320-390 W Columbus Ave - Storefront FOR SALE


Corry, PA 16407
$6,350,000 USD
516-737-3638
320-390 W Columbus Ave, Corry, PA for Sale
$6,350,000 USD
Storefront - FOR SALE
1/9
null | 7.51% Cap Rate

320-390 W Columbus Ave
Corry, PA 16407


HIGHLIGHTS

  • Strong National Anchor Tenancy: The center is anchored by Tractor Supply, CVS, Family Dollar, and KeyBank and other local tenants
  • Favorable Expense Reimbursements: Tractor Supply operates on a lease structure where they reimburse a portion of taxes and insurance
  • Additional Tax Reimbursement Income: KeyBank contributes to operating eciency by reimbursing a percentage of taxes
  • Diverse, Necessity-Based Tenant Mix: Tenants span from essential categories including pharmacy, discount retail, banking, wireless, and service retail
  • Corry Plaza serves as one of the primary retail centers in the trade area, beneting from limited competing

OVERVIEW

Corry Plaza is a well located neighborhood shopping center in Corry, PA anchored by Tractor Supply, CVS, Family Dollar, and KeyBank. These nationally recognized tenants drive consistent traffic and provide a strong foundation of stable cash flow. The property consists of approximately 108,000 square feet and generates about $653,000 in annual income with an NOI of roughly $478,000. There is also an approximately 18,000 square foot vacancy, giving a new owner the opportunity to increase value through lease up and additional income. The tenant mix is primarily necessity based which supports steady performance in the market. Corry Plaza serves as one of the main retail centers in the area and draws customers from over a 20 mile radius, helping support long term tenant stability and occupancy. Overall, this is a stable, cash flowing asset with a strong tenant base and clear upside through leasing and continued rent growth.

FOR SALE DETAILS

PRICE

$6,350,000 USD

PRICE/SF

$59 USD /SF

CAP RATE

7.51%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Corry Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Drug Store, Storefront, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1969

SPRINKLERS

-

PARKING SPACES

850

LAND DETAILS

CROSS STREETS

Columbus Rd (Rte 6) & Worth

LAND ACRES

18 AC

LAND SF

784,080 SF

ZONING

AI5

APN/PARCEL ID

07-012-047.0-030.01

ASK ABOUT THIS PROPERTY

Abraham AdjmiSilber Investment Properties, LTDMore Info
516-737-3638

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Abraham AdjmiSilber Investment Properties, LTDMore Info
516-737-3638

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