Exclusive Property Offering
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1 Property Offering Presented By: Bette Gallo Prudential Gallo, REALTORS Rehoboth Avenue Ext. Rehoboth Beach, DE (office) (toll free) (fax) Property Offering Summary: Shopping Center on Route acres improved by four commercial buildings consisting of 48,375 square feet. Currently about 50% leased. Possibility of two pad sites at 3,750 sf each Located near Lowe s, BJ s Wholesale Club and Royal Farms
2 Property Description Sale of: with all improvements Tax Parcel Description: Building/Complex Name: Savannah Square Lot Size: /- acres Lot Description: Cleared Zoning: C-1 Parking Spaces: 234 Road Frontage: 489 along Route 113 Utilities: Water: Central from Town of Dagsboro Sewer: Central from Town of Dagsboro Electric: Delmarva Power Gas/Propane: Available Site Improvements: Paved parking, pole signage, lanscaping
3 Property Improvements Gross Building Square Footage: 48,375 Office/Retail Square Footage: 48,375 Warehouse Square Footage: N/A Year Built: 2008 Construction Type: Poured concrete walls Exterior Material: Low maintenance Dryvit Roofing Material: Asphalt Foundation: Concrete Slab Heating: Individual HVAC per unit (Heat Pumps) Cooling: Individual HVAC per unit (Heat Pumps) Flooring: Concrete Security/Fire Protection: Yes Handicap Accessibility: Yes Number of Stories: 1 Elevators: N/A Restrooms: 2 per unit
4 Financial Information Gross Annual Rental Income: Number of Units: Property Expenses (annual): Real Estate Taxes: Property Insurance: Common Area Maintenance: Utilities: Administration: Currently at $236,798 (approximately 46% of space leased) 15 total units Sussex County $16,280, Town of Dagsboro $14,744 $9,700 estimated ($2.00/sf) $9,200 estimated $7,000 estimated Current Rent Roll Dollar General Discount Liquors WeR Wireless McComrick Insurance Pepper Subs All Out Sports Wang s Kitchen JC Nails Analysis 9,418 sq ft (rent of $7, per month) 3,000 sq ft (rent of $3, per month) 1,715 sq ft (rent of $1, per month) 1,715 sq ft (rent of$1, per month) 1,715 sq ft (rent of $2, per month) 1,715 sq ft (rent of $1, per month) 1,570 sq ft (rent of $1, per month) 1,570 sq ft (rent of $2, per month) Total current monthly rent of $21, ,375sf of $12/sf = $580,500 Triple Net 9%CAP 48,375sf of $15/sf = $725,625 Triple Net 11% CAP
5 Additional Photos
6 Artist s Rendering
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