Retail Space
785 Sunset Boulevard Corolla, NC 27927
Details & Description
Price: $10,900,000
    Marcus & Millichap is pleased to present for sale three multi-tenant retail buildings, as part of a condo association, within the Timbuck II Shopping Village located in Corolla, North Carolina. The three buildings are the West Building, South Building, and East Building, total 37,264 square feet. The West Building was constructed in 1994 and consists of 15,332 square feet, and includes 53 covered parking spaces underneath the building. The South Building was constructed in 1995 and is 6,192 square feet. The East Building is 15,740 square feet and was constructed in 1993 and includes 51 covered parking spaces underneath the building. The entire Timbuck II Shopping Village has a total of 728 parking spaces which are shared among the owners in the condo association. The property is 95-percent leased with local and regional tenants, and the investment benefits from a loyal tenant base with 55-percent of the GLA least for at least 10-years. The subject property is part of the premier shopping, dining, and entertainment destination on the Outer Banks of North Carolina. Timbuck II Shopping Village is located on Ocean Trail/Highway 12 with two points of ingress/egress (Albacore Street and Orions Way). Timbuck II Shopping Village is made up of over 60 shops, restaurants, and recreational activities including mini-golf, Kites, and a Go Kart track. The subject property is located directly across the street from Buck’s Island, a private community, as well as Food Lion, Dairy Queen, and Dunkin’. Additional retailers and attractions in the area include Ace Hardware, Super Wings Corolla, and Corolla Adventure Golf.
    Property Highlights
     Premier Shopping, Dining, and Entertainment Destination on Outer Banks of North Carolina
     Nearly 1.24 Million Visits and More than 766,000 Visitors in Past 12-Months
    Listing Agents
    Andrew Margulies

    O: 312-327-5481
    andrew.margulies@marcusmillichap.com
    Charles Gallagher
    Marcus & Millichap
    O: 843-952-2252
    charles.gallagher@marcusmillichap.com
    Harrison Creason
    Marcus & Millichap
    O: 843-952-2257
    harrison.creason@marcusmillichap.com
    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

    785 Sunset Boulevard

    Corolla, NC 27927

    Timbuck II Shopping Village

    Listing ID: 275930
    • 785 Sunset Boulevard Corolla, NC 27927 | for Sale | Photo 1
    • 785 Sunset Boulevard Corolla, NC 27927 | for Sale | Photo 2
    • 785 Sunset Boulevard Corolla, NC 27927 | for Sale | Photo 3
    785 Sunset Boulevard | for Sale | Thumbnail 1
    785 Sunset Boulevard | for Sale | Thumbnail 2
    785 Sunset Boulevard | for Sale | Thumbnail 3
    Building Size: 37,264 SF
    Lot Size: 1.330 AC
    Land Size: 57,934 SF
    Building $/SF: $292.51
    Land $/SF: $188.15
    Price
    $10,900,000
    Property Highlights
    Timbuck II Shopping Village Three-Buildings 37,364 Square Feet
    95-Percent Leased 23-Suites Average Suite Size 1,620 Square Feet
    Ease of Ownership via Condo Association
    Premier Shopping, Dining, and Entertainment Destination on Outer Banks of North Carolina
    Nearly 1.24 Million Visits and More than 766,000 Visitors in Past 12-Months
    Loyal Tenancy 55-Percent of GLA Has Been Leased for 10 Years
    Strong, Consistent Cashflow History
    High Barrier to Entry with Limited Retail Competition
    Description

    Marcus & Millichap is pleased to present for sale three multi-tenant retail buildings, as part of a condo association, within the Timbuck II Shopping Village located in Corolla, North Carolina. The three buildings are the West Building, South Building, and East Building, total 37,264 square feet. The West Building was constructed in 1994 and consists of 15,332 square feet, and includes 53 covered parking spaces underneath the building. The South Building was constructed in 1995 and is 6,192 square feet. The East Building is 15,740 square feet and was constructed in 1993 and includes 51 covered parking spaces underneath the building. The entire Timbuck II Shopping Village has a total of 728 parking spaces which are shared among the owners in the condo association. The property is 95-percent leased with local and regional tenants, and the investment benefits from a loyal tenant base with 55-percent of the GLA least for at least 10-years. The subject property is part of the premier shopping, dining, and entertainment destination on the Outer Banks of North Carolina. Timbuck II Shopping Village is located on Ocean Trail/Highway 12 with two points of ingress/egress (Albacore Street and Orions Way). Timbuck II Shopping Village is made up of over 60 shops, restaurants, and recreational activities including mini-golf, Kites, and a Go Kart track. The subject property is located directly across the street from Buck’s Island, a private community, as well as Food Lion, Dairy Queen, and Dunkin’. Additional retailers and attractions in the area include Ace Hardware, Super Wings Corolla, and Corolla Adventure Golf.

