Shoppes of US 1

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