Marketing Description
Furman Capital Advisors is pleased to offer the opportunity to purchase a fee simple interest in Ashcroft Commons in Reidsville, NC.
Investment Highlights
Below Market Rental Rates: Market retail lease rates are trending above the property’s average of $8.94/SF. The most recent lease at the property was executed at $12.00/SF.
Attractive Upside Potential: Four tenants, accounting for 7,782 SF, have expirations scheduled through late 2022 which would allow a buyer to negotiate new lease rates to current market aggregate of $12.00/SF providing an opportunity to significantly increase gross income.
Ideal Retail Location: Located along the perimeter of Reidsville’s highest density residential neighborhood and in close proximity to Reidsville Senior High School. Surrounding tenants in the area include Lowe’s Foods, Food Lion and Tractor Supply. The property’s location at the intersection of NC-87 and US-158 allows for convenient access to downtown Reidsville as well as additional markets such as the Triad, Eden, and Danville.
Excellent Visibility & High Volume Traffic: Approximately 525 ft. of road frontage along one of Reidsville’s most heavily trafficked thoroughfares exposing the property to ±14,500 VPD.