Proforma NOI: $442,802
Proforma CAP: 11.35%
River Square Marketplace is an excellent opportunity for an investor to acquire a value-add shopping center in Columbus. This is relatively rare, considering that the neighborhood center vacancy stands at 6.0%, power center vacancy at 11.1%, strip center vacancy at 4.0%, and general retail vacancy at 2.5% in the greater Columbus retail submarket - according to CoStar.
The property is situated on S Lumpkin Rd, which has traffic counts of over 10,000. National tenants on this stretch of road include Krystal, McDonald's, CVS, Family Dollar, KFC, Boost Mobile, and Piggly Wiggly. The main shopping center is on 9.96 acres, smaller center on 0.69 acres, and Bank of America on 0.58 acres.