973 Highway 51 N - Storefront FOR SALE
Covington, TN 38019 |
973 Highway 51 N
Covington, TN 38019
HIGHLIGHTS
- 100% Occupied Five Below and Dollar Tree Anchored Center; o 90% national/regional tenants with a weighted average lease term of 7.07 years (WALT)
- Five Below (54% of the income) just signed a brand new 10-year lease; Dollar Tree (S&P: BBB) has operated at the site for nearly 13 years
- Five Below and Dollar Tree Make Up 73% of the Income Stream; Priced Below Replacement Cost at $122 PSF
- Shadow-Anchored by Tractor Supply Co., Big Lots, and Bealls, Increasing Customer Traffic to the Subject Property
- Large Pylon Signage Increasing Visibility to the Site
- Situated on U.S. Highway 51 S, a Major Thoroughfare Traveling Directly into Memphis (Over 15,000 CPD); TN is an Income Tax-Free State
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
North Plaza Shopping Center
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront
ADD'L SUBTYPES
Department Store
TOTAL BUILDING SIZE
29730
STORIES
1
YEAR BUILT
1996
SPRINKLERS
-
PARKING SPACES
398
LAND DETAILS
LAND ACRES
-
LAND SF
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ZONING
-
APN/PARCEL ID
025F-A-012.00
