207-231 Mose Dr - Storefront FOR SALE


Sparta, TN 38583
$8,950,000 USD
978-854-2126
207-231 Mose Dr, Sparta, TN for Sale
$8,950,000 USD
Storefront - FOR SALE
1/5
null | 7.25% Cap Rate

207-231 Mose Dr
Sparta, TN 38583


HIGHLIGHTS

  • Built in 1984 and recently redeveloped in 2023 limits capital repairs for an investor during the hold period
  • Situated just off Highway 111 (16,000 VPD), with strong visibility and access, and adjacent to popular fast-food chains
  • The asset benefits from newly signed long term leases with national tenants
  • The offering includes two development sites that can accommodate future retail uses. Initial plans show approximately 3.6 acres of additional land
  • Sparta’s entire geographic area is designated as an Opportunity Zone offering potential tax benefits for investors

OVERVIEW

Atlantic Capital Partners has been exclusively engaged to market for sale West Towne Plaza, a premier neighborhood shopping center in Sparta, TN, anchored by newly signed national tenants including Five Below, Bealls, and Shoe Sensation. The 21.1-acre site is ideally situated along Route 111, the primary highway connecting Sparta to Cookeville to the north and Spencer to the south. The center benefits from significant community engagement and ongoing demand for retail space, as demonstrated by the rapid lease-up following redevelopment. Furthermore, the availability of adjacent land parcels and planned outparcel development provide investors with compelling near-term value enhancement opportunities. Totaling 94,152 square feet, West Towne Plaza is presently 100% leased to 12 retail tenants with 5.8 years of weighted average lease term remaining. West Towne Plaza is being offered for sale at a stated list price of $8,950,000. The asset is being offered for sale, free-and-clear of existing debt.

FOR SALE DETAILS

PRICE

$8,950,000 USD

PRICE/SF

$91 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

West Town Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

Roosevelt St

LAND ACRES

19.1 AC

LAND SF

831,996 SF

ZONING

C-D

APN/PARCEL ID

048-019.04

ASK ABOUT THIS PROPERTY

Teddy DriscollAtlantic RetailMore Info
978-854-2126

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Teddy DriscollAtlantic RetailMore Info
978-854-2126

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.