Harrison Retail Center | 4% Seller Financing
5,807 SF | 100% Leased | Retail Building | Butte, MT 59701 | $1,668,000 ($287/SF) | 6.25% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $1,668,000
- Property Type
-
Retail
- Square Feet
- 5,807 SF
- Price / Square Foot
- $287
Listing Contacts
Clayton Brown
Verified Profile
Andrew Chambers
Verified Profile
Ruthanne Loar
Verified Profile
- Property Info
Property Overview
Marcus & Millichap’s Brown Retail Group has been exclusively selected to market for sale Harrison Retail Center, a fully occupied shadow anchored NNN retail center located in Butte, MT. The Property is currently occupied with a diverse tenant mix including Spectrum, GameStrop and Sally Beauty. All of the tenants currently operate on strong corporate guaranteed NNN leases, allowing for reimbursement of nearly all expenses and providing a hedge against rising operating expenses. GameStop recently executed their option to extend early for another two years with one more option to extend. The Property features attractive seller financing at a 4% interest rate, a rate that is aggressively more favorable than current bank offered interest rates. The Property was renovated in 2021 with over $100,000 in capital improvements including a new roof, exterior paint, new fence, parking lot lights, and more. The Property features a drive-thru lane that's not currently being utilized, opening up the potential for a future QSR, pharmacy or bank tenant. Located just off of Highway 15/90 and across the street from Butte Plaza Mall, the only regional mall in the city, the Property is shadow anchored by national tenants such as: JoAnn Fabrics, Wendy's, Walmart, Goodwill, Petco, Starbucks, and more. Within a 3-mile radius, the population has grown over 5.5% since 2010 and is projected to increase by another 2% in the next 5 years.
Property Details
- Class
- B
- Year Built
- 2008
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 31,799 SF
Highlights
- Fully Occupied Retail Center with Diverse Tenant Mix
- Attractive 4% Seller Financing Available | 9.62% Cash/Cash
- Recent Property Renovations
- Recent Lease Extensions / Strong Corporate Guarantees
- Desirable Drive-Thru Feature
- Located in Dominant Retail Trade Area
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