- The 33,451 square feet of existing vacancy provides significant upside for an investor.
- The floor plans of the vacant units present layout flexibility for a wide range of businesses.
- Average rents at $3.93psf are well below market rates.
- An investor will potentially have the ability to grow the NOI by creating an outparcel(s) in the parking lot.
THE DEAL POINTS
- Square Feet: 76,256
- Occupancy: 56%
- NOI: $131,000
- Asking Price: $1,454,000
- Cap Rate: 9.01%
- Rockingham Square is located on the primary retail corridor within the Madison Market.
- Existing tenants are made up of a combination of non-profits and ecommerce proof businesses.
- The average occupancy at Rockingham Square is 6.8 years.