Listed by Dewey Property Advisors
$4,700,000
1078 Tunnel Rd
Details
Property Type Retail
Sub Type Shopping Center, Strip Center
Square Footage 14,092
Cap Rate 4.75%
NOI $223,269
Tenancy Multi
Lease Type NNN
Pro-Forma NOI $223,269
Acreage 1.920
Investment Type Value Add
Ground Lease No
Retail | 5.53% CAP
Marketing description
This popular 14,262 SF retail center is located on a primary commercial corridor with traffic counts of 25k+ VPD and retail demand. Neighboring businesses include VA Medical Center, Ingles Markets and many more.
This center offers approximately $260,000 in current income with significant upside through lease rollover, rent increases, and conversion to a more institutional lease structure.
Investment highlights
- Strong in-place income
- Short-term leases allow repositioning
- Diverse tenant mix
- High visibility location at signalized intersection
- Current NOI psf: $15.65
Listing Contacts
Listed by Dewey Property Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$223,269.00
$18,605.75/mo
Valuation Metrics
0
DSCR
4.75%
Cap Rate
4.75%
ROI
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Property History
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