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Shopping Strip

Dakota Market Place

2919 Dakota Ave S, Huron, SD 57350

Listing Price: $3,455,000

Cap Rate
7.75%
Gross SF
27,400
Rentable SF
27,400
Price/Gross SF
$126.09
Lot Size
8.07 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to present for sale, Dakota Market Place located in Huron, South Dakota. The subject property is a 95 percent occupied, 27,400-square-foot Walmart shadowed strip center. There are strong traffic counts that see 19,187 vehicles per day along Route 37 and Dakota Avenue S. Dakota Market Place is being offered for $3.455 million.

Investment Highlights

  • 95 Percent Occupied, 27,400-Square-Foot Walmart- Shadowed Strip Center in Huron, South Dakota
  • Part of Portfolio of Three Midwest Walmart-Shadowed Strips – Portfolio Stats: 107,360-Square-Foot Gross Leasable Area, 95.8 Percent Occupancy, $880,686 Net Operating Income
  • Shadowed by Only Walmart Supercenter within a 55-Mile / 1-Hour Drive – Zero Competition and Biggest Traffic Driver in the Region
  • Adjacent Walmart Saw 1.14 Million Customer Visits in the T12-Month Period; Super-Regional Destination as the Closest Big-Box Store for Everyone Living within a 30-35-Mile Radius of Huron
  • Anchored by National Retailers Shoe Sensation (18 Percent of Gross Leasable Area) and Maurices (16 Percent of Gross Leasable Area)
  • Panda Garden Buffet (18 Percent of Gross Leasable Area) and La Hacienda Mexican Restaurant (11 Percent of Gross Leasable Area) are Both Original Tenants Leased to Triple-Net Terms with Approximately 15 Years of Tenancy and History of Multiple Renewals
  • Potential Upside Via Lease-Up of One 1,300-Square-Foot Vacancy
  • Offered Free and Clear – Projected 11.6 Percent Cash-on-Cash Return and 17.5 PercentTotal Return at Proposed 70 Percent Loan to Value Bank Financing Terms

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) SD: 17724

    South Dakota

Shopping Strip

Dakota Market Place

Listing Price: $3,455,000

Cap Rate
7.75%
Gross SF
27,400
Rentable SF
27,400
Price/Gross SF
$126.09
Lot Size
8.07 acres
Year Built
2006

Investment Highlights

  • 95 Percent Occupied, 27,400-Square-Foot Walmart- Shadowed Strip Center in Huron, South Dakota
  • Part of Portfolio of Three Midwest Walmart-Shadowed Strips – Portfolio Stats: 107,360-Square-Foot Gross Leasable Area, 95.8 Percent Occupancy, $880,686 Net Operating Income
  • Shadowed by Only Walmart Supercenter within a 55-Mile / 1-Hour Drive – Zero Competition and Biggest Traffic Driver in the Region
  • Adjacent Walmart Saw 1.14 Million Customer Visits in the T12-Month Period; Super-Regional Destination as the Closest Big-Box Store for Everyone Living within a 30-35-Mile Radius of Huron
  • Anchored by National Retailers Shoe Sensation (18 Percent of Gross Leasable Area) and Maurices (16 Percent of Gross Leasable Area)
  • Panda Garden Buffet (18 Percent of Gross Leasable Area) and La Hacienda Mexican Restaurant (11 Percent of Gross Leasable Area) are Both Original Tenants Leased to Triple-Net Terms with Approximately 15 Years of Tenancy and History of Multiple Renewals
  • Potential Upside Via Lease-Up of One 1,300-Square-Foot Vacancy
  • Offered Free and Clear – Projected 11.6 Percent Cash-on-Cash Return and 17.5 PercentTotal Return at Proposed 70 Percent Loan to Value Bank Financing Terms

Investment Overview

Marcus & Millichap is pleased to present for sale, Dakota Market Place located in Huron, South Dakota. The subject property is a 95 percent occupied, 27,400-square-foot Walmart shadowed strip center. There are strong traffic counts that see 19,187 vehicles per day along Route 37 and Dakota Avenue S. Dakota Market Place is being offered for $3.455 million.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): SD: 17724

    South Dakota

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