Listed by NAI Coastal - Salisbury
$1,800,000
Virginia Square
Details
Property Type Retail, Industrial
Sub Type Shopping Center, Warehouse
Square Footage 25,500
Net Rentable (SqFt) 25,500
Cap Rate 7.24%
NOI $159,000
Occupancy 100%
Tenancy Multi
Brand/Tenant Family Dollar
Lease Type NNN
Price per SqFt $71
Broker Co-Op Yes
Class B
Year Built 1940
Acreage 1.600
Zoning Central Business District
Parking Spaces 90 spaces
Parking per 1,000 SqFt 3.53
Investment Type Stabilized
Ceiling Height 18
Retail | 7.24% CAP | 25,500 SqFt
Marketing description
Virginia Square is a prominent mixed-use complex serving the central Salisbury area. Its anchor store is Family Dollar with a 25 year leasing history and a freshly authorized 5 year option. It is zoned Central Business District (CBD) and is in the Opportunity Zone. The rear of the building has two 6000+ sf warehouse units with a recently fenced/gated parking area. The complex offers parking for over 90 vehicles and boasts access from both Rt 13 North as well as Dover street. The warehouse units have three 14 ft roll up doors and ceiling heights up to 18 feet. The building is also fully sprinkled. Financials provided upon request.
Investment highlights
- 25 years Tenancy History with Family Dollar and a fresh Five year just signed
- 2 Local Warehouse users finish out the Tenancy
- 64 Parking spaces on the Retail side, 26 on the warehouse side
- Newly fenced/gated parking for the warehouse side
Listing Contacts
Listed by NAI Coastal - Salisbury
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$159,000.00
$13,250.00/mo
Valuation Metrics
0
DSCR
8.83%
Cap Rate
8.83%
ROI
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