Value-Add Multi-Tenant Retail Offered at $3,750,000

MW Commercial Realty is pleased to offer Union Village Shopping Center, located at 1008 W Roosevelt Blvd in Monroe, NC. This 20,000-square-foot retail property is fully occupied by 9 tenants across 11 units. Offered at $3,750,000, this investment provides stable income with the potential for immediate value-add opportunities. Beginning December 1, 2024 the annual gross scheduled rent is $280,704.00. One of the key advantages of Union Village is the shorter lease terms, which allow for rental adjustments in line with market rates, giving an investor the chance to add significant value. Recent renovations, including a new roof and gutters in 2023, the replacement of several HVAC units and a fresh coat of paint in 2024, mean that the property is in excellent condition and ready for continued performance. Strategically positioned along busy Highway 74, the shopping center benefits from excellent visibility and traffic flow, bolstered by shadow tenants such as Office Max and Tractor Supply. This well-maintained, income-generating asset presents an ideal opportunity for an investor to capitalize on its current cash flow while implementing rent increases and potential improvements for future value growth.

Union Village is located in Union County, a rapidly growing segment of the Charlotte MSA. Situated on Highway 74, the center is approximately 20 miles southeast of the Charlotte CBD. Highway 74 is the main thoroughfare in Monroe and directly connects Monroe with Charlotte. The property is also located in close proximity of Interstate 485 and the Monroe Bypass.