Marketplace Shopping Center - NAI Knoxville
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FOR SALE | Investment Opportunity Marketplace Shopping Center 4798 New Highway 68, Madisonville, TN 37354 Contact information Sam Tate, Jr., CCIM 865 777 3035 direct [email protected] NAI Knoxville 10101 Sherrill Boulevard Knoxville, TN 37932 865 777 3030 main 865 777 3049 fax www.naiknoxville.com The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
Transcript of Marketplace Shopping Center - NAI Knoxville
FOR SALE | Investment Opportunity
Marketplace Shopping Center 4798 New Highway 68, Madisonville, TN 37354
Contact information
Sam Tate, Jr., CCIM 865 777 3035 direct [email protected]
NAI Knoxville 10101 Sherrill Boulevard Knoxville, TN 37932 865 777 3030 main 865 777 3049 fax www.naiknoxville.com
The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
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FOR SALE | Marketplace Shopping Center
Table of Contents 4798 New Highway 68, Madisonville, TN 37354
The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition. 865 777 3030
￭ Property Overview ................................................................................................ 3 Property descrip on Loca on descrip on Property basics
￭ Location Maps ............................................................................................ 4 Knoxville MSA Madisonville, Tennessee Subject Property immediate area
￭ Site Plan ......................................................................................................... 5
￭ Investment Summary............................................................................... 6
￭ Rent Roll Summary ................................................................................... 7
￭ Property Photos ......................................................................................... 8-9
￭ Traffic Count Maps ................................................................................... 10-11 Subject Property including I‐75 Subject Property immediate area
￭ Competition Map ....................................................................................... 12
￭ Executive Summary ................................................................................. 13 - 14
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￭ 44,218 SF Shopping Center (23.5% Occupied; 97.29% Leased)
￭ Tenants Food Lion Quick Cash Ivan’s Tobacco Warehouse Family Dollar Stores
￭ Acreage: 4.973 Acres
￭ Parking spaces: 201
￭ Parking ratio: 4.54/1,000 SF
FOR SALE | Investment Opportunity
Marketplace Shopping Center 4798 New Highway 68, Madisonville, TN 37354
Contact information
Sam Tate, Jr., CCIM 865 777 3035 direct [email protected]
NAI Knoxville 10101 Sherrill Boulevard Knoxville, TN 37932 865 777 3030 main 865 777 3049 fax www.naiknoxville.com
The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
Madisonville, Tennessee
FOR SALE
$1,600,000 ($36.18/sf)
Property Description Prominent property in the community of
Madisonville, TN. Anchor lease for the center is Food Lion, but store was closed in 2003. Food
Lion remains under lease un l 2/28/2017. Center was constructed in 1997.
If the former Food Lion space is re‐tenanted with a grocery, the rent on the Family Dollar
space changes from 2% of gross sales (currently about $12,000 per annum), to $3,475 per mo. The former Quick Cash space is availa‐
ble for lease for $1,000 per month.
Area Description Loca on is 12 miles South of I‐75 (Exit 60)
on the scenic State Route 68. Madisonville has a popula on of approx. 4,000 and is the county
seat for Monroe County. It is also the home of Hiawasee College.
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FOR SALE | Marketplace Shopping Center
Location Maps 4798 New Highway 68, Madisonville, TN 37354
The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition. 865 777 3030
Knoxville MSA
DISTANCES TO:
Major Interstate 12.5 miles to Interstate 75 Major Highway Located on New Hwy 68 0.2 miles to Hwy 411 Airport 3.9 miles to Monroe Co Airport
Madisonville, TN (immediate area)
Madisonville, TN (proximity to I‐75)
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FOR SALE | Marketplace Shopping Center
Site Plan 4798 New Highway 68, Madisonville, TN 37354
865 777 3030 The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
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FOR SALE | Marketplace Shopping Center
Investment Summary 4798 New Highway 68, Madisonville, TN 37354
865 777 3030
The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
Marketplace Shopping Center
Lis ng Price $1,600,000 Building SF 44,218
Proforma CAP 14.86% Rentable SF 44,218
Price Per SF $36.18 Load Factor 0
Expenses Per SF $1.08 Parking Ra o 4.54/1,000
Land Acres 4.973
Estimated Annualized Operating Data
Scheduled Income 259,075
Other Income 26,404
Less Vacancy 3,886
Gross Opera ng Income 281,593
Less Expenses 47,710
Net Opera ng Income $237,769
Current
Estimated Annualized Expenses
Current
Projected Taxes 18,170
Insurance 5,111
Off‐Site Management 9,600
U li es 2,409
Repairs/Maintenance 12,420
Total Expenses 47,710
Expenses Per SF $1.08
Complete CCIM APOD, Cash Flow & IRR‐NPV, Assump ons available upon request.
