Lakeshore Marketplace $4,750,000

Retail Investment Property For Sale

Lakeshore Marketplace $4,750,000 2016-12-19T23:46:06+00:00

Project Description

Lakeshore Marketplace  $4,750,000 – 19501 W Catawba Ave  NC 28031 

Rare opportunity to purchase income producing property on Catawba Ave in Cornelius. Site sits on 3.17 acres with great visibility and a solid tenant base. Opportunity to position property to add value. Retail leased on a NNN bases and office leased on a modified gross basis. Broker has ownership interest.

Located on Catawba Avenue in Cornelius. This cash flowing property in next to Jetton Village and almost across the street from the new Publix and fully updated center. New construction surrounds the area and more is planned.

Price $4,750,000 Cap Rate 6.67%
Gross Leasable Area 30,420 SF Occupancy 91%
Price/SF $156.15 No. Stories 2
Property Type Retail Tenancy Multiple
Property Sub-type Neighborhood Center Year Built 1987
Property Use Type Investment Lot Size 3.17 SF

Highlights

  • High Visibility
  • Traffic Count 27,000 VPD 2012
  • Stable Tenant Base
  • Near New Publix
  • Surrounded by New Construction
  • Additional Parking Lot

Financial Summary (Actual)

Net Operating Income $420,000