About this property
This ten unit neighborhood shopping center includes a 1800 SF convenience store with four gas pumps under a canopy. Currently the center does not have an anchor convenience store operator. The underground storage tanks will need to be upgraded at an estimated cost of $140,000. There are currently five tenants in the shopping center. The above cap rate illustrates the potential value based on stabilized occupancy; based on a purchase price of $699,000 plus the tank upgrade $140,000. We have recently embarked on finding new tenants for the center. The Shoppes of US 1 are located on the east side of US Hwy 1 (Washington Ave.) just 1/2 mile south of State Hwy 50 (CHeney Hwy) in Titusville, Florida.
Financial Summary
Proforma
Scheduled Gross Income
$104,260
Effective Gross Income
$95,781
Operating Expenses
$32,025
Net Operating Income
$63,756
Property details
- Property Type
- Improved property
- Building Type
- Freestanding
- Building Size
- 8,400 sqft
- Land Size
- 0.69 acres
- Sewer
- Municipal
- Water
- Municipal
- Zoning
- Commercial
- Electric
- FPL
- Year Built
- 1988
- Roof
- Piitched/Flat
- Parking
- Adequate
- Lease Type
- 699000
- Construction
- Concrete Block/Stucco
Location
- Address
-
5155 S. Washington Avenue
Titusville, Florida 32780