Shops at Mount Olive

Property Type: | Property Status: Sold

Shops at Mount Olive

Property Details

Price: $2,395,000

CAP Rate:

Square Feet: 9267

Tenancy Type: Mixed

Lease Type: NNN

Location Info

Address: 302 West NC Highway 55

City: Mount Olive

State: NC

Zip: 28365

Property Description

Short Description:
The Cooper Commercial Investment Group is pleased to announce the sale of The Shops of Mount Olive, a 9,267 retail shopping center built in 2008, shadow anchored by Walmart Supercenter. The property is anchored by El Mazatlan Mexican Restaurant, who has been at the center since it was built, and includes other tenants such as, Fantastic Sams, Cricket Wireless, Papa John’s and Diener Law Offices.

Bob Havasi and Dan Cooper of the Cooper Commercial Investment Group in Cleveland, Ohio, had the privilege to represent the Seller in this transaction, an East Coast private investor, whom Bob and Dan have worked with on multiple transactions in the past. The private California buyer was found on the first day of marketing the property for sale and purchased this asset for over the ask price, which was $2,395,000, representing a 7.32% Cap Rate. Through marketing efforts, The Cooper Group generated multiple other offers either over or at the list price.