DEALS
Great Falls Plaza | 1200 Jullian R Allsbrook Highway, Roanoke Rapids, NC 27870
Highlights
- Food Lion performs very well with 2020 sales of $17,334,016 ($544 PSF) featuring a healthy Rent/Sales ratio of 0.91% and a 18.26% increase from 2019 ($14,657,440 – $460 PSF.)
- The 120,624 SF grocery anchored property is 90% occupied by a strong line up of national and regional tenants including Food Lion, Roses and Its Fashion.
- Strong Upside potential through leasing up 11,410 SF vacancy.
- Roses performs so well that in 2015 they agreed to raise their base rent in order to lower their percentage rent and in 2020 they paid percentage rent in excess of $47,000.
- E-Commerce resistant tenant mix.
Deal Points
- Square Feet: 120,624
- Cap Rate: 8.25%
- Year Built: 1990
- NOI: $535,141
- Occupancy: 90.54%
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