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Shopping Strip

Harrison Retail Center | 4% Seller Financing | 100% Occupied

3201 Harrison Ave, Butte, MT 59701

Listing Price: $1,718,000

Cap Rate
6.06%
Gross SF
5,807
Rentable SF
5,807
Price/Gross SF
$295.85
Lot Size
0.73 acres
Year Built
2008

Investment Overview

Marcus & Millichap’s Brown Retail Group has been exclusively selected to market for sale Harrison Retail Center, a fully occupied shadow anchored NNN retail center located in Butte, MT. The Property is currently occupied with a diverse tenant mix including Spectrum, GameStrop and Sally Beauty. All of the tenants currently operate on strong corporate guaranteed NNN leases, allowing for reimbursement of nearly all expenses and providing a hedge against rising operating expenses. GameStop recently executed their option to extend early for another two years with one more option to extend. The Property features attractive seller financing at a 4% interest rate, a rate that is aggressively more favorable than current bank offered interest rates. The Property was renovated in 2021 with over $100,000 in capital improvements including a new roof, exterior paint, new fence, parking lot lights, and more. The Property features a drive-thru lane that's not currently being utilized, opening up the potential for a future QSR, pharmacy or bank tenant. Located just off of Highway 15/90 and across the street from Butte Plaza Mall, the only regional mall in the city, the Property is shadow anchored by national tenants such as: JoAnn Fabrics, Wendy's, Walmart, Goodwill, Petco, Starbucks, and more. Within a 3-mile radius, the population has grown over 5.5% since 2010 and is projected to increase by another 2% in the next 5 years.

Investment Highlights

  • Fully Occupied Retail Center with Diverse Tenant Mix
  • Attractive 4% Seller Financing Available
  • Recent Property Renovations
  • Recent Lease Extensions
  • Strong Corporate Guarantees
  • Desirable Drive-Thru Feature
  • Located in Dominant Retail Trade Area
  • Strong Demographics Growth Sub-Market

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    (801) 736-2600

    License(s) MT: RRE-BRO-LIC-15748

    Montana

Shopping Strip

Harrison Retail Center | 4% Seller Financing | 100% Occupied

Listing Price: $1,718,000

Cap Rate
6.06%
Gross SF
5,807
Rentable SF
5,807
Price/Gross SF
$295.85
Lot Size
0.73 acres
Year Built
2008

Investment Highlights

  • Fully Occupied Retail Center with Diverse Tenant Mix
  • Attractive 4% Seller Financing Available
  • Recent Property Renovations
  • Recent Lease Extensions
  • Strong Corporate Guarantees
  • Desirable Drive-Thru Feature
  • Located in Dominant Retail Trade Area
  • Strong Demographics Growth Sub-Market

Investment Overview

Marcus & Millichap’s Brown Retail Group has been exclusively selected to market for sale Harrison Retail Center, a fully occupied shadow anchored NNN retail center located in Butte, MT. The Property is currently occupied with a diverse tenant mix including Spectrum, GameStrop and Sally Beauty. All of the tenants currently operate on strong corporate guaranteed NNN leases, allowing for reimbursement of nearly all expenses and providing a hedge against rising operating expenses. GameStop recently executed their option to extend early for another two years with one more option to extend. The Property features attractive seller financing at a 4% interest rate, a rate that is aggressively more favorable than current bank offered interest rates. The Property was renovated in 2021 with over $100,000 in capital improvements including a new roof, exterior paint, new fence, parking lot lights, and more. The Property features a drive-thru lane that's not currently being utilized, opening up the potential for a future QSR, pharmacy or bank tenant. Located just off of Highway 15/90 and across the street from Butte Plaza Mall, the only regional mall in the city, the Property is shadow anchored by national tenants such as: JoAnn Fabrics, Wendy's, Walmart, Goodwill, Petco, Starbucks, and more. Within a 3-mile radius, the population has grown over 5.5% since 2010 and is projected to increase by another 2% in the next 5 years.

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    (801) 736-2600

    License(s): MT: RRE-BRO-LIC-15748

    Montana

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