McDowell Square Shopping Center

By January 24, 2019Available Properties

Investment Offering – $4,000,000

McDowell Square Shopping Center | Marion, NC 28752

NOI: $310,076 Cap Rate: 7.75%
Lease Term: Variable Remaining Term: Variable
Lease Type: Variable Lot Size: 10.35 Acres
Renewal Options: Variable

PROPERTY HIGHLIGHTS

100% LEASED RETAIL CENTER WITH STRONG CORPORATE TENANTS

  • Leased to three corporate tenants with strong financials
  • Long-term leases with scheduled rental increases
  • Strong and established customer base

HIGH-TRAFFIC LOCATION AT SIGNALIZED HIGHWAY INTERSECTION

  • Excellent visibility and access to more than 35,000 vehicles per day at the signalized highway intersection of US 221 and US Highway 70
  • Gateway to the Blue Ridge Mountains and 5 minutes to downtown Marion, NC
  • Strategically located between Asheville, Morganton, Old Fort, Spruce Pine and Rutherfordton
  • Affluent customer base in a growing submarket, over 40,000 residents with an average household income of $50,000 live within a ten mile radius

LOCATED IN MAJOR SHOPPING CENTER

  • Directly adjacent to regional shopping center anchored by Food Lion,Peebles and Cato
  • Shadow anchored by Lowe’s along with the high quality outparcel’s of Mcdonald’s and Wendy’s
  • A dominant grocery anchored center, the Food Lion is one of the top performing in the Asheville MSA, and has a long term lease in place
  • Nearly 100% occupied, the national chain store tenants generate over 80% of the Centers revenue, while local and regional tenants have been in occupancy for over 20 years

RECENT RENNOVATIONS AND IMPROVEMENTS

  • Recently retrofitted box with brand new tenant buildouts
  • 15 years remaining on roof warranty
  • Over $1,000,000 in tenant improvements added

CONTACT US

PAUL TRUPIA III
P: 646.791.0818
paul@kentwoodcapital.com

ED BRESLIN
P: 310.774.3790
ebreslin@kentwoodcapital.com

OFFERING
MEMORANDUM

To download the offering memorandum, please enter your name, email address and indicate whether you are a Buyer or Broker: