Becuase there are so many variables including building age, location of property and even the location within the strip center, co-tenancy, lease term, amount of tenant improvements provided, CAM charges and others, it is impossible to provide you with an accurate answer that will help you accomplish your goals. I would suggest that you contact a local retail commercial real estate agent or appraiser. The services of a local commercial real estate agent will generally not cost you anything and will ensure that you are getting the best deal for your needs. Make sure that you ask them what other retail deals they have done to confirm that they understand the retail market. Try searching the internet for commercial real estate agents, Loopnet, or CCIM.com or ask for a referral from a local attorney, accountant, appraiser or other professional that has experience with a good commercial real estate agent.
Alterra Real Estate Advisors
May 14, 2010