13,000 SQ. FT. NNN SHOPPING PLAZA * 100% OCCUPIED - 21326

 
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Gulya Zhakupova

Capital Commercial Real Estate Group

Office Phone: 305-318-8250

Cell Phone: 305-318-8250

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Published on: Thursday, June 19, 2014 12:42:38 PM
Updated on: Thursday, June 19, 2014 12:42:38 PM
Purchase with B2B
Purchase with B2B
 Purchase with Business to Business
Quick Glance

Listing ID: CL-Florida-30858

Status: Accepting Offers

Financing: No Financing Available

Occupancy: 100%

Year Build: 0

 

Building Size: 13,000 SqFt

Lot Size: 54,000 Acre

No of Stories: 1

No of Parking: 0

Business Available for Sale: No

Is Net Lease Investment: Yes

Property On Ground Lease: No

Building Status: Existing

 Details

Offer to Millionaire Club: No

Listing Summary: THIS SHOPPING CENTER WAS CONSTRUCTED IN 2006. THE PROPERTY HAS A TRIPLE NET LEASE WHICH COMMENCED AT THE END 2006 AND TERMINATES IN 2017. THERE ARE TWO FIVE YEAR OPTION PERIODS, WITH RENTAL INCREASES BEETWEEN THEM. THE SUBJECT PROPERTY IS A 13, 000 SQ. FT BUILDING AND 54,000 SQ FT LAND. LEASED TO NATIONAL TENANTS: THE MEN’S WEARHOUSE, CASUAL MALE RETAIL AND VITAMIN SHOPPE. EXISTING LOAN $3,500,000 COULD BE ASSUMED 10 YEAR NNN LEASE, EXPIRING IN 2017+2 FIVE YEAR OPTIONS BUILDING HAS BENEFICAL LEASE TERMS WITH INCREASES AT OPTIONS AND ENDING 2027 WHEN THE LEASE COULD BE RENEGOTIATED AT HIGHER RATE PROVIDING HIGHER IRR ON THIS INVESTMENT. THIS PROPERTY IS AN OUTPARCEL TO THE WESTFIELD CITRUS PARK MALL WITH OVER 150 STORES AND ANCHORED BY DILLARD’S, MACY’S, JCPENNEY, DICK’S SPORTING GOODS AND SEARS AND ACROSS THE STREET FROM THE PLAZA OF CITRUS PARK ANCHORED BY SPORT AUTHORITY, BESTBUY, PETSMART, ROSS, BED BATH & BEYOND, STAPLES AND JO-ANN FABRICS. (Br. # 21326)

Acquisition Option Selected: Traditional Purchase

Cap Rate (%): 0

Commission Split (%): 0

Complete Details


Year Build: 0

Building Size: 13,000 SqFt.

No of Stories: 1

Total Lot Area: 54000.00 Acre

No of Parking: 0

No of Total Units: 1

Property Current Status: Normal Sale

Building Status: Existing

Heating and Cooling: Heating and Cooling

Building Class: Not Specified

Property on Ground Lease?: No

Net Lease Investment?: Yes

Business Price Included?: No

Roofing: Not Specified

Occupancy: 100%

Full Description


THIS SHOPPING CENTER WAS CONSTRUCTED IN 2006. THE PROPERTY HAS A TRIPLE NET LEASE WHICH COMMENCED AT THE END 2006 AND TERMINATES IN 2017. THERE ARE TWO FIVE YEAR OPTION PERIODS, WITH RENTAL INCREASES BEETWEEN THEM. THE SUBJECT PROPERTY IS A 13, 000 SQ. FT BUILDING AND 54,000 SQ FT LAND. LEASED TO NATIONAL TENANTS: THE MEN’S WEARHOUSE, CASUAL MALE RETAIL AND VITAMIN SHOPPE. EXISTING LOAN $3,500,000 COULD BE ASSUMED 10 YEAR NNN LEASE, EXPIRING IN 2017+2 FIVE YEAR OPTIONS BUILDING HAS BENEFICAL LEASE TERMS WITH INCREASES AT OPTIONS AND ENDING 2027 WHEN THE LEASE COULD BE RENEGOTIATED AT HIGHER RATE PROVIDING HIGHER IRR ON THIS INVESTMENT. THIS PROPERTY IS AN OUTPARCEL TO THE WESTFIELD CITRUS PARK MALL WITH OVER 150 STORES AND ANCHORED BY DILLARD’S, MACY’S, JCPENNEY, DICK’S SPORTING GOODS AND SEARS AND ACROSS THE STREET FROM THE PLAZA OF CITRUS PARK ANCHORED BY SPORT AUTHORITY, BESTBUY, PETSMART, ROSS, BED BATH & BEYOND, STAPLES AND JO-ANN FABRICS. (Br. # 21326)

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