1008 W Roosevelt Blvd
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1008 W Roosevelt Blvd
20,000 SF 100% Leased Retail Building Monroe, NC 28110 £2,934,188 (£147/SF) 6.77% Net Initial Yield
Investment Highlights
- 92% Occupied
- 9 units
- 20,000 SF Building
- 6.77% cap rate
Executive Summary
MW Commercial Realty is pleased to offer Union Village Shopping Center, located at 1008 W Roosevelt Blvd in Monroe, NC. This 20,000-square-foot retail property is fully occupied by 9 tenants across 11 units. Offered at $3,750,000, this investment provides stable income with the potential for immediate value-add opportunities. Beginning December 1, 2024 the annual gross scheduled rent is $280,704.00.
One of the key advantages of Union Village is the shorter lease terms, which allow for rental adjustments in line with market rates, giving an investor the chance to add significant value. Recent renovations, including a new roof and gutters in 2023, the replacement of several HVAC units and a fresh coat of paint in 2024, mean that the property is in excellent condition and ready for continued performance.
Strategically positioned along busy Highway 74, the shopping center benefits from excellent visibility and traffic flow, bolstered by shadow tenants such as Office Max and Tractor Supply. This well-maintained, income-generating asset presents an ideal opportunity for an investor to capitalize on its current cash flow while implementing rent increases and potential improvements for future value growth.
One of the key advantages of Union Village is the shorter lease terms, which allow for rental adjustments in line with market rates, giving an investor the chance to add significant value. Recent renovations, including a new roof and gutters in 2023, the replacement of several HVAC units and a fresh coat of paint in 2024, mean that the property is in excellent condition and ready for continued performance.
Strategically positioned along busy Highway 74, the shopping center benefits from excellent visibility and traffic flow, bolstered by shadow tenants such as Office Max and Tractor Supply. This well-maintained, income-generating asset presents an ideal opportunity for an investor to capitalize on its current cash flow while implementing rent increases and potential improvements for future value growth.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Retail
Building Size
20,000 SF
Building Class
B
Year Built/Renovated
1970/1997
Price
£2,934,188
Price Per SF
£147
Net Initial Yield
6.77%
NOI
£198,531
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.19
Lot Size
2.40 AC
Zoning
GB - General Business allows for a variety of retail and office uses.
Parking
55 Spaces (2.75 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 09-186-014 | Improvements Assessment | £1,050,048 |
| Land Assessment | £159,620 | Total Assessment | £1,209,668 |
PROPERTY TAXES
Parcel Number
09-186-014
Land Assessment
£159,620
Improvements Assessment
£1,050,048
Total Assessment
£1,209,668
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1008 W Roosevelt Blvd
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