408 W. Railroad Street
About this property
Waterstone Multi-Housing Advisors is pleased to present The Commons at Pembroke, a 108 unit/336 bed student housing complex located within walking distance of The University of North Carolina-Pembroke. Built in two phases between 2006 and 2010, The Commons offers the student body of UNCP one of the premier off campus facilities in terms of value, amenity availability and proximity to campus.
The Commons consists of 7 buildings with 48 Two Bed/Two Bath units and 60 Four Bed/Four Bath units. The property is in excellent condition with no known capital expenditure requirements and offers an on-site leasing office, resort style swimming pool, 24-hour fitness center, state of the art clubhouse and a high tech security system.
Current occupancy for the 2021-2022 school year stands at 92%. This is an impressive increase from previous years as this walkable property is benefiting from record freshman retention and 32% increase in enrollment over the past five years. In addition, the property has benefitted from increased occupancy with the planned demolition of Wellons & Jacob Halls, ~200 room on-campus student dorms.
Pembroke is a Southern college town located in Robeson County, the largest county in North Carolina, and is approximately 7 miles from the intersection of U.S. Highway 74 and Interstate 95 at Lumberton. The Pembroke area is approximately 1.5 hours south of Raleigh, 1.5 hours north of the North and South Carolina beaches, and 2 hours east of Charlotte.