Salem Shopping Center | 103 Baldridge Rd
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Salem Shopping Center 103 Baldridge Rd
27,500 SF 100% Leased Retail Building Salem, IL 62881 $6,452,527 CAD ($235 CAD/SF) 8.25% Cap Rate
Investment Highlights
- Shadow-Anchored by Walmart Supercenter
- Approximately 43% of the Gross Leasable Area have Occupied the Center Since Origination, 16+ Years
- Anchored by Dollar Tree | Complementary Tenant Mix of National and Local Retailers that are Largely Internet Resistant
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire a 27,500-square-foot, multi-tenant retail center located in Salem, Illinois. Salem Shopping Center is 100 percent leased, and 100 percent of the gross leasable area has triple-net leases. Anchored by Dollar Tree, tenants consist of Dab City Tobacco & Vape, AT&T Wireless, El Rancherito Mexican Cuisine, CATO, Internet Gaming Cafe, Zen Nails & Spa, and World Finance Corporation. Additional income is provided by an ATM lease with Marion County Savings Bank. Salem Shopping Center was constructed in 2007 and is situated on a 3.33-acre parcel.
Shadow-anchored by Walmart Supercenter, Salem Shopping Center is located on Baldridge Lane, off Highway 50 (West Main Street) near the intersection with Interstate 57. Traffic counts in front of the property exceed 15,645 vehicles per day. Neighboring national and regional retailers including KFC, Arby’s, Applebee’s Grill + Bar, Denny’s, Wendy’s, McDonalds’s, Taco Bell, Domino’s Pizza, Dollar General, CVS, Verizon Wireless, and others.
Shadow-anchored by Walmart Supercenter, Salem Shopping Center is located on Baldridge Lane, off Highway 50 (West Main Street) near the intersection with Interstate 57. Traffic counts in front of the property exceed 15,645 vehicles per day. Neighboring national and regional retailers including KFC, Arby’s, Applebee’s Grill + Bar, Denny’s, Wendy’s, McDonalds’s, Taco Bell, Domino’s Pizza, Dollar General, CVS, Verizon Wireless, and others.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
27,500 SF
Building Class
C
Year Built
2007
Price
$6,452,527 CAD
Price Per SF
$235 CAD
Cap Rate
8.25%
NOI
$532,581 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
3.33 AC
Parking
150 Spaces (5.45 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 1109000069 | Improvements Assessment | $1,321,550 CAD |
| Land Assessment | $175,790 CAD | Total Assessment | $1,497,340 CAD |
PROPERTY TAXES
Parcel Number
1109000069
Land Assessment
$175,790 CAD
Improvements Assessment
$1,321,550 CAD
Total Assessment
$1,497,340 CAD
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Salem Shopping Center | 103 Baldridge Rd
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