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| Elaine VonCannon |
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Email Elaine |
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Phone: |
757-645-1795 |
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Cell: |
757-288-4685 |
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Fax: |
757-345-6666 |
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Address:
Route 460
Type: Residential
Style:
Lot Type: Rectangular
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AN AFFORABLE INVESTMENT WITH A CAP RATE, THAT COULD BE MADE A 8 PLUS! Located in Grundy, Virginia this 25 unit shopping center. Offered at $2,700,000, Situated on approximately 12 acres, 93,890 square feet, Price per square foot is $3.50 (This is far below the national average of roughly $16.00 per square foot), this would mean more of a profit margin with rent increases over the next few years. No vacancies since the shopping center opened in 1978, Situated near Law School and Pharmacy School. This property generates 300,000 annually. Net Gross is 265,000 annually. Large open areas for potential out parcels, that could be sold or used for ground leases. This property has a history of a great cash flow! List price $3,000,000.00 makes this A GREAT INVESTMENT AND A GOOD CANDIATE FOR A 1031 TAX EXCHANGE. Priced less than current tax assessment, do not miss this opportunity! Out parcels could be sold or offered on a ground lease. Rents have not been adjusted since shopping was built! THIS IS A REAL MONEY MAKER! OWNER FINANCING AVAILABLE!
This area needs a restaurant, coffee shop, pizza place, grocery store, night club, fitness center. These type of business would do well on the out parcels. |
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