Brookmead Retail Center & Development Site (Plaza and Ground Lease Parcel) FOR SALE
Well performing retail plaza, solid tenancy priced to sell at a 10 CAP on current net income. Building consists of over 40,000 square footage. Recent capital improvements to the center of over half million dollars includes tenant fit-ups, septic expansion, roof replacement and blacktop pavement and striping.
Plaza Parcel includes nnn ground lease with well performing McDonalds franchise service by two(2x) drive-thru. Five (5), 5-year lease options and one, 3.5-year lease option. Substantial base rent increases for each lease extension. Current construct includes capital improvement investment over $750,000 by tenant.
- Price aggressively at 10 CAP on actual income
- NNN Ground lease, high volume McDonald’s w/ drive-thru current construction investment
- Solid plaza tenancy with upside with in-placed rental increases
- B-1 & I-3 zoning allowing high demand uses
- Development Expansion Opportunity – 8.2 acres
- Outstanding Demographics
- Flexible Zoning; Business / Retail and Light Industrial
- Rare Offering
- Excellent Property in High Growth Corridor
- High Traffic Count along Route 376: 12,302 AADT