Warehouse

1000 W 1st Street

1000 W 1st St, McPherson, KS 67460

Listing Price: $1,098,000

Cap Rate
10.00%
Gross SF
41,360
Price/Gross SF
$26.55
Year Built
1970
Rentable SF
41,360

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1000 West 1st Street in McPherson, Kansas. The subject property consists of approximately 41,360 square feet of space and is situated on 4.64 acres of land. The asset features eight grade-level doors, 20+ parking spaces, fenced-in outdoor storage, and metal construction. The property has a good mix of local tenants with staggered lease expirations. The asset also creates an attractive yield for an investor in a very tight barrier to entry market, with zero industrial spaces for lease. McPherson hosts large employers such as Cargill, Pfizer, and Viega LLC. The subject property is located just west of Interstate 135, 40 miles south of Salina, and 60 miles north of Wichita.

Industrial rents in the McPherson - Kansas Market were rising at a 0.4% annual rate during the third quarter of 2020, and have posted an average annual gain of 3.0% over the past three years. Development remains minimal, as nothing has delivered over the past three years, and no projects are currently underway. Vacancies in the metro were somewhat below the 10-year average as of 2020 Q3, but were essentially unchanged over the past four quarters. (CoStar)

Established in 1872, the City of McPherson was described in early transcripts as one of the most flourishing towns in Central Kansas. McPherson continues to thrive in the areas of agriculture, industry and education - attracting residents who contribute to McPhersons overall economic growth and community personality. Nearly 14,000 people currently call McPherson home. (mcpcity.com). McPherson is home to more than 50 companies spanning at least a dozen industries, making this city of 14,000 one of the nations most industrialized communities with a number of industrial, retail, service, education, and healthcare employers. (gomcpherson.com)

Investment Highlights

  • Located Just to the West of I-135
  • McPerson Hosts Large Employers Such as Cargill, Pfizer, Viega LLC
  • This Property Offers Fenced-In Outdoor Storage
  • Tight Barrier to Entry Market with Currently Zero Industrial Spaces for Lease
  • Located 40 Miles South of Salina and 60 Miles North of Wichita

Exclusively Listed By

  • Adam Abushagur

    Senior Managing Director Investments

    (972) 755-5223

    Email Adam

    License(s): TX: 661916

    Dallas

  • Tyler Sharp

    Associate

    Email Tyler

    License(s): IL: 475.177869

    Chicago Downtown

Broker of Record

  • Colby Haugness

    First Vice President Investments

    License(s): KS: 00241410

    Kansas

Financing By

Listing Price: $1,098,000

Cap Rate
10.00%
Gross SF
41,360
Price/Gross SF
$26.55
Year Built
1970
Rentable SF
41,360

Investment Highlights

  • Located Just to the West of I-135
  • McPerson Hosts Large Employers Such as Cargill, Pfizer, Viega LLC
  • This Property Offers Fenced-In Outdoor Storage
  • Tight Barrier to Entry Market with Currently Zero Industrial Spaces for Lease
  • Located 40 Miles South of Salina and 60 Miles North of Wichita

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1000 West 1st Street in McPherson, Kansas. The subject property consists of approximately 41,360 square feet of space and is situated on 4.64 acres of land. The asset features eight grade-level doors, 20+ parking spaces, fenced-in outdoor storage, and metal construction. The property has a good mix of local tenants with staggered lease expirations. The asset also creates an attractive yield for an investor in a very tight barrier to entry market, with zero industrial spaces for lease. McPherson hosts large employers such as Cargill, Pfizer, and Viega LLC. The subject property is located just west of Interstate 135, 40 miles south of Salina, and 60 miles north of Wichita.

Industrial rents in the McPherson - Kansas Market were rising at a 0.4% annual rate during the third quarter of 2020, and have posted an average annual gain of 3.0% over the past three years. Development remains minimal, as nothing has delivered over the past three years, and no projects are currently underway. Vacancies in the metro were somewhat below the 10-year average as of 2020 Q3, but were essentially unchanged over the past four quarters. (CoStar)

Established in 1872, the City of McPherson was described in early transcripts as one of the most flourishing towns in Central Kansas. McPherson continues to thrive in the areas of agriculture, industry and education - attracting residents who contribute to McPhersons overall economic growth and community personality. Nearly 14,000 people currently call McPherson home. (mcpcity.com). McPherson is home to more than 50 companies spanning at least a dozen industries, making this city of 14,000 one of the nations most industrialized communities with a number of industrial, retail, service, education, and healthcare employers. (gomcpherson.com)

Exclusively Listed By

  • Adam Abushagur

    Senior Managing Director Investments

    (972) 755-5223

    Email Adam

    License(s): TX: 661916

    Dallas

  • Tyler Sharp

    Associate

    Email Tyler

    License(s): IL: 475.177869

    Chicago Downtown

Broker of Record

  • Colby Haugness

    First Vice President Investments

    License(s): KS: 00241410

    Kansas

Financing By

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