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Vacant-User

Auction - Former Aaron's - 17K VPD | Sam’s Club & Target Shadow | 14,740 SF

1804 Diers Ave, Grand Island, NE 68803

Listing Price: $100,000

Gross SF
14,740
Rentable SF
14,740
Price/Gross SF
$6.78
Lot Size
1.43 acres
Year Built
1994

Investment Overview

Marcus & Millichap and RI Marketplace are pleased to present a vacant, retail building located at 1804 N. Diers Avenue in Grand Island, Hall County, Nebraska (The “Property”). Located in the main retail hub on US Hwy 281, known as the “Merchandise Mile”, the Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential via repositioning at a significant discount.

Built in 1994, the Property is improved with a one-story, free-standing, single tenant building totaling ±14,740 square feet. The Property is strategically positioned on one parcel totaling ±1.42 Acres or ±62,456 SF of land. The Property was formerly occupied by Aaron’s Furniture on a triple net lease and offers potential owner users/investors the ability to acquire a free-standing retail building with significant value add through lease up at long term market rates (CoStar estimated market rents of $11-14/SF NNN). Zoned “B-2” General Business, this zoning offers favorable flexible zoning allowing for a variety of retail uses via adaptive reuse or repositioning. The Property offers 39 surface parking spaces (1 Space/378 SF) and is easily accessible via one point of egress/ingress.

Grand Island is Nebraska’s largest city outside of the Omaha & Lincoln Metropolitan area; it’s the third largest retail trade center in Nebraska. Grand Island is the economic growth area and the major retail trade area for south central Nebraska and is home to over 52,000 people, 130 restaurants, and 70+ retail stores. This former Aaron’s is located along the west side of N. Diers Avenue which runs north/south along the western portion of the city center, parallel to U.S. Route 281. The Property is located just south of W State Street (±11,612 VPD) and benefits from superior visibility from the heavily trafficked Hwy 281 (±17,894 VPD). Access to the neighborhood from surrounding areas is considered to be excellent due to its close proximity to numerous regional thoroughfares and its location just ±15-minutes from I-80. The Property offers a strategic location directly across from Conestoga Mall, the largest mall between Lincoln, NE and Denver, CO with over 545,000 square feet on 57 acres, and a consistent traffic and demand driver for the growing market of central Nebraska. There are also several national retailers/co-tenants in the immediate area including nearby retailers include Home Depot, Hobby Lobby, Walmart, Kohl’s, Hobby Lobby, Menard’s, HomeGoods, Slumberland Furniture, Dick’s Sporting Goods, Bed Bath & Beyond, Sam’s Club, T.J. Maxx, Burlington, Best Buy, Dillard’s, Petco, Petsense, Joann Fabrics, Harbor Freight Tools, Tractor Supply Co., Super Saver, Hy-Vee, Dollar Tree, Dollar General, Goodwill, and Target (opening in 2025). Additionally, there are several demand drivers located within 5 to 10-minutes from the Property including Central Nebraska Regional Airport; CHI Health St. Francis, a 155-bed hospital facility; and Central Community College - Grand Island with nearly 6k total students. The Property is located in a growing area with hundreds of new housing and commercial developments in close proximity. The Property is positioned in an area that serves ±43,306 people with an AHHI of $81,631 within a 3-mile radius and ±55,467 people with an AHHI of $85,169 within an expanded 5-mile area.

Investment Highlights

  • STARTING BID $100,000 | Sam's Club & Target Shadow | 14,740 SF | AUCTION MAY 13-15, 2024
  • Freestanding Former Aaron's on Large 1.43 Acre Lot Available at a Significant Discount Below Replacement Cost
  • Prime Visibility with 17K VPD on US-281 and Across Street from New-to-Market Target with Projected 2025 Opening Date
  • Neighboring National Retailers: Sam's Club, Walmart, Menards, Planet Fitness, Tractor Supply, Hobby Lobby, Wendy's, and more
  • Attractive Demographics with ±55,476 People and Annual Household Income of ±$85,169 within a 5-Mile Radius
  • Zoned B-2, General Business with a Variety of Commercial and Retail Uses

