Grocery-Anchored Shopping Center | 7.4% Cap Rate

For Sale

129-145 Commons Drive , Martin, TN 38237

This Martin property for sale is located at 129-145 Commons Drive . The current listed sale price for Grocery-Anchored Shopping Center | 7.4% Cap Rate is $4,415,000.

Contacts

broker

Will Young

Bull Realty

(404) 876-1640

Property Details

  • Property Type Retail - Strip
  • Property Size 37,082 SF
  • Property Tenancy Multi-Tenant
  • Year Built 2013
  • Date Updated Mar 27, 2024
Martin, TNBull Realty is pleased to present the opportunity to acquire University Commons; a ±37,082 square foot grocery anchored shopping center ideally located in Martin, TN. The property is 100% occupied with a strong mix of national and regional credit tenants. The anchor tenant, E.W. James & Sons has over 5 years remaining on their lease and the weighted average lease term remaining for the center is over 4 years. University Commons is located directly adjacent to The University of Tennessee at Martin, which has a student population of over 6,700. The property is positioned near many other national brands including Walmart, CVS, T-Mobile, Advance Auto Parts, and Burkes Outlet. Excellent monument signage provides maximum visibility along Skyhawk Parkway with quick highway access and cross easements to nearby retailers. The property is also only a 15-minute drive from Union City, where E.W. James & Sons is headquartered, with a population of 13,923 in a 5-mile radius. Built in 2013, the property has limited capital improvements required in the near future. Dollar Tree and Factory Connection just renewed for 5 years and all of the leases provide for scheduled rent increases. all tenants have a scheduled base rent increase by the end of 2023. University Commons is available for $4,415,000 which delivers it to market at a 7.4% cap rate.

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Highlights

  • Grocery-anchored investment opportunity with 5 years remaining on E.W. James & Sons’ lease
  • Strong tenant mix with 88.8% of the center occupied by national credit tenants and all tenants have NNN leases
  • Constructed in 2013 with limited capital improvements required in the near future
  • Located directly adjacent to University of Tennessee at Martin with a student population over 6,700
  • All tenants with options exercised their right to renew
  • Bull Realty TN License #259046

Attachments

Getting around

  • 34/100

    Walk Score ®

  • 46/100

    Bike Score ®

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Location

  • City Martin, TN
  • Zip Code 38237

Points of Interest

  • Casey's General Store

    0.17 miles

  • Exxon

    0.33 miles

  • Shell

    0.38 miles

  • Shell

    0.79 miles

  • Murphy USA

    0.87 miles

  • 3 J's Food Mart

    1.27 miles

  • Huck's Food & Fuel

    1.57 miles

  • Shell

    9.59 miles

  • Volunteer

    9.83 miles

  • Greenball Corporation Parking Lot

    2.13 miles

  • Pizza Hut

    0.05 miles

  • Little Caesars

    0.06 miles

  • Huddle House

    0.11 miles

  • Arby's

    0.12 miles

  • Zaxby's

    0.16 miles

  • Los Portales

    0.28 miles

  • Subway

    0.30 miles

  • Dragon Buffet

    0.31 miles

  • Yamato Japanese Steak House

    0.34 miles

  • McDonald's

    0.35 miles

  • EW James

    0.04 miles

  • University Plaza

    0.35 miles

  • Ruler Foods

    0.40 miles

  • Walmart Supercenter

    0.96 miles

  • Price Less Foods

    1.18 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Will Young

Bull Realty

(404) 876-1640