Income Producing Commercial Property for Sale, Newport Nc

Description

Commercial retail property for sale in Newport, NC. High traffic count location. This property is located just off of US Hwy 70 E on Nine Foot Road, and is easily visible from the main highway, this location on US 70E has a high  traffic count of 28,500  vehicles per day. It has 126 feet of frontage on Nine foot road that has a traffic count of 5,700 vehicles per day. The two parcels that make up the property total .98 acres and situated on it is a 2,834 square foot retail space that was built in 2011. The property has been occupied since 2014 by CVS Pharmacy, and the current lease is good until July of 2024. There are two 5 year extension options, with cost escelators, available that would extend the current lease until 2029, and 2034 respectively. Having a major tenant like CVS and the possibility to extend tenancy for another 13 years make this property a great investment opportunity.

Officially chartered in 1866, the Town of Newport is ideally situated along the busy corridor between Havelock, and Morehead City, it’s just minutes from Crystal Coast beaches, local military bases, or Historic downtown New Bern; making this retail property convienent to thousands of potential customers each day.