Menu Close
t r a n s l a t e

Grocery-Anchored Shopping Center | 7.0% Cap Rate

129-145 Commons Drive
Martin, TN 38237
PRICE : $4,415,000
PROPERTY TYPE: Retail
BUILDING SIZE: 37,082 SF
YEAR BUILT: 2013

Highlights

  • Grocery-anchored investment opportunity with 6+ years remaining on E.W. James & Sons’ lease
  • Strong tenant mix with 50% 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 have scheduled base rent increases by end of 2023
  • Bull Realty TN License #259046

Description

Bull 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 6 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 and 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 7.0% cap rate.

Request more information