Salem Plaza 1 New London Rd

Investment Highlights

Upside Potential Prominent Signage, Visibility & Drive-Thru Strategic Location Dynamic Anchor Tenant Significant Captial Improvements

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the fee simple interest in Salem Plaza, a multi-tenant retail center located at 1 New London Road in Salem, Connecticut (the ?Property?). Salem Plaza was constructed in 1988 and is improved by a 20,833 square foot center on a large 20.60-acre corner parcel of land. The Property is 94.5% leased and offers upside through the lease-up of the vacant suite, and by bringing some of the below market rents to market rates upon lease renewal or lease rollover. The Property is anchored by Dunkin? with the remainder of the space leased to local retailers and service tenants that serve the needs of the area residents. Salem Plaza is ideally positioned at the intersection of New London Road (CT Route 85) and E Haddam/Norwich Road (CT Route 82), the area?s primary commuter and commercial corridors, providing direct access to major roads and larger cities to the north, south, east and west. Salem Plaza enjoys outstanding visibility and frontage with two (2) points of access and prominent signage. The Property is one of a handful of commercial buildings in the immediate area and serves as the primary shopping destination for residents and commuters. Dunkin?, Subway, Salem Four Corner Package Store, and Statewide Pawn & Armory, are some of the area?s most popular tenants and drive traffic to the plaza. Salem is a rural town located in New London County in southeastern Connecticut and is approximately 10 miles from Norwich, 12 miles from New London, 33 miles from Hartford, 45 miles from New Haven, and 60 miles from Providence, Rhode Island.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Storefront Storefront General Retail Convenience Store General Retail Fast Food General Retail Restaurant Storefront
• Building Size    20,833
• Building Class    C
• Year Built    1988
• Price    2,995,000
• Price Per SF    144
• Cap Rate    7.77
• NOI    232,699
• Percent Leased    88
• Tenancy    Multiple
• Building Height    1 Story
• Building FAR    0.02
• Land Acres    20.60 AC