Fully-occupied shopping center now available for sale!
Route 66 Plaza is an established 14,876 square foot shopping center comprised of 5 tenants. The center was built in 1985 and occupies 1.57 acres. Route 66 Plaza includes a renovated storefront façade and pylon sign along Watson Road.
This stabilized retail asset represents an ideal 1031 exchange opportunity given the low maintenance construction of the building, NNN lease structures in place, and attractive CAP rate. The existing tenants have an average of 4 years remaining of the lease term. Below-market rents present a value-add opportunity for future ownership.
The property is well positioned on Watson Road with over 23k vehicles per day. The Shrewsbury sub-market has welcomed major retail tenants over the recent years including Walmart Supercenter, Planet Fitness, Edge Fitness, Aldi, and several others. A dense residential population within a 3-mile radius exceeds 136,000 residents with a median household income of $67,026. Route 66 Plaza is located less than 1/4 mile from I-44.
|Unit Number||Square Footage|
|7570||3,000 - Leased|
|7572||2,000 - Leased|
|7574 - 7576||5,000 - Leased|
|7578||2,500 - Leased|
|7580||2,600 - Leased|