Listed by Marcus & Millichap - Richmond, Marcus & Millichap - Raleigh
$2,600,000
Shoppes at Bellgrade (Value-Add)
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 7,452
Net Rentable (SqFt) 7,452
Units 2
NOI $132,922
Occupancy 100%
Tenancy Multi
Brand/Tenant Great Clips
Lease Type NNN
Pro-Forma NOI $219,357
Price per SqFt $349
Year Built 1996
Buildings 1
Stories 1
Acreage 1.130
Parking Spaces 44 spaces
Parking per 1,000 SqFt 5.90
Investment Type Value Add
Retail | 7,452 SqFt
Investment highlights
7,452 Square Feet Retail Strip Center | Two (2) Units | NNN Leases
Outparcel to Top 10 Kroger in Richmond, VA MSA (Source: Placer Ai)
Value-Add Opportunity Pharmacy Ready to Vacate w/ 60 Day Notice
1.13 Acres | 44 Parking Spaces | New Roof Added in 2013
Great Clips: 3% Annual Escalations | Verizon Cell Tower: Additional Income
Dark Pharmacy Still Paying Rent Below Market Rent
Year 3 Stabilized Cap Rate: 8.00%
Kroger Anchor Center Draws 1.8 Million Visitors Annually (Source: Placer Ai)
Listing Contacts
Listed by Marcus & Millichap - Richmond, Marcus & Millichap - Raleigh
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$132,922.00
$11,076.83/mo
Valuation Metrics
0
DSCR
5.11%
Cap Rate
5.11%
ROI
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