FINANCIAL HIGHLIGHTS
RECOVER CONTRACTED NNN REIMBURSEMENTS
The Property is currently priced at a 5.65% cap rate based on actual CAM reimbursements of $26,805 (in-line only), which is substantially below what
is contractually owed under the leases. With improved property management and proper enforcement of lease terms, a new owner could recover the
full CAM reimbursements—boosting NOI by approximately $175,000.
MARK-TO-MARKET RENT POTENTIAL
With 22 of the 24 tenants lacking renewal options and a WALT of just 2.1 years, Florence Plaza offers near-term flexibility to increase below-market
rents. Strategic leasing efforts and repositioning of key spaces can unlock immediate rental upside and improve the quality of the tenant mix.
REPOSITION AND RE-TENANT THE ASSET
With ±900 feet of frontage along two of the area’s most trafficked corridors, the Property offers significant physical and operational upside. Investors
can reconfigure storefronts, expand GLA, and attract stronger national or regional tenants, ultimately driving NOI growth and long-term asset value.
CREDIT-TENANT PAD INCOME - BURGER KING PARCEL
Included in the offering is a freestanding Burger King drive-thru on a separate legal parcel, operating under a new 10-year lease. This corporatebacked,
single-tenant asset contributes stable, long-term income to the overall portfolio and enhances the blended yield profile. The pad also
provides additional collateral value and optional liquidity.
BREAK-UP SALE STRATEGY FOR MAXIMIZED EXIT VALUE
With the Burger King on its own parcel and featuring a long-term net lease, the asset is well positioned for a future break-up sale. A buyer could elect
to sell the pad separately at a lower cap rate to a 1031 exchange buyer or net lease investor—unlocking premium pricing while retaining the upside
of the core strip center.