Attractive Cap Rate & Ability to Increase Yield to 10%: Allows for a healthy spread in today’s interest rate environment.
Below-Market Rents: Current gross rents average just over $10/SF, offering significant potential for future rent growth.
High Retail Occupancy: Retail properties within a one-mile radius are 99.5% occupied, reflecting strong tenant demand and limited supply.
Underserved Trade Area: Strategically positioned in a neighborhood with minimal competing retail, enhancing tenant retention and long-term viability.
Efficient Tenant Mix: Comprised of small-format tenant spaces, which are typically easier to lease and re-tenant, reducing downtime.
Excellent Visibility and Access: Prominent frontage and convenient ingress/egress support strong consumer traffic and tenant performance.
Acquisition Basis Well Below Replacement Cost: Priced at approximately $95/SF, materially below estimated replacement cost, providing a favorable entry point.