THE OPPORTUNITY

• ​Limited Competition
• ​No grocery competition within 5 miles
• ​Strong traffic counts with over 15,400 cars daily
• ​Scotland High School, with over 1,300 students located less than 2 miles away
• ​76% of the GLA made up of National Tenants
• ​79% of Rental Income comes from National Tenants
• ​84% of Rental Income comes from tenants who have been at the center for at least 20 years

THE DEAL POINTS

• Marketed Asking Price: $2,038,900
• Marketed Cap Rate: 9.00%
• NOI: $183,496
• Square Footage: 43,320 SF
• Occupancy: 84%

THE HIGHLIGHTS

• ​Tenant Longevity:
  • ​Food Lion since 1987, 34 years
  • ​Family Dollar since 1996, 25 years
  • ​Magic Nails since 2001, 20 years
  • ​State Employee Credit Union since 2010, 11 years
• ​2 new leases signed during 2020
• ​Significant upside through lease up of 6,720sf vacancy
• ​Family Dollar recently agreed to a 5-year extension
• ​Food Lion’s 2020 sales: $8,889,903 ($355.60psf)
• ​New Roof installed in 2015
  • ​20-year warranty