975 Highway 51 N - Storefront FOR SALE
Covington, TN 38019 |
975 Highway 51 N
Covington, TN 38019
HIGHLIGHTS
- NEW LEASES WITH NATIONAL TENANTS: The property is 100% occupied with a desirable mix of national tenants highlighted by Tractor Supply
- Each of these leases has attractive rent escalations and significant term providing a collective WALT of more than 10 Years
- RECENT COMMITMENT: Tractor Supply is currently paying a below market rent of $3.85 PSF and recently extended its lease by an additional 10 years
- ATTRACTIVE ACQUISITION BASIS: With an asking price of approximately $72 PSF and in-place rents below market levels
- BELOW MARKET RENTS: The rent roll is highlighted by replaceable, below market rents
- NEW POPULATION / ECONOMIC DRIVERS - BLUE OVAL: Ford Motor company recently announced its plan to develop a $5.6 billion dollar manufacturing plant
FOR SALE DETAILS
PRICE
-
CAP RATE
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% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Covington Shopping Center
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront
ADD'L SUBTYPES
Convenience Store, Storefront Retail/Office, Department Store
TOTAL BUILDING SIZE
71078
STORIES
1
YEAR BUILT
1991
SPRINKLERS
-
PARKING SPACES
378
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
025F-A-013.00
