Investment - Walmart Anchored Retail Strip

Shopping Center for Sale
Catylist Listing ID: 30364424
Property Subtypes: Community Center, Neighborhood Center, Strip Center
Building Size (RSF): 17,691 SF
Gross Building Area: See Agent
Gross Land Area: 1.79 Acres
Sale Price: $3,148,000
Unit Price: $177.94 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.12%
Last Updated: 1/16/2019

Overview / Comments

This exclusive sale of a well-maintained 17,691 SF Retail Strip Center located in
front of Walmart with excellent visibility along Route 34.

This center is part of a regional shopping center that services the City of Plano (pop. 10,856) & the City of Sandwich (pop. 7,421). This is a regional draw for other rural towns and the surrounding population, including Yorkville (pop. 19,388).

This is being sold by the original developer who has maintained the property at the highest level. The center is all block and brick with large plaza-like front sidewalks.

Tenants are a mixture of national and local credit: Gamestop, Title Max, Great Clips, Verizon, Snap Fitness, Lee Nails, Patrona Grille and Shelby's.

There are 74 Parking spaces for the center and cross access with the other outlots and the Walmart.

The Investment is being offered at an 8.12% Cap Rate on actual NOI with 2 built out vacancies that turn this into a safe value-add play providing for a 9.5% Proforma Cap Rate.

One vacancy is a built out sandwich shop and the other is a turn-key vanilla box with flooring.

Additional Details

Nearest MSA: Chicago-Naperville-Elgin
County: Kendall

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,280 17,921 28,093
Median Age: 29.76 33.36 36.17
Households: 375 6,122 9,912
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