last year
• This location sees 864,000 annual visitors and ranks in the top 35% of all locations in the country (Placer.ai)

• This Lowe’s Shadow is well located on E Broad Ave (19,500 VPD), which is the primary retail corridor in Rockingham.
• Surrounded by 2.5M SF of retail within a 1 mile radius including Walmart, Tractor Supply, Food Lion, Walgreens, and more.
• Located less than 1 mile from First Health Moore Regional Hospital, a 610 Bed hospital with 3,700 employees.
• Positioned 2 Miles from Richmond County Airport that sees an average of 28 aircraft operations per day

• Rockingham is located approximately 70 miles East of Charlotte and is the county seat of Richmond County.
• Home to Rockingham Speedway and Entertainment Complex, which has a capacity of over 34,500 and holds multiple events per year. This track has also been used to film multiple notable movies.
• Mackall Army Airfield, a primary training ground for the U.S. Army Special Forces, is located in Rockingham, NC. 270,811 military personnel are assigned to Mackall Army Airfield and Fort Bragg.
• Downtown Rockingham is currently being revitalized as part of a ten-year plan named “Shaping Our Future: 2023”.

Zach Taylor
Eric Abbott

Email not recognized.
In lieu of a confidentiality agreement, we request that you complete the following form in order to download an Offering Memorandum or try again.

Principal or Broker?