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FOR SALE | Marketplace Shopping Center
Rent Roll Summary 4798 New Highway 68, Madisonville, TN 37354
865 777 3030 The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
Tenant Expira on Date Occupied SF Vacant SF
Annual Rent/SF
Occupied Rent
Vacant Rent (poten al rent)
% of Total SF
Escala ons/Op ons/Comments
Food Lion 2/28/2017 33,818 0 $6.86 $232,000 76.5%
Tenant has vacated but lease does not expire un l 2017
Quick Cash Month‐to‐
month 0 1,200 $10.00 $12,000 12,000 2.7% For lease $1,000 per
mo
Ivan’s Tobacco Warehouse
Month‐to‐month 1,200 0 $10.00 $12,000 2.7%
Family Dollar Stores 12/31/2016 8,000 0 $1.50 $12,000 18.1%
If anchor space is re‐tenanted by a
grocery store, Family Dollar rent goes up
to $3,475/mo.
TOTAL 44,218 $268,000 100%
Poten al Rental Income $268,000
Total SF 44,218
Avg Annual Per SF $6.06
SF Vacancy 1,200
SF Vacancy % 2.71%
Rent Vacancy 1,000 per month
Addi onal informa on available upon request.
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FOR SALE | Marketplace Shopping Center
Property Photos 4798 New Highway 68, Madisonville, TN 37354
865 777 3030 The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
Monument Signs at Hwy 68 frontageMonument Signs at Hwy 68 frontage
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FOR SALE | Marketplace Shopping Center
Property Photos 4798 New Highway 68, Madisonville, TN 37354
865 777 3030 The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
Food Lion Loading DocksFood Lion Loading Docks Back of Family Dollar StoresBack of Family Dollar Stores
Food Lion Side AccessFood Lion Side Access Food Lion Loading Dock AreaFood Lion Loading Dock Area Food Lion North End Food Lion North End
View North on Hwy 68View North on Hwy 68 Neighbor North of Family DollarNeighbor North of Family Dollar View North Across Parking LotView North Across Parking Lot
View of BB&T Across Parking LotView of BB&T Across Parking Lot
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Completed Projects 5260 S. National Drive
FOR SALE | Marketplace Shopping Center
Traffic Count Map 4798 New Highway 68, Madisonville, TN 37354
865 777 3030
The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
30,000‐50,000
13,100 17,190
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Completed Projects 5260 S. National Drive
FOR SALE | Marketplace Shopping Center
Traffic Count Map (close up) 4798 New Highway 68, Madisonville, TN 37354
865 777 3030
The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
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Completed Projects 5260 S. National Drive
FOR SALE | Marketplace Shopping Center
Competition Map 4798 New Highway 68, Madisonville, TN 37354
865 777 3030 The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
Wal-Mart Supercenter
Ingle’s Supermarket
Stephen’s Grocery & Hardware
Save-A-Lot
Ingle’s Supermarket
Subject Property
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Completed Projects 5260 S. National Drive
FOR SALE | Marketplace Shopping Center
Demographics 4798 New Highway 68, Madisonville, TN 37354
865 777 3030
Executive Summary Page 1
The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
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Completed Projects 5260 S. National Drive
FOR SALE | Marketplace Shopping Center
Demographics 4798 New Highway 68, Madisonville, TN 37354
865 777 3030
Executive Summary Page 2
The information contained herein has been given to us by the owner of the property or derived from sources which we deem reliable. NAI Knoxville has no reason to doubt its accuracy, but we do not guarantee it. All pertinent facts should be independently verified prior to acquisition.
