Listed by Lloyd Companies
$3,960,000
The Shoppes at 57th Investment
Details
Property Type Retail
Sub Type Shopping Center, Storefront
Square Footage 15,924
Units 7
Occupancy 95%
Tenancy Multi
Lease Type NNN
Pro-Forma Cap Rate 7.35%
Pro-Forma NOI $290,887
Price per SqFt $249
Year Built 2004
Buildings 2
Acreage 1.450
Zoning C-3
Investment Type Owner/User
Ground Lease No
Retail Investment | 7.35% CAP | 15,924 SF
Marketing description
This offering includes three retail condos currently occupied by a diverse mix of tenants: Wingstop, Healing Touch Massage, Power Plate Meals, Advanced Dental, and The Honey Baked Ham Co. Existing tenants maintain strong leases with long-term plans in place, creating stability for future ownership. Two vacant suites in shell condition provide potential to draw a range of tenants, or an owner-occupant opportunity.
Investment highlights
The overall site is part of the Shoppes at 57th Street Condominium Project. The project is managed by an association owned by four unit owners. This offering includes the purchase of three of the four units (Units B, C, and D), all of which are owned by the Seller. Unit A is owned by First Interstate Bank.
- Tenants: Wingstop, Healing Touch Massage, Power Plate Meals, Advanced Dental, The Honey Baked Ham Co., and Sixth Dimension Tattoo (coming soon)
- One vacant suite in shell condition provide potential to draw a range of tenants, or an owner-occupant opportunity
- 101 shared surface stalls, based on overall condo project site
- Overall condo project site size: 1.93 Acres +/-
- Surrounded by a healthy mix of retail, office, and residential developments
- Daytime population of 20,532 and over 1,040 businesses with a 1-mile radius, making this a strategic and well-positioned asset
- Neighboring tenants include Taco John's, Panera Bread, Juice Stop, barre3, Pomegranate Market, Tokyo, The Tavern Grill, and much more
- Contact Broker for a copy of the NDA
Listing Contacts
Listed by Lloyd Companies
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