University Plaza
Retail | 7.40% CAP | 79,700 SqFt
Marketing description
Welcome to an exceptional investment opportunity at University Plaza. Built in 1986 and fully stabilized, this established retail center offers 79,700 square feet of robust GLA. What truly sets this asset apart is its massive 17.2 ACRE footprint, presenting an incredibly rare value-add proposition.
There is ample room to develop 2 ADDITIONAL PAD SITES, and we are currently in active discussions with both a National Coffee Drive-Thru and a QSR - offering an immediate avenue to substantially pump up your Net Operating Income from day one.
This property is more than just secure income-it's a high-yield growth vehicle. Anchored by trusted credit tenants like Kroger (Ruler Foods), Farmers Furniture, and Aaron's, it delivers an attractive 7.1% Cap Rate. Situated under a mile from UT Martin with its 6,900+ students and a massive $500M annual economic impact, the center undeniably dominates its trade area. Let's discuss how capitalizing on these pad site developments can maximize your return on this powerhouse asset.
Investment highlights
- Massive Value-add Potential: Situated on an Expansive 17.2-acre Lot With Room to Add 2 New Pad Sites. Active Discussions Are Ongoing With a National Coffee Drive-thru and a Qsr.
- Attractive Financial Yield: Delivers a Robust 7.4% Cap Rate on $517,500.00 of Strong Net Operating Income.
- Credit Anchor Tenancy: Anchored by Highly Recognizable Brands Including Kroger (Ruler Foods), Farmers Furniture, and Aaron's.
- Long-term Lease Security: Anchor Leases Extend Through 2027 (Aaron's), 2029 (Kroger), and 2030 (Farmers Furniture), All Featuring Multiple Renewal Options.
- Proximity to Major Institution: Less Than One Mile From Ut Martin, Providing a Consistent 6,900+ Student/Staff Customer BASE and Tapping Into a $500m Local Economic Impact.
- Dominant Retail Hub: Benefits From Limited Competitive Retail Options in Northwest Tennessee, Effectively Drawing 63% of Consumer Traffic From Over Seven Miles Away.
- Low Near-term CAPEX: Asset Features a Recently Replaced Roof (2019) That Remains Under Active Warranty Until 2029.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
