new market madison - southeastern · square footage 172,353 occupancy 95% anchor big kmart...
TRANSCRIPT
New Market Madison Madison, NC
Southeastern is a full-service commercial real estate firm. The Investment Team specializes in well positioned anchored or unanchored retail properties throughout the country. Their proven track record on both the acquisition and disposition sides are a direct result of their understanding of the market place, appropriate asset valuation based off current market conditions and the alignment of asset to the most suitable and qualified Buyer/ Seller.
CONTACTS
SOUTHEASTERN 2743 Perimeter Parkway
Bldg. 100, Suite 370 Augusta, GA 30909
www.southeastern.company
David Rivers Vice President 706.840.0055
Ryan McArdle Vice President 706.631.8897
Steve Collins Vice President 706.564.8556
PROPERTY DETAILS
EXECUTIVE SUMMARY
DEMOGRAPHICS
INVESTMENT HIGHLIGHTS New Market Madison is the premier shopping destination for Madison, NC. Anchored by a solid performing Big Kmart and with a new junior box lease with Tractor Supply, this center offers investors a stabilized center at well below replacement cost. The center is co-tenanted by Peebles, Tractor Supply, Aaron’s, Hibbett Sports and many more. The national tenants comprise nearly 90% of the income for this asset. The existing parking lot is large enough to accommodate future development of outparcels and more. This center is in extremely good shape and shows very well. The strength of the center has been shown through new leases, renewals, and stable operating histories of current tenants. Three vacancies in the center allow a buyer to realize immediate upside and generate around $90,000 in additional NOI growth. - Stabilized neighborhood retail center - Priced well below replacement - Strong leasing environment - Ability to grow NOI through outparcel development, renewals, and lease up - Minimal needs for capex LOCATION New Market Madison is centrally located within the Madison market and is a part of the Piedmont Triad. Located just 20 miles northwest of Greensboro, NC and 25 miles northeast of Winston Salem, NC. This region continues to be one of the fastest growing areas in North Carolina and one of the hottest retail corridors within the southeast. The Piedmont Triad (or simply the Triad) is a north-central region of the U.S. state of North Carolina that consists of the area within and surrounding the three major cities of Greensboro, Winston-Salem, and High Point.
Address 101 New Market
Year Built 1992
Acreage 30
Square footage 172,353
Occupancy 95%
Anchor Big Kmart
Co-Tenants Tractor Supply, Aaron’s, Peebles, Hibbett, Subway
NOI $742,389
Cap Rate 9.25%
Asking Price $8,025,000
Price Per Square Foot
$46.56
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Southeastern is a full-service commercial real estate firm. The Investment Team specializes in well positioned anchored or unanchored retail properties throughout the country. Their proven track record on both the acquisition and disposition sides are a direct result of their understanding of the market place, appropriate asset valuation based off current market conditions and the alignment of asset to the most suitable and qualified Buyer/ Seller.
CONTACTS
SOUTHEASTERN 2743 Perimeter Parkway
Bldg. 100, Suite 370 Augusta, GA 30909
www.southeastern.company
David Rivers Vice President 706.840.0055
Ryan McArdle Vice President 706.631.8897
Steve Collins Vice President 706.564.8556