Westwood Shopping Center

Back to your search results

Westwood Shopping Center

5825 Brockway Rd Saginaw MI Saginaw County

Sales Price: $5,400,000

Cap Rate: 8.75%

Contact Person(s): Daniel Kukes & Kevin Baker & Louis Ciotti

Description:

CLICK TO VIEW DRONE VIDEO

Dominant Market Location
Westwood Shopping Center is a Walmart Shadow Center. The next closest Walmart is over five miles away on Bay Road.

Ability to Add Value
– The center has 6,000 SF in vacancies that a new owner can lease and add to the rent roll. Of the vacancies, three units totaling 4,800 SF are adjacent to each other and can be combined.

Strong Operating History
– There are nine tenants (Dollar Tree, Rent-A-Center, Payless ShoeSource, CATO, GNC, Sally Beauty, BoRics, Check ‘N Go, and H&R Block) that have been operating at Westwood since the late 1990’s and early 2000’s.
– These tenants represent over 27,000 SF of the shopping center, or 55% of the gross leasable square feet and 62% of the gross income for the shopping center.

State Street Commercial Corridor Location
– State Street is a major commercial thoroughfare with over 1.1 M SF in retail real estate in the immediate trade area.
– Immediate trade area tenants include: Walmart, Menards, ALDI, Kroger, Planet Fitness, Hallmark, CVS, Ace Hardware, Ollie’s Bargain Outlet, AutoZone and more.

Attractive Leverage Options Available
– There are a multitude of financing options available to qualified borrowers. The property is being offered “free & clear” which will allow the buyer to enhance their yield at historically low interest rates and terms. Please inquire with Broker for more specific details.

Lot Size: approx. 7.50 acres

Gross Leasable Area: 50,150 SF

Tenant Roster: Dollar Tree, Shogun, Rent-A-Center, CATO

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 8,806 54,207 92,080
Avg. HH Income: $57,158 $66,653 $59,859

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.