Shopping Strip
Verizon Anchored Strip Center
1201 E 5th St, Metropolis, IL 62960
Listing Price: $615,500
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a 100% fee simple interest in a 6,010 square-foot Verizon anchored strip center in Metropolis, IL (“the Property”).
The Property is 78% leased to an internet resistant tenant line-up with successful tenured tenants including Verizon, Sunwalk Tanning, and World Finance. The Property benefits f rom i ts l ocation d irectly a cross the s treet from Big John’s Grocery Store, the only grocer in town.
Anchored by Verizon, the Property offers an investor nationally recognized tenants while remaining a bite-size deal due to the low rent paid by each tenant. Leasing the vacant suite would drive the NOI up to more than $64,000 and create a pro forma cap rate of 10%+.
The Property is being offered free and clear of debt at a 7.75% cap rate totaling $615,500.
Verizon Anchored Strip Center
Investment Highlights
- Anchored By Verizon Who Has Already Expressed Intent To Renew Again
- Sunwalk Tanning And World Finance Have Both Been At The Property Over A Decade And Have Renewed Multiple Times
- Leasing The Vacant Suite Will Bring The NOI Up To More Than $64,000 And Drive The Pro Forma Cap Rate Into Double Digits
- All Three Tenants Are Paying Low Rents Providing A Stabilized, Multi-Tenant Retail Shopping Strip For Just $615,500
- The Property Is Strategically Positioned Directly Across The Street From Big Johns Super Store, The Only Grocery Store In Metropolis
Listing Price: $615,500
Investment Highlights
- Anchored By Verizon Who Has Already Expressed Intent To Renew Again
- Sunwalk Tanning And World Finance Have Both Been At The Property Over A Decade And Have Renewed Multiple Times
- Leasing The Vacant Suite Will Bring The NOI Up To More Than $64,000 And Drive The Pro Forma Cap Rate Into Double Digits
- All Three Tenants Are Paying Low Rents Providing A Stabilized, Multi-Tenant Retail Shopping Strip For Just $615,500
- The Property Is Strategically Positioned Directly Across The Street From Big Johns Super Store, The Only Grocery Store In Metropolis
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a 100% fee simple interest in a 6,010 square-foot Verizon anchored strip center in Metropolis, IL (“the Property”). The Property is 78% leased to an internet resistant tenant line-up with successful tenured tenants including Verizon, Sunwalk Tanning, and World Finance. The Property benefits f rom i ts l ocation d irectly a cross the s treet from Big John’s Grocery Store, the only grocer in town. Anchored by Verizon, the Property offers an investor nationally recognized tenants while remaining a bite-size deal due to the low rent paid by each tenant. Leasing the vacant suite would drive the NOI up to more than $64,000 and create a pro forma cap rate of 10%+. The Property is being offered free and clear of debt at a 7.75% cap rate totaling $615,500.
