8700 Emerald Dr, Emerald Isle, NC, 28594, US

Emerald Plantation Shopping Center

Asset description

Emerald Plantation l Food Lion Anchored Shopping Center With 5%+ CAGR Potential l Coastal North Carolina

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Building area gross

9,616 sm

Occupancy

99%

NOI

¥153,125,000

Year built

1986

Parking spaces

409

Zoning

Business (B)

Considerable upside via mark-to-market rental opportunities
Affluent population with over $120k AHHI
Benefits from 20% household growth within 1-mile over the past 3 years
Anchored by a strong performing Food Lion (S&P BBB | Moody’s Baa1) with yearly sales of $19.7MM ($630 PSF) a 6% increase from 2022
Coastal location provides high barriers to entry
Diverse tenant mix with incredible 24+ years of average tenure
Favorable zoning (Business District) allowing a wide variety of retail, professional, and residential uses