Marion City Square

Marion City Square

500 North Main Street
Marion, North Carolina

Price: $5,430,000
Cap: 9.60%
NOI: $521,440
Building Size: 155,156
Lot Size: 17.85

Investment Highlights

PROPERTY OVERVIEW

• Grocery Anchored Shopping Center | 155,156 Square Feet | Currently 93-Percent Leased

• National and Local Tenants | BI-LO, Roses, Dollar General, Papa John’s, Workout Anytime, and More

• 1987 Construction | 17.85 Acres

• Mountain Topo: High Barrier to Entry for New Development

• Multiple Points of Ingress/Egress on Main Street with 17,000 Vehicles Per Day

• Nearby Retailers Include Tractor Supply Co, CVS, AutoZone Auto Parts, Fred’s, Big Lots, Lowe’s, Marion Elementary School

• 0.5 Miles from Downtown Marion | County Seat of McDowell County

• 30-Miles to Asheville, NC| 95-Miles to Charlotte, NC | 140-Miles to Knoxville, TN

Marcus and Millichap is pleased to present for sale a 155,156 square foot grocery anchored shopping center located in Marion, North Carolina. The subject property, Marion City Square, was constructed in 1987 and sits on 17.85 acres. The property is currently 93-percent leased with a mix of national and local tenants including BI-LO, Dollar General, Papa John’s, Workout Anytime, Cricket Wireless and more. The property also consists of a 54,000 square foot outparcel occupied by Roses.

Marion City Square is conveniently located 0.5 miles from Downtown Marion on North Main Street (17,000 VPD). The property has four (4) points of ingress/egress, one on Robinson Road near Roses, one on Montevista Avenue near BI-LO, and two at the front of the property off North Main Street. Retailers in the immediate area include CVS, Spectrum, Tractor Supply Co, and O’Reilly Auto Parts. Additional points of interest surrounding the property include Marion Elementary School, Fred’s, Go Grocery Outlet, Food Lion, Lowes, West McDowell Middle School, and McDowell High School.

Marion, North Carolina is located 30 miles east of Asheville, the largest city in Western North Carolina. The city sits at the foot of the Blue Ridge Mountains near popular attractions like Mt Mitchell (30 miles) and Linville Falls (25 miles). The Downtown Marion area has been experiencing growth and development within the last few years with new restaurants, retailers, and entrainment facilities including craft breweries and music venues. Major highways serving Marion include Interstate 40, US Highway 70, US Highway 221, NC Highway 226, and the Blue Ridge Parkway offering convenient access between the mountains and piedmont regions of North Carolina.

Zach Taylor
OFFERING MEMORANDUM

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