Exclusively Listed By

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) NE: 20200223

    Nebraska

Vacant-User

Auction - Former Aaron's - 17K VPD | Sam’s Club & Target Shadow | 14,740 SF

Listing Price: $100,000

Gross SF
14,740
Rentable SF
14,740
Price/Gross SF
$6.78
Lot Size
1.43 acres
Year Built
1994

Investment Highlights

  • STARTING BID $100,000 | Sam's Club & Target Shadow | 14,740 SF | AUCTION MAY 13-15, 2024
  • Freestanding Former Aaron's on Large 1.43 Acre Lot Available at a Significant Discount Below Replacement Cost
  • Prime Visibility with 17K VPD on US-281 and Across Street from New-to-Market Target with Projected 2025 Opening Date
  • Neighboring National Retailers: Sam's Club, Walmart, Menards, Planet Fitness, Tractor Supply, Hobby Lobby, Wendy's, and more
  • Attractive Demographics with ±55,476 People and Annual Household Income of ±$85,169 within a 5-Mile Radius
  • Zoned B-2, General Business with a Variety of Commercial and Retail Uses

Investment Overview

Marcus & Millichap and RI Marketplace are pleased to present a vacant, retail building located at 1804 N. Diers Avenue in Grand Island, Hall County, Nebraska (The “Property”). Located in the main retail hub on US Hwy 281, known as the “Merchandise Mile”, the Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential via repositioning at a significant discount. Built in 1994, the Property is improved with a one-story, free-standing, single tenant building totaling ±14,740 square feet. The Property is strategically positioned on one parcel totaling ±1.42 Acres or ±62,456 SF of land. The Property was formerly occupied by Aaron’s Furniture on a triple net lease and offers potential owner users/investors the ability to acquire a free-standing retail building with significant value add through lease up at long term market rates (CoStar estimated market rents of $11-14/SF NNN). Zoned “B-2” General Business, this zoning offers favorable flexible zoning allowing for a variety of retail uses via adaptive reuse or repositioning. The Property offers 39 surface parking spaces (1 Space/378 SF) and is easily accessible via one point of egress/ingress. Grand Island is Nebraska’s largest city outside of the Omaha & Lincoln Metropolitan area; it’s the third largest retail trade center in Nebraska. Grand Island is the economic growth area and the major retail trade area for south central Nebraska and is home to over 52,000 people, 130 restaurants, and 70+ retail stores. This former Aaron’s is located along the west side of N. Diers Avenue which runs north/south along the western portion of the city center, parallel to U.S. Route 281. The Property is located just south of W State Street (±11,612 VPD) and benefits from superior visibility from the heavily trafficked Hwy 281 (±17,894 VPD). Access to the neighborhood from surrounding areas is considered to be excellent due to its close proximity to numerous regional thoroughfares and its location just ±15-minutes from I-80. The Property offers a strategic location directly across from Conestoga Mall, the largest mall between Lincoln, NE and Denver, CO with over 545,000 square feet on 57 acres, and a consistent traffic and demand driver for the growing market of central Nebraska. There are also several national retailers/co-tenants in the immediate area including nearby retailers include Home Depot, Hobby Lobby, Walmart, Kohl’s, Hobby Lobby, Menard’s, HomeGoods, Slumberland Furniture, Dick’s Sporting Goods, Bed Bath & Beyond, Sam’s Club, T.J. Maxx, Burlington, Best Buy, Dillard’s, Petco, Petsense, Joann Fabrics, Harbor Freight Tools, Tractor Supply Co., Super Saver, Hy-Vee, Dollar Tree, Dollar General, Goodwill, and Target (opening in 2025). Additionally, there are several demand drivers located within 5 to 10-minutes from the Property including Central Nebraska Regional Airport; CHI Health St. Francis, a 155-bed hospital facility; and Central Community College - Grand Island with nearly 6k total students. The Property is located in a growing area with hundreds of new housing and commercial developments in close proximity. The Property is positioned in an area that serves ±43,306 people with an AHHI of $81,631 within a 3-mile radius and ±55,467 people with an AHHI of $85,169 within an expanded 5-mile area.

Exclusively Listed By

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): NE: 20200223

    Nebraska

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