    Points of Interest & Demographic Radii

    Points of Interest
    Demographic Radii
    POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
     
    Virginia Beach History of Retail Space for Sale

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    Corolla Area Market Trends

    Listing Demographics for 785 Sunset Boulevard Corolla, NC 27927

    All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

    1-Mile 3-Miles 5-Miles
    Total Population1517273,115
    Population Median Age535145
    Population by Age0-9 Yrs12 (7%)60 (8%)375 (12%)
    10-19 Yrs0 (0%)15 (2%)218 (6%)
    20-29 Yrs14 (9%)66 (9%)345 (11%)
    30-39 Yrs13 (8%)63 (8%)317 (10%)
    40-49 Yrs23 (15%)90 (12%)346 (11%)
    50-59 Yrs16 (10%)113 (15%)494 (15%)
    60-69 Yrs34 (22%)159 (21%)521 (16%)
    70+ Yrs40 (26%)161 (22%)500 (16%)
    Median HH Income$60,188$64,983$64,654
    Total Household Income< 24K7 (9%)46 (13%)220 (15%)
    25-49K26 (35%)101 (28%)286 (20%)
    50-74K9 (12%)55 (15%)288 (20%)
    75-99K7 (9%)46 (13%)283 (20%)
    100-199K14 (19%)68 (19%)231 (16%)
    200K+9 (12%)35 (9%)76 (5%)
    Highest Education LevelNo Diploma212157
    Diploma or GED27128630
    Some College25130646
    Assoc. Degree1144144
    Bachelors Degree46222634
    Higher Degree2392198
    Total Housing Units8563,2275,843
    --Owner-Occupied572701,002
    --Renter-Occupied1681382
    Owner-Occupied Values< 100K05131
    100-199K219194
    200-299K328216
    300-399K1655148
    400-499K1575138
    500K+2188174
    Total Working Age Population1396572,596
    In Work Force763801,592
    Not In Work Force642781,004
    Workforce Employed673541,502
    Workforce Unemployed82576
    Civlian Workforce763791,577
    Military Workforce0115
    Total Households733511,384
    Family Households48237909
    Non-Family Households26114475
    Married Couple38191704
    Other Family946205
    Married w/Child421130
    Single Male w/Child11020
    Single Female w/Child0789

    Population Change Last Two Decades - Plus Projection

    2000%2010%2020%2030
    North Carolina8,049,313+189,535,483+1110,630,691+1111,836,070
    Camden County6,885+459,980+710,717+511,266
    Currituck County18,190+2923,547+1927,952+1532,219

    Total Working Age Population:

    Total Households:

    Total Working Age Population:

    Total Households:

    Total Working Age Population:

    Total Households:

    No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

    Common Questions and Answers

    What is the asking price for 785 Sunset Boulevard in Corolla?
    The asking price for 785 Sunset Boulevard is $10,900,000
    What is the building size of this Retail property in Corolla, NC?
    The size of the building/unit at 785 Sunset Boulevard in Corolla is 37,264 square feet
    How much land does the Corolla, NC property at 785 Sunset Boulevard include?
    785 Sunset Boulevard in Corolla includes 1.330 acres of land
    What kind of Retail is the propery at 785 Sunset Boulevard?
    The property at 785 Sunset Boulevard Corolla, NC 27927 is listed as a Shopping Center Retail property
    What is the population within 1 mile of 785 Sunset Boulevard in Corolla?
    The population within 1 mile of 785 Sunset Boulevard Corolla, NC 27927 is 151 people.
    Who do I contact for questions about 785 Sunset Boulevard?
    You should contact the listing agent, Andrew Margulies, for any details regarding this commercial listing.

    Closest Commercial Airports

    Airport Distance (mi)
    Norfolk International Airport (ORF) 45
    Newport News Williamsburg International Airport (PHF) 67
    Richmond International Airport (RIC) 116