Augusta Square Shopping Center, Newark, Delaware
681-699 E. Chestnut Hill Rd
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12 AERIAL FAR – AUGUSTA SQUARE (NEWARK, DE) JPG
12 AERIAL FAR – AUGUSTA SQUARE (NEWARK, DE) JPG
13 AERIAL NEAR – AUGUSTA SQUARE (NEWARK, DE) JPG
13 AERIAL NEAR – AUGUSTA SQUARE (NEWARK, DE) JPG
14 AERIAL NEAREST – AUGUSTA SQUARE (NEWARK, DE) JPG
14 AERIAL NEAREST – AUGUSTA SQUARE (NEWARK, DE) JPG
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Property Information
| Price: | $5,439,938 |
| Cap Rate: | 6.55% |
| NOI: | $356,316 |
| Lease Term: | 10+ Years |
| Lease Type: | NNN |
| Building Size: | Approximately 14,000 Square Feet |
| Year Built: | 1983/1996 |
| Status: | Recent Price Drop! |
| Lead Broker Information: |
Dylan O’Hara dylan@realcapitalinvestments.com 918-208-1565 |
Property Description
Investment Highlights
- Fully Occupied Multi-Tenant Retail Center with NNN Leases – Stable Cash Flow Asset – Zero Landlord Responsibilities – Multiple Options to Renew
- Rental Increases Throughout the Initial Terms and Option Periods, Providing a Strong Hedge Against Inflation
- Anchored by a Globally Diversified, Powerhouse Tenant – 7-Eleven is the Premier Brand and Leader in the Convenience Store/Gas Station Industry with Over 78,000 Locations in 19 Countries, Making it the World’s Largest Convenience Retailer
- Intrinsic Value – Large Format Strip Center at 14,000 Square Feet on a Massive 5.14 Acre Parcel Containing 80 Parking Spaces, Providing Each Tenant with the Ability to Effectively Handle High Customer Volume
- High Traffic Location – More Than 30,000 Vehicles Per Day on E. Chestnut Hill Rd, Over 19,000 Vehicles Per Day on Salem Church Rd & an Additional 129,788 Vehicles Per Day on the Nearby Delaware Turnpike (I-95)
- Excellent Visibility at a Signalized Intersection – Ingress & Egress for the Property Has It’s Own Traffic Light
- Densely Populated, Infill Location with Excellent Demographics – Over 201,000 People in a 5-Mile Radius with Average Household Income Exceeding $107,000
- Over 23.8 Million Square Feet of Industrial & Office Space and 10.6 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 7,300 Businesses & 78,000 Employees
- Approximately 2.3 Miles from the 1,230 Bed Christiana Care Christiana Hospital with Over $5.63 Billion in Total Patient Revenue I n 2023 and a Staff of More Than 1,500 Healthcare Professionals
- Approximately 1.4 Miles from Christiana High School with More Than 1,250 Students Currently Enrolled
- Approximately 3.6 Miles from The University of Delaware with Over 24,000 Students Enrolled and More Than 4,800 Faculty Members & Staff
- Approximately 2.8-Miles from The U.S. Army Reserve Base Newark – The Brand-New 42,000 Square Feet Facility Opened in Late 2022 and Supports More Than 300 Soldiers & Numerous Staff