Property Offering Presented By: Bette Gallo Prudential Gallo, REALTORS 37230 Rehoboth Avenue Ext. Rehoboth Beach, DE 19971 302.227.6101 (office) 800.321.2268 (toll free) 302.227.6509 (fax) bette@prugallo.com Property Offering Summary: Shopping Center on Route 113. 8.44 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
Property Description Sale of: with all improvements Tax Parcel Description: 233 10.00 37.00 Building/Complex Name: Savannah Square Lot Size: 8.44 +/- 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
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
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 $7,455.92 per month) 3,000 sq ft (rent of $3,016.00 per month) 1,715 sq ft (rent of $1,429.17 per month) 1,715 sq ft (rent of$1,715.00 per month) 1,715 sq ft (rent of $2,286.67 per month) 1,715 sq ft (rent of $1,572.08 per month) 1,570 sq ft (rent of $1,831.67 per month) 1,570 sq ft (rent of $2,093.33 per month) Total current monthly rent of $21,399.84 48,375sf of space @ $12/sf = $580,500 Triple Net 9%CAP 48,375sf of space @ $15/sf = $725,625 Triple Net 11% CAP
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Artist s Rendering