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Shopping Strip

Salem Plaza

1 New London Rd, Salem, CT 06420

Listing Price: $1,640,000

Cap Rate
7.00%
Gross SF
21,532
Rentable SF
21,532
Price/Gross SF
$76.17
Lot Size
20.00 acres
Year Built
1988

Investment Overview

Marcus & Millichap is pleased to present the Salem Town Center located at 1 New London Rd, Salem, CT 06420. The building is 63% occupied and is ideally located on the area's main commuter route. This highly visible site sits on the corner of Connecticut's Routes 82 and 85 and has excellent frontage along Route 85 with easy access. Recent owner and tenant upgrades enhanced the curb appeal. This long-standing gem provides a new owner with immediate steady cash flow with the significant value-add component to lease up the vacancy.

The building is comprised of just over 21,000 square feet and sits on 20 acres of land. With an occupancy of 63%, there is significant upside potential. There are seventeen (17) units of which ten (10) are occupied. The building benefits from a healthy mix of well-established long-term tenants anchored by Dunkin Donuts and Subway. Several of the tenants have occupied the premises for over 20 years speaking tho the strength of the location.

Investment Highlights

  • Anchored by Dunkin Donuts
  • Significant Upside - Roughly 37% or 8,000 sq ft of Realizeable Vacancy Upside
  • Situated at the corner of CT Routes 82 and 85
  • High Visibility and Easy Access on the areas Main Commuter Route
  • Recent Capital Improvements

Exclusively Listed By

Financing By

Shopping Strip

Salem Plaza

Listing Price: $1,640,000

Cap Rate
7.00%
Gross SF
21,532
Rentable SF
21,532
Price/Gross SF
$76.17
Lot Size
20.00 acres
Year Built
1988

Investment Highlights

  • Anchored by Dunkin Donuts
  • Significant Upside - Roughly 37% or 8,000 sq ft of Realizeable Vacancy Upside
  • Situated at the corner of CT Routes 82 and 85
  • High Visibility and Easy Access on the areas Main Commuter Route
  • Recent Capital Improvements

Investment Overview

Marcus & Millichap is pleased to present the Salem Town Center located at 1 New London Rd, Salem, CT 06420. The building is 63% occupied and is ideally located on the area's main commuter route. This highly visible site sits on the corner of Connecticut's Routes 82 and 85 and has excellent frontage along Route 85 with easy access. Recent owner and tenant upgrades enhanced the curb appeal. This long-standing gem provides a new owner with immediate steady cash flow with the significant value-add component to lease up the vacancy.

The building is comprised of just over 21,000 square feet and sits on 20 acres of land. With an occupancy of 63%, there is significant upside potential. There are seventeen (17) units of which ten (10) are occupied. The building benefits from a healthy mix of well-established long-term tenants anchored by Dunkin Donuts and Subway. Several of the tenants have occupied the premises for over 20 years speaking tho the strength of the location.

Exclusively Listed By

Financing By

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