311 Sagamore Parkway
Property Description
Property Snapshot
- A 98,534 SF shopping center anchored by Dollar Tree and co-anchored by Bealls, with Home Depot serving as a shadow anchor. The property generates a stable contractual income stream supported by a diverse tenant roster with well-staggered lease expirations, resulting in a weighted average lease term (WALT) of 6.5 years.
- No single tenant accounts for more than 23% of total in-place revenue. Dollar Tree, an investment-grade national retailer, is the center’s largest income contributor with a lease expiration in 2036. Bealls, the co-anchor, delivers a strong and consistent traffic draw with a lease term extending through 2034.
- Future lease-up of the 37,814 SF of the remaining vacant big-box and smaller retail spaces will further diversify the income stream and offer significant upside potential.
- Highly visible corner location on the signalized intersection of Sagamore and South Street.
- Additional traffic light at entrance on Sagamore Pkwy N.
- Location benefits from strong retail synergy, including The Target, Lowe’s, an IMAX theater, and multiple national restaurants.
- Multiple access points and two pylon signs.
Key Property Information
| Listing Status: | Sold |
|---|---|
| Listing Type: | Distressed sale |
| Price: | $5,650,000 |
| Building Size: | 98,534 Sq ft |
| Opportunity Zone: | No |
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