DEALS

Deals

Rainelle Plaza – Rainelle, WV

THE OPPORTUNITY

  • Primary retail center within the submarket
  • Great access and visibility
  • Advance Auto recently added seven years of term to their lease taking their lease expiration to Dec 2030
  • 86% occupied leaving an investor with great upside in the deal
  • +/-1.6 acre outparcel included in the sale presents real value for an investor
  • Over 78% of the Rental Income is from Advance Auto and Dollar General
  • EPDM roof on the shopping center, TPO roof on AAP

THE HIGHLIGHTS

  • Rainelle Plaza is located across the primary grocer in the market, Kroger
  • Dollar General and Advance Auto have been in the center for 25+ years
  • Renewal by Dollar General in 2019 through 2026
  • Kroger is the only large grocery store within 20 miles
  • Service, E-Commerce Resistant, Discount Retail, and healthcare tenant mix
  • Neighborhood center with long track record of operating history
  • Early 7 year renewal by AAP solidifies them as a tenant for years to come
  • 23,230 ADT on Kanawha Ave, the highest traffic count in the market

THE DEAL POINTS

  • Cap Rate: 7.50%
  • Price: $1,691,000
  • Year Built: 1997
  • NOI: $126,844
  • Occupancy: 86%

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