103 Baldridge Rd - Storefront FOR SALE


Salem, IL 62881
$4,482,509 USD
972-755-5225
103 Baldridge Rd, Salem, IL for Sale
$4,482,509 USD
Storefront - FOR SALE
1/11
null | 8.25% Cap Rate

103 Baldridge Rd
Salem, IL 62881


HIGHLIGHTS

  • Shadow-Anchored by Walmart Supercenter
  • Anchored by Dollar Tree | Complementary Tenant Mix of National and Local Retailers that are Largely Internet Resistant
  • Approximately 43% of the Gross Leasable Area have Occupied the Center Since Origination, 16+ Years

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a 27,500-square-foot, multi-tenant retail center located in Salem, Illinois. Salem Shopping Center is 100 percent leased, and 100 percent of the gross leasable area has triple-net leases. Anchored by Dollar Tree, tenants consist of Dab City Tobacco & Vape, AT&T Wireless, El Rancherito Mexican Cuisine, CATO, Internet Gaming Cafe, Zen Nails & Spa, and World Finance Corporation. Additional income is provided by an ATM lease with Marion County Savings Bank. Salem Shopping Center was constructed in 2007 and is situated on a 3.33-acre parcel. Shadow-anchored by Walmart Supercenter, Salem Shopping Center is located on Baldridge Lane, off Highway 50 (West Main Street) near the intersection with Interstate 57. Traffic counts in front of the property exceed 15,645 vehicles per day. Neighboring national and regional retailers including KFC, Arby’s, Applebee’s Grill + Bar, Denny’s, Wendy’s, McDonalds’s, Taco Bell, Domino’s Pizza, Dollar General, CVS, Verizon Wireless, and others.

FOR SALE DETAILS

PRICE

$4,482,509 USD

PRICE/SF

$163 USD /SF

CAP RATE

8.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Salem Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

150

LAND DETAILS

LAND ACRES

3.33 AC

LAND SF

145,055 SF

ZONING

-

APN/PARCEL ID

1109000069

ASK ABOUT THIS PROPERTY

Philip LevyMarcus & MillichapMore Info
972-755-5225

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Philip LevyMarcus & MillichapMore Info
972-755-5225

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