7-Eleven
Firestone ,
CO
Phenix Salon Suites
Colorado Springs ,
CO
Sold
Hartford Centre
1591 E Sumner Street | Hartford, WI 53027
Price
$4,950,000
Cap Rate: %
Lead Broker
Investment Highlights
- Hartford Centre is an ALDI grocery-anchored shopping center. ALDI makes up 50% of the GLA and 50% of the income of the property. The subject ALDI recently renewed for ten years and plans to invest significant capital into a store renovation this year (2021), proving their commitment to the site.
- Essential and internet proof tenant line up. The center features ALDI Grocery, Dunkin’ (Drive-Thru), Papa Murphy’s, H&R Block, Shopko Tropical Tan, Ritz Nails, and Ichiban Sushi & Steakhouse. All tenants have remained current throughout the pandemic.
- Dunkin' Donuts recently renewed for ten years and has a drive- thru.
- 91% of the tenant line-up exercised a renewal or signed a new long-term lease within the last year.
- The overall weighted average lease term is 7.5 years, and all of the in-place rents are below market. This provides the future owner with a stable and accretive investment opportunity.
- Value-Add component via leasing up the 5,648 SF vacancy.
- Limited Landlord responsibilities, every tenant, except Ritz Nails, is on a NNN lease.
- Premium high-end construction that is aesthetically appealing.
- Free & clear of debt.
Location Highlights
- Excellent accessibility and visibility. Positioned just off of Interstate 41 and located along the major thoroughfare, Highway 60 (E Summer Street). There are over 32,000 combined vehicles per day at the subject property.
- Affluent and growing demographic base.