RealtyLink Development

Hobby Lobby/Marshalls Retail Center

1418 - 1422 E Dixie Drive
Asheboro, NC 27203

Property: Investment Sales

Square Footage: +/- 93,469

Acreage: +/- 8.90

Price: 7,050,000

Cap Rate: 7.50%

Anchor Tenants: Hobby Lobby, Marshalls

Description:

  • Anchored by two national credit tenants on long term leases
  • Hobby Lobby has +/- 750 stores and Marshalls has +/- 1,035
  • Hobby Lobby has been a tenant since 2003 and pays well below market rent
  • Offered well below replacement cost at $75 PSF
  • Located 25 miles south of Greensboro in the heart of the Asheboro retail market
  • Directly across from Randolph Mall, a 380,000 SF regional mall anchored by Belk, JC Penny, Sears, Dunham’s Sports and Cinemark Cinemas
  • Strong traffic counts over 30,000 cars/day in front of property on US 64/E Dixie Drive
  • Trade area population of nearly 285,000