Loudon Plaza Shopping Center for Sale

Shopping Center for Sale
Catylist Listing ID: 30392576
Property Subtypes: Community Center, Fashion/Specialty, Neighborhood Center, Strip Center
Building Size (RSF): 62,700 SF
Gross Land Area: 10.10 Acres
Sale Price: $4,300,000
Unit Price: $68.58 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Loudon Plaza
Usable Size (USF): 62,700 SF
Sale Terms: Cash to Seller
Cap Rate: 8.4%
Average Occupancy Rate: 95
Last Updated: 5/10/2019

Overview / Comments

Loudon Plaza offers excellent value to an investor looking for a proven, income-producing property with upside potential, in an area whose dynamism is characterized by steady growth in population and personal income. This shopping center is anchored by strong, nationally-recognized retailers, with some smaller businesses in the tenant mix. The property totals 62,700 sf, with 59,900 sf currently leased. It's situated on 10 acres on Highway 72 in Loudon, TN. Existing leases include Farmers Home Furnishings, Goodwill Industries, Advance Auto Parts, and Rite Aid/Walgreen's. Improvements are very well-maintained. Site is 2 miles from Interstate 75, adjacent to a major grocery store, with approximately 15,000 people living within a 5-mile radius.

Current Tenants

Tenant Business Name Goodwill Industries
Industry Type Retail Trade
Is Renting? Yes
SF of Space Occupied 16,672 SF
Tenant Business Name Farmers Home Furnishings
Is Renting? Yes
SF of Space Occupied 17,228 SF
Tenant Business Name Advance Auto
Is Renting? Yes
SF of Space Occupied 6,400 SF
Tenant Business Name Pizza Hut
Is Renting? Yes
SF of Space Occupied 1,400 SF
Tenant Business Name China King
Is Renting? Yes
SF of Space Occupied 1,400 SF
Tenant Business Name Anytime Fitness
Is Renting? Yes
SF of Space Occupied 7,200 SF
Tenant Business Name Walgreen/Rite Aid
Is Renting? Yes
SF of Space Occupied 9,600 SF

Additional Details

Nearest MSA: Knoxville
County: Loudon
Taxing Authority: Loudon Co., TN
Tax ID/APN: 053048 05400
Zoning: C2
Retail Clientele: General, Family, Other
Property Visibility: Excellent
Largest Nearby Street: TN State Route 72 and US HWY 11
Highway Access: Property is located on TN SR 72, and is approximately 2,000 feet from the intersection of SR 72 and US HWY 11
Airports: McGhee Tyson Airport - 40 minutes
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Average
Roof Type: Flat
Construction/Siding: Block, Brick, Stucco
Parking Type: Surface
Total Parking Spaces: 219
Zoning Description: C-2, HIGHWAY BUSINESS DISTRICT. The purpose of this district is to provide for highway-oriented commercial uses. Within the C-2, Highway Business District, as shown on the Zoning Map of Loudon, Tennessee.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 9,534 15,227
Median Age: 40.9 42.79
Households: 3,677 5,929

Contact

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