Marketplace Center

Marketplace Center

2725 Northwest Blvd
Newton, North Carolina

Price: $4,425,000
Cap: 8.98%
NOI: $397,553
Building Size: 126,435
Lot Size: 15.80

Investment Highlights

PROPERTY OVERVIEW

• 126,435 Square Foot Neighborhood Shopping Center | 64-Percent Occupied• National and Local Tenants | Big Lots, Burke’s Outlet, Papa John’s Pizza, Rent-A-Center, and More

• Significant Upside When Leasing Former BI-LO Box (33,000 Square Feet)

• 1988 Construction | 15.80 Acres | 640-Parking Spots

• Multiple Points of Ingress/Egress | Stoplight Access at 12th Street Southwest and Northwest Boulevard | 23,000 VPD

• Nearby Traffic Drivers Include Walgreens, Walmart, KFC, North Newton Elementary School, Goodwill, Dollar General, and More

• County Seat of Catawba County | 38-Miles to Charlotte Douglas International Airport (Charlotte, NC)

Marcus and Millichap is pleased to present for sale a 126,435 square foot value-add shopping center located in Newton, North Carolina. The subject property, Marketplace Center, was constructed in 1988 and sits on 15.80 acres. The property is 64-percent occupied with national and local tenants including Big Lots, Burke’s Outlet, Rent-A-Center, Papa Johns, H&R Block, and more.

Marketplace Center is conveniently located at the signalized intersection of 12th Street Southwest and Northwest Boulevard and experiences approximately 17,000 vehicles per day. There are four (4) points of ingress/egress, one on 12th Street Southwest and the remaining three located on Northwest Boulevard. Immediate points of interest surrounding the property include Sonic Drive- In, Bojangles’, Walgreens, Hardee’s, Advance Auto Parts, North Newton Elementary School, and the Conover City Park. Additional points of interest and places of employment near the subject include Walmart Neighborhood Market, Southern Furniture Company, WestRock Conover, NC Works Career Center, Lee Industries, the Hickory American Legion Fairgrounds.

The city of Newton is located in Catawba County, North Carolina, positioned in the triangle formed by Asheville to the northwest, Winston-Salem to the northeast, and Charlotte to the southeast, all within an hour-and-a-half drive. Newton is strategically located in the Hickory Metropolitan Area. The City has a diverse industrial base, with companies producing fiber optic cable, automotive parts, baked goods, medical supplies, telecommunications technology, as well as traditional industries such as furniture and textiles. Over half of the nation’s furniture is produced within a 200-mile radius of Newton. Major employers in the city include Target Distribution Center, Flowers Baking Company, Lee Industries, General Dynamics, ZF Lemforder, Sarstedt, Technibilt, Renwood Mills, Catawba County Government, Catawba County Schools, and Newton-Conover City Schools. Major transportation in the city include Interstate 40, US Highway 321, US Highway 70, NC Highway 70, North Carolina Highway 10 and 16, the Hickory Regional Airport (12 miles) and the Charlotte-Douglas International Airport (38 miles).

Zach Taylor
OFFERING MEMORANDUM

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