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INVESTMENT HIGHLIGHTS
THE ASSET: The Plaza was constructed in 1988 and has been well maintained over the years. The Property is improved by a 40,526 square foot retail center on a large 4.46-acre corner parcel of land. The Property features ten (10) commercial suites and is 100% occupied. The Property is anchored by Dollar General and Advance Auto Parts which occupy 48.82% of the plaza, and is also home to Subway, Children’s Friend (Day Care with an outdoor playground), Community Action (two suites), a Chinese Restaurant, two salons and a boutique. The Property also benefits from excellent signage and four points of access.
RECENT CAPITAL IMPROVEMENTS: The Property has been well maintained and recently received a new façade, and roof work was recently completed. Additionally, Subway just remodeled their store.
OPERATING EXPENSE PROTECTION: 58% of the building has net leases with tenants responsible for reimbursing their pro-rata share of operating expenses, repairs, and maintenance, making it an attractive investment for the passive real estate investor and protecting against rising expenses.
PRIME RETAIL LOCATION: The Property has outstanding frontage, visibility and access and is positioned at the signalized intersection of Petteys/Glenbridge Avenue and Hartford Avenue (US Route 6A), the area’s primary commercial and commuter corridor. The Plaza is 0.5-miles from US Highway 6 and is surrounded by densely populated residential neighborhoods that provide a built-in customer base. Additionally, the Property is less than 3-miles from Downtown Providence and the Central Business District.
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