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Shopping Center properties with a high percentage of national credit anchors are the most requested centers.
Shopping Center Property # 1043
Shopping Center Tenants:
Major Anchors: 1st Major Anchor (37,575 sq ft), 2nd Major Anchor (25,000 sq ft), 3rd Major Anchor (24,946 sq ft), 4th Major Anchor (13,635 sq ft)
Capitalization Rate (CAP): 9.33%
Asking Price: $15,000,000
Projected 1996 Net Operating Income (NOI): $1,400,000
State Located: FL
Lease Terms: Typical lease term of locals is 10 years. Typical lease term of anchors is 10-15 years.
Size of Building: 122,046 sq. ft.
Size of Lot: 11.7 acres
Financing Obligations: None
Additional Comments: An upscale retail shopping center built in 1993. 555 Parking spaces, Concrete Block and Stucco, Barrel Tile Roof. Percentage Leased is 100%. Percentage anchor to total is 83% (101,156 sq ft of 122,046 sq ft). Base rent to anchors is $9.00 - $15.00 Net.. Base rent to locals is $19.13 - $21.75 Net. 1996 estimate for Common area expenses, real estate taxes, Insurance is $3.38 per sq ft. Typical escalations for anchors vary (please inquire). Typical escalations for locals is 3.5 - 4% per annum. Population counts, 3 mile, for 1994 is 48,000. Largest Income Bracket is $50,000 - $74,999 (21%).
Request for Package & Non-Exclusive Agreement: Buyers currently under agreement in our files, simply request more information. Buyers interested
in the above Shopping Center Property and not yet under previous agreement, please request our agreement.
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Information contained herein has been obtained from sources that are deemed reliable. We have no reason to doubt the accuracy, however we do not guaranty it.
This Shopping Center Property is offered subject to prior placement, withdrawal, cancellation, or other conditions without prior notice.