Investment Opportunity for Sale

Shopping Center for Sale
Sale Pending
Also listed as Retail-Commercial
Catylist Listing ID: 30410570
Property Subtypes: Strip Center
Status: Pending
Building Size (RSF): 39,816 SF
Sale Price: $7,400,000
Unit Price: $185.85 PSF
Property Use Type: Investment
Building Name: Heritage Commons
Sale Terms: Cash to Seller
Cap Rate: 7.16%
Average Occupancy Rate: 84
Last Updated: 9/5/2019

Overview / Comments

Retail Strip Center Investment For Sale. Property consists of two buildings with a total of 39,816 square feet. Tenants include Tokyo & Saigon, Hertz, Jubilations, Edward Jones, Gel Nails and Spa, Beara Irish Brewing Co., Weight Watchers, Wake Up Pretty, LA Beatz Dance Company, Miracle Ear, Smokeshow BBQ, One Main Financial, Standard Vapor and the Beach Plum.

Current Tenants

Tenant Business Name Weight Watchers
SF of Space Occupied 1,520 SF
Tenant Business Name Miracle Ear
SF of Space Occupied 1,520 SF
Tenant Business Name Hertz
SF of Space Occupied 1,520 SF
Tenant Business Name OneMain Financial
SF of Space Occupied 1,520 SF
Tenant Business Name Edward Jones
SF of Space Occupied 1,520 SF
Tenant Business Name International Groceries
Tenant Business Name Standard Vapor
SF of Space Occupied 1,125 SF
Tenant Business Name Beach Plum
SF of Space Occupied 3,300 SF
Tenant Business Name LA Beatz
SF of Space Occupied 6,003 SF
Tenant Business Name Smokeshow BBQ
SF of Space Occupied 2,000 SF
Tenant Business Name Gel Nail and Spa
SF of Space Occupied 2,919 SF
Tenant Business Name Jubilation
SF of Space Occupied 2,740 SF
Tenant Business Name Tokyo & Saigon
SF of Space Occupied 4,560 SF
Tenant Business Name Wake Up Pretty
SF of Space Occupied 1,040 SF
Tenant Business Name Beara Irish Brewing
SF of Space Occupied 1,520 SF

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Submarket/Township: Portsmouth
Submarket Type: Central Business District
Tax ID/APN: PORT-M0285-B0002-L0000
Market Type: Medium
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Located Between: Corner of Lafayette Road and Heritage Avenuie
Side of Street: West
Property Visibility: Excellent
Largest Nearby Street: Lafayette Road (US Route 1)
Feet of Frontage: 762
Traffic/Vehicle Count: 21,000
Highway Access: From I-95 to Exit 5; South on Route One Bypass South to Route One; head south for approximately 2 miles, property is on the right.
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Excellent
Year Built: 1990
Year Renovated: 2009
Roof Type: Flat
Construction/Siding: Steel Frame
Parking Ratio: 4 (per 1000 SF)
Parking Type: Surface
Parking Description: Ample onsite parking
Total Parking Spaces: 162
Heat Type: Natural Gas
Heat Source: Ceiling Units
Air Conditioning: Package Unit
Zoning Description: Gateway
Lot Frontage: 1025
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,705 19,703 39,351
Median Age: 37.37 43.4 42.85
Households: 1,770 8,690 17,840


Photograph of Listing Agent

Andy Fleisher, CCIM

NAI Norwood Group NECPE Member
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