Description
Value-add retail center at high traffic corner of 161 and Lebanon Ave. Five tenants currently occupy the property with the addition of an apartment and one retail space available for lease. There hasn't been much issues leasing units out so the two vacant units should lease out quickly. Current gross income is $40,776 with current estimated expenses being $20,203. NOI is $20,573 giving the property a cap rate of 5.5%. If the two units are leased then it will give put the gross income to $59,076 giving the center a NOI of $38,503 and cap rate of 10.3%.
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0BEDS
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1.28ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
Value-add retail center at high traffic corner of 161 and Lebanon Ave. Five tenants currently occupy the property with the addition of an apartment and one retail space available for lease. There hasn't been much issues leasing units out so the two vacant units should lease out quickly. Current gross income is $40,776 with current estimated expenses being $20,203. NOI is $20,573 giving the property a cap rate of 5.5%. If the two units are leased then it will give put the gross income to $59,076 giving the center a NOI of $38,503 and cap rate of 10.3%.
Listing information © 2022 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2022-06-27T08:40:09.94.
Clarity Street Realty: 314-963-7300
Listing provided courtesy of Ah Realty Advisors, Llc. Listing information © 2022 Mid America Regional Information Systems, Inc.