Kroger Anchored Value-Add Center | National Credit Tenants | 9.0% Cap

Shopping Center for Sale
Also listed as Retail-Commercial, Office
Catylist Listing ID: 30564534
Property Subtypes: Community Center, Grocery-Anchored, Neighborhood Center, Net Leased, Power Center, Strip Center
Building Size (RSF): 80,244 SF
Gross Building Area: See Agent
Gross Land Area: 6.44 Acres
Sale Price: $4,705,000
Unit Price: $58.63 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: WEST PARK PLAZA
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Last Updated: 4/1/2020

Overview / Comments


* Add-Value Opportunity & Cap Rate Growth w/ Significant Upside Through Leasing the Remaining Vacant Spaces
* 15% Upside In Leasing Up Remaining Vacant Spaces
* National Credit Tenants
* Kroger Corporate Guarantee: Operating As Ruler Foods (Just Renewed 5 Years)
* Outstanding Frontage & High Visibility Site
* Multiple Easy Points Of Ingress & Egress
* Internet Resistant
* Located within Walking Distance from Eastern Illinois University
* Situated on Major Retail Corridor Surrounded By Numerous National & Regional Retailers
* Nearby I-57 & Coles County Memorial Airport
* Priced Well Below Replacement Cost ($58.63 Price Per SF)
* 9.0% Cap Rate

Additional Details

Nearest MSA: Charleston-Mattoon
County: Coles
Tax ID/APN: 1515326007
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Visibility: Excellent
Largest Nearby Street: Lincoln Ave
Highway Access: I-57
Total Number of Buildings: 2
Property Condition: Excellent
Year Built: 1982

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,345 21,124 24,451
Median Age: 24.86 30.56 30.92
Households: 3,479 7,571 8,975


Photograph of Listing Agent

George Spirrison, CCIM

Adelphia Properties
ICEx Member
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