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Shopping Strip

Emporia West Plaza

1312 Industrial Rd, Emporia, KS 66801

Listing Price: $3,950,000

Cap Rate
7.52%
Gross SF
75,703
Rentable SF
75,703
Price/Gross SF
$52.18
Lot Size
6.40 acres
Year Built
1980

Investment Overview

Marcus & Millichap is please to offer the opportunity to acquire a value-add, 75,703-square foot, multi-tenant retail center in Emporia, Kansas. The center is 70 percent occupied, and 61 percent of the gross leasable area has triple-net leases. The center is anchored by Tractor Supply Co., and the tenant base is a complementary mix of internet-resistant tenants. Other tenants include Dollar General, Rent-A-Center, Boost Mobile, Ichiban Asian Bistro, Metro by T-Mobile, Taekwondo, Oriental Massage, and House of Ma Restaurant. Tractor Supply Co., Dollar General, Rent-A-Center, and Boost Mobile are publicly-traded companies. Additional income is derived from Community National Bank & Trust, an adjacent pad site contributing to common area maintenance expenses. Constructed in 1980 and renovated in 2008, the subject property is situated on a large 6.4-acre parcel. Emporia West Plaza is located on Industrial Road north of the the signalized intersection of Industrial Road and West 12th Avenue and south of the the signalized intersection of Industrial Road and West 15th Avenue. The property is one-half mile south of Interstate 35, a major thoroughfare across the state of Kansas. Many national and regional retailers are in close proximity to the property including Flinthills Mall, Hibbett Sports, JCPenney, Walgreens, Walmart, CATO, Dollar Tree, Pizza Hut, Applebee's, Starbucks Coffee, and more. Over 25,000 residents are within five miles of the property, and the average household income is $51,560.

Investment Highlights

  • 75,703-Square Foot, Multi-Tenant Retail Center
  • Value-Add Opportunity | Currently 70% Occupied | Pro Forma Cap Rate is 12.36%
  • Anchored by Tractor Supply Co. | Other National Credit Tenants Include Dollar General, Rent-A-Center, and Boost Mobile
  • Complementary Mix of Internet-Resistant Tenants | 61% of the Gross Leasable Area has Triple Net Leases
  • Priced at $52 per Square Foot | Significantly Below Replacement Cost

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Listing Price: $3,950,000

Cap Rate
7.52%
Gross SF
75,703
Rentable SF
75,703
Price/Gross SF
$52.18
Lot Size
6.40 acres
Year Built
1980

Investment Highlights

  • 75,703-Square Foot, Multi-Tenant Retail Center
  • Value-Add Opportunity | Currently 70% Occupied | Pro Forma Cap Rate is 12.36%
  • Anchored by Tractor Supply Co. | Other National Credit Tenants Include Dollar General, Rent-A-Center, and Boost Mobile
  • Complementary Mix of Internet-Resistant Tenants | 61% of the Gross Leasable Area has Triple Net Leases
  • Priced at $52 per Square Foot | Significantly Below Replacement Cost

Investment Overview

Marcus & Millichap is please to offer the opportunity to acquire a value-add, 75,703-square foot, multi-tenant retail center in Emporia, Kansas. The center is 70 percent occupied, and 61 percent of the gross leasable area has triple-net leases. The center is anchored by Tractor Supply Co., and the tenant base is a complementary mix of internet-resistant tenants. Other tenants include Dollar General, Rent-A-Center, Boost Mobile, Ichiban Asian Bistro, Metro by T-Mobile, Taekwondo, Oriental Massage, and House of Ma Restaurant. Tractor Supply Co., Dollar General, Rent-A-Center, and Boost Mobile are publicly-traded companies. Additional income is derived from Community National Bank & Trust, an adjacent pad site contributing to common area maintenance expenses. Constructed in 1980 and renovated in 2008, the subject property is situated on a large 6.4-acre parcel. Emporia West Plaza is located on Industrial Road north of the the signalized intersection of Industrial Road and West 12th Avenue and south of the the signalized intersection of Industrial Road and West 15th Avenue. The property is one-half mile south of Interstate 35, a major thoroughfare across the state of Kansas. Many national and regional retailers are in close proximity to the property including Flinthills Mall, Hibbett Sports, JCPenney, Walgreens, Walmart, CATO, Dollar Tree, Pizza Hut, Applebee's, Starbucks Coffee, and more. Over 25,000 residents are within five miles of the property, and the average household income is $51,560.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

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