2940 Paulena Dr - Storefront FOR SALE


Bristol, VA 24202
$940,000 USD
714-400-6267
2940 Paulena Dr, Bristol, VA for Sale
$940,000 USD
Storefront - FOR SALE
1/13
null | 8% Cap Rate

2940 Paulena Dr
Bristol, VA 24202


HIGHLIGHTS

  • Multi-Tenant Retail Strip Center Portfolio (Available Individually) – 56.9% Occupancy – Opportunistic Returns
  • Strong Tenancy with Spaces Ready for Lease Up – 21,674 Total SF – Infill Retail Corridor
  • Ideal Retail Locations – Interstate-81 Exit (with 55,000 Vehicles Per Day)
  • Across from Walmart Supercenter-Sam’s Club Anchored Power Center– Busy Area
  • Significant Value-Add – Ideal 1031 Exchange Properties with Upside – Average Household Income of $84,196 in the Area
  • Major Retail Traffic Corridor & Strong Demographics 40,135 Residents Within a 5 Mile Radius  

OVERVIEW

Exclusively Listed in association with J. Michael Nidiffer | VA License No. 0225 018202 We are excited to present qualified investors with an exceptional opportunity to acquire a retail portfolio of three (3) strip center properties, available individually, located in Bristol, VA (Kingsport MSA), featuring ideal shopping center sites that include frontage directly on Interstate-81 (55,000 vehicles per day) and locations right next to a Walmart Supercenter-Sam’s Club-anchored power center.    Linden Place Shopping Center includes two tenants, Harper Aesthetics and El Rancho Senor Mexican restaurant, which are successful, regional tenants with proven track records.  The Harper Aesthetics high-networth operator has 7 locations under the Hopkins Medical Association banner and El Rancho Senor operates 5 restaurants in the chain and their new lease includes a personal guaranty.  The Old Bakery Shopping Center features a GSA lease to the Armed Forces Career Center and Space Apes Help & CBD, with a 1,347 vacancy that provides substantial upside as a value-add component.  The inclusion of the third property, the former T-Mobile single-tenant vacant building, allows for opportunistic returns to a retail investor/developer.  This is a rare opportunity to purchase a recently renovated, multi-tenant retail investment portfolio on prime real estate that is 56.9% occupied in a high-demand market, offering investors long-term cash flow and potential for significant returns.

FOR SALE DETAILS

PRICE

$940,000 USD

PRICE/SF

$158 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multi-Tenant Retail Strip - Old Bakery Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Auto Repair, Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

-

APN/PARCEL ID

187-2-4B

ASK ABOUT THIS PROPERTY

Spencer O'DonnellCharter Realty CompanyMore Info
714-400-6267

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Spencer O'DonnellCharter Realty CompanyMore Info
714-400-6267

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