Rayne Plaza
At-A-Glance
Asking Price: $3,800,000
Net Operating Income: $272,339
Cap Rate: 7.2%
Proforma Net Operating Income: $426,891
Proforma Cap Rate: 11.2%
Opportunity
Grocery Anchored Neighborhood Shopping Center
Proven Location - Grocer Has Been at this Location Since 1984, Over 40+ years
98% Leased Shopping Center - Secure/Safe Investment for Investor with Long-Term Value to be Added due to Below Market Rents
Highlights
- Successful Grocery Anchored Neighborhood Shopping Center - 40+ grocer operating history (Formerly Winn Dixie) with 70% national tenants including corporate lease with Berkshire’s Grocery (dba Super 1), Ace Hardware, Anytime Fitness, H&R Block, Edward Jones
- Near 100% leased center with Stable Cash Flow stream and long term upside potential
- Extremely Low Price Per Foot, and low rents combined with stable cash flow
- Strong Retail Location, directly off Interstate 10 with excellent access & visibility. Situated between large retail corridors servicing the local community - Creating top tier customer draw and strong tenant synergy
- Outstanding freeway access - The Subject Property is located within a mile from Interstate 10 On-Ramps and Off-Ramps
- Strong Daily Needs Area - Subject Property features Super 1 Grocery Store, Ace Hardware, Anytime Fitness & Daily Needs Tenants
- New Waffle House Location (NAP) coming soon located within center adjacent to Super 1 Foods
