Listed by ParaSell Inc, Hanley Investment Group
$1,840,000
Shops to Safeway | Klamath Falls, OR
Details
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 10,459
Net Rentable (SqFt) 10,459
Tenancy Multi
Pro-Forma Cap Rate 9.09%
Pro-Forma NOI $167,451
Year Built 2001
Acreage 0.960
Ground Lease No
Significant Value-Add | 72% National Tenants | Top 15% Safeway Nationwide per Placer.ai
Marketing description
CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/ShopstoSafeway_Klamath
Investment highlights
- Value-Add Shops to High-Performing Safeway (Top 15% Nationwide per Placer.ai with 1 Million Annual Visits)
- 66% occupied shops providing huge value-add through lease up of vacant suite
- Proforma cap rate of 9.09%
- # 1 Metro by T-Mobile in the country out of 3,551 locations, per Placer.ai
- All tenants recently renewed with a WALT of 3.9 years
- Excellent tenant synergy with strong daily drivers including Metro by T-Mobile, GNC, Great Clips, Little Caesars, and more
- National tenants make up 72% of the occupied square footage
- Well Below Replacement Cost at Only $176 PSF
- Significant Cap Ex Completed: New silicone roof coating with 20-year warranty, multiple trees removed providing increased visibility, and brand new paint
- Excellent Frontage on South 6th Street Providing Excellent Visibility on One of the Busiest Thoroughfares in the Trade Area
- 37,000 CPD Intersection at South 6th Street and Homedale Road
- Other Nearby National/Credit Tenants Include The Home Depot, Grocery Outlet, Ross Dress for Less, Harbor Freight, Sportsman’s Warehouse, Fred Meyer, and more
- Over 45,000 Residents with an Average Household Income of More Than $63,000 in a 5-Mile Trade Area
Listing Contacts
Listed by ParaSell Inc, Hanley Investment Group
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