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Salem Shopping Center 103 Baldridge Rd 27,500 SF 100% Leased Retail Building Salem, IL 62881 $5,922,191 CAD ($215.35 CAD/SF) 8.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 27,500-Square-Foot, Multi-Tenant Retail Center
- 100% Leased | 100% of the Gross Leasable Area has Triple-Net Leases
- Shadow-Anchored by Walmart Supercenter
- Anchored by Dollar Tree | Complementary Tenant Mix of National and Local Retailers that are Largely Internet Resistant
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the opportunity to acquire a 27,500-square-foot, multi-tenant retail center located in Salem, Illinois. Salem Shopping Center is 100 percent leased, and 100 percent of the gross leasable area has triple-net leases. Anchored by Dollar Tree, tenants consist of Dab City Tobacco & Vape, AT&T Wireless, El Rancherito Mexican Cuisine, CATO, Internet Gaming Cafe, Zen Nails & Spa, and World Finance Corporation. Additional income is provided by an ATM lease with Marion County Savings Bank. Salem Shopping Center was constructed in 2007 and is situated on a 3.33-acre parcel.
Shadow-anchored by Walmart Supercenter, Salem Shopping Center is located on Baldridge Lane, off Highway 50 (West Main Street) near the intersection with Interstate 57. Traffic counts in front of the property exceed 15,645 vehicles per day. Neighboring national and regional retailers including KFC, Arby’s, Applebee’s Grill + Bar, Denny’s, Wendy’s, McDonalds’s, Taco Bell, Domino’s Pizza, Dollar General, CVS, Verizon Wireless, and others.
Shadow-anchored by Walmart Supercenter, Salem Shopping Center is located on Baldridge Lane, off Highway 50 (West Main Street) near the intersection with Interstate 57. Traffic counts in front of the property exceed 15,645 vehicles per day. Neighboring national and regional retailers including KFC, Arby’s, Applebee’s Grill + Bar, Denny’s, Wendy’s, McDonalds’s, Taco Bell, Domino’s Pizza, Dollar General, CVS, Verizon Wireless, and others.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
27,500 SF
Building Class
C
Year Built
2007
Price
$5,922,191 CAD
Price Per SF
$215.35 CAD
Cap Rate
8.75%
NOI
$518,188 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
3.33 AC
Frontage
278’ on Baldridge Lane
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1109000069 | Improvements Assessment | $1,382,858 CAD |
| Land Assessment | $101,315 CAD | Total Assessment | $1,484,173 CAD |
PROPERTY TAXES
Parcel Number
1109000069
Land Assessment
$101,315 CAD
Improvements Assessment
$1,382,858 CAD
Total Assessment
$1,484,173 CAD
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Salem Shopping Center | 103 Baldridge Rd
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