Listed by Franklin Johnson Commercial Real Estate
$4,445,000
±9.15 AC COMMERCIAL PROPERTY FOR SALE ON YADKIN ROAD
Details
Property Type Retail
Sub Type Convenience Store, Shopping Center
Square Footage 42,255
Net Rentable (SqFt) 42,255
Cap Rate 6.75%
Tenancy Multi
Lease Type Gross
Buildings 5
Acreage 9.150
Zoning CC - Community Commercial
Parking Spaces spaces
±9.15 AC COMMERCIAL PROPERTY FOR SALE ON YADKIN ROAD
Marketing description
This property is comprised of ±42,255 SF of retail space, plus an additional ±3.8-acre vacant commercial tract. With 16-tenants, this property serves as a stable income producing asset while offering significant value-add potential through the development of the vacant tract. The CAP Rate is 9.09 %. Gross Annual Revenues of $471,527.52 (or 11.16/ SF Gross Rent). The property has great visibility and access. Historical occupancy rates are close to 100% and many tenants have been there for decades
Investment highlights
- ±42,255 SF of retail space on 9.15 acres
- There are a total of 16 tenants, mostly on short term leases.
- The current gross revenue is $35,494.50 per month or $425,934.00 per year.
- Located on Yadkin Road, the property has great visibility and access.
- Site improvements include asphalt paving, concrete walks, fencing, pole signage, landscaping, numerous curb cuts, and generous parking.
- Public utilities.
Listing Contacts
Listed by Franklin Johnson Commercial Real Estate
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