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JOHN B DENNIS HWY S 1328 F
KINGSPORT, TN 37660
Asking Price
$2.40M
Cap Rate
8%
Asset Type
Shopping Center Retail
Class
Class B
What's Special
Grocery Anchored | Tennessee Tri-Cities <ul><li>Opportunity to acquire a fully stabilized 33,800 square-foot Grocery-Anchored center </li><li>Anchored by Price-Less Foods with a 33+ year Operating History </li><li>Lack of Grocery Competition in the submarket</li><li>Price Less ranks # 1 statewide among IGA stores with 374.9 thousand annual customer visits </li><li>Healthy weighted average lease term (WALT) of 4.5 years</li><li>Positioned along Route 93 (24,651 VPD) one-half mile from its interchange with I-26 (44,881 VPD) </li>
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NOI
$80,000
Cap Rate
3.33%
DSCR
0.56
Underwater
Cash-on-Cash
-8.68%
Monthly Payment
$11,879.095
Annual Cash Flow
$-62,549.143
