| Value-Add opportunity, shadow anchored by Martin’s Super Markets, with nearly 12,000 square feet (32% of the gross leasable area) currently vacant |
| In addition to the vacant space, the property includes a developable padsite, as well as a separately parceled PNC Bank and a Martin’s Fuel Station |
| Priced at a 7.37% CAP on the current, in-place NOI, with the ability to push the cap rate to nearly 10.4% by leasing up the vacant space |
| Given the asking cap rate and available debt, the property will cash flow substantially on day one while an investor executes their value-add strategy |
| 30% of the property’s income comes from Martin’s (a subsidiary of C&S Wholesale Grocers) |
| Offered at an appealing acquisition basis of $133 per square foot |
Mitchell Kiven
Marcus & Millichap
