Address: 4300 Sion Farm, Christiansted, U.S. Virgin Islands, United States 00820
Type: Net-Lease Grocery Store
Cap Rate: 6.00%
Lease Type: Triple-Net (NNN)
Annual Rent: $515,000
Net Operating Income: $515,000
Lease Term Remaining: 14.7 Years
Rental Increases: Every 5 Years
Options: Two (2), Five (5)-Year
Year Built: 2006
Rentable Sq/Ft: 37,407 SF
Rent Sq/Ft: $13.77
Price Sq/Ft: $229
Lot Size: +/- 4.0 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Cost-U-Less located at 4300 Sion Farm in in Christiansted, St. Croix. The site constructed in 2006, consists of roughly 37,407 rentable square feet of building space on estimated 4.0 acre parcel of land.
This Cost-U-Less is subject to a recently extended, 15-year triple-net (NNN) lease, which commenced on 3/26/2007. The current annual rent is $515,000 and is scheduled to increase by six and eight tenths percent (6.80%) in April 2024, and ten percent (10%) every five (5) years thereafter. There are Two (2), Five (5)-year tenant renewal options.
This Cost-U-Less property is located at 4300 Sion Farm in Christiansted, St. Croix. The property is well-positioned in a prominent retail corridor in St. Croix consisting of shopping centers, national and local tenants, resorts, and hotels. Major national and local tenants in the area include: Sears, Kmart, Office Max, Ashley HomeStore, McDonald’s, Carribean Cinemas and many others. Gov Juan F Luis Hospital, a 112-bed, general medical and surgical facility is located less than 1.5 miles from the subject property. This Cost-U-Less property benefits from it’s close proximity to several academic institutions and residential homes. St. Croix Central High School, John H Woodson Junior High School, Charles H. Emmanuel Elementary School, Lew Muckle Elementary School and Alfredo Andrews Elementary School are all located within a 5-mile radius and have a total enrollment exceeding 2,275 students.
The U.S. Virgin Islands has a total population of over 106,000 individuals. There are over 50,000 individuals residing in St. Croix. This Cost-U-Less property benefits from its position just off Melvin H. Evans Highway, a major east-west highway on the island.
St. Croix is an island in the Caribbean Sea, and a county and constituent district of the United States Virgin Islands (USVI), an unincorporated territory of the United States. Christiansted, the capital of the Danish West Indies from 1755 to 1871, is one of two main towns on St. Croix. Located between a busy seaport and green hillsides, the town is well known for it’s many historic yellow buildings. The one square mile town of Christiansted offers a unique combination of a historically important town as well a shopping and dining destination. Christiansted has maintained it’s Danish architectural richness and offers many buildings and structures of interest, like cobblestone walkways, old churches and imposing fort Christiansvaen. Today the island is known for its scuba diving, rum making, marine sanctuary and 18th-century forts.
Broker of Record: Julie San Martin License #2-1130-1B