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Shopping Strip

Cardinal Pointe

1901 Cornhusker Dr, South Sioux City, NE 68776

Listing Price: $3,485,000

Cap Rate
7.75%
Gross SF
40,760
Rentable SF
40,760
Price/Gross SF
$85.50
Lot Size
5.81 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to present for sale, Cardinal Pointe located in South Sioux City, Nebraska. The subject property is a 92 percent occupied, 40,760-square-foot Walmart shadowed strip center. This offering consists of two strips comprised of a 10-unit inline strip and a four-unit front outparcel strip. Cardinal Pointe is being offered for $3.485 million.

Investment Highlights

  • 92 Percent Occupied, 40,760-Square-Foot Walmart-Shadowed Strip Centers in South Sioux City, Nebraska
  • 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 Walmart Supercenter – Highway Adjacent Real Estate with Additional Complementary Retail in the Immediate Vicinity
  • Anchored by Dollar Tree (22 Percent of Gross Leasable Area) – Original Tenant Since 2006 with New Five-Year Extension Thru January 2027
  • Seasoned Rent Roll – 54 Percent of Rent Roll (Seven of 13 Tenants) Are Original or Have at Least 10 Years of Tenancy and History of Multiple Renewals
  • Offered Free and Clear – Projected 11.4 Percent Cash-on-Cash Return and 17.4 Percent Total Return at Proposed 70 Percent Loan to Value Bank Financing Terms
  • Offering Consists of Two Strips – 10-Unit Inline Strip and Front Four-Unit Outparcel Strip
  • Potential Upside Via Lease-Up of 3,200-Square-Foot Vacancy Configured as One Unit (Former Tanning Salon); Can be Subdivided Back into Two Units if Desired

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) NE: 20200223

    Nebraska

Listing Price: $3,485,000

Cap Rate
7.75%
Gross SF
40,760
Rentable SF
40,760
Price/Gross SF
$85.50
Lot Size
5.81 acres
Year Built
2006

Investment Highlights

  • 92 Percent Occupied, 40,760-Square-Foot Walmart-Shadowed Strip Centers in South Sioux City, Nebraska
  • 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 Walmart Supercenter – Highway Adjacent Real Estate with Additional Complementary Retail in the Immediate Vicinity
  • Anchored by Dollar Tree (22 Percent of Gross Leasable Area) – Original Tenant Since 2006 with New Five-Year Extension Thru January 2027
  • Seasoned Rent Roll – 54 Percent of Rent Roll (Seven of 13 Tenants) Are Original or Have at Least 10 Years of Tenancy and History of Multiple Renewals
  • Offered Free and Clear – Projected 11.4 Percent Cash-on-Cash Return and 17.4 Percent Total Return at Proposed 70 Percent Loan to Value Bank Financing Terms
  • Offering Consists of Two Strips – 10-Unit Inline Strip and Front Four-Unit Outparcel Strip
  • Potential Upside Via Lease-Up of 3,200-Square-Foot Vacancy Configured as One Unit (Former Tanning Salon); Can be Subdivided Back into Two Units if Desired

Investment Overview

Marcus & Millichap is pleased to present for sale, Cardinal Pointe located in South Sioux City, Nebraska. The subject property is a 92 percent occupied, 40,760-square-foot Walmart shadowed strip center. This offering consists of two strips comprised of a 10-unit inline strip and a four-unit front outparcel strip. Cardinal Pointe is being offered for $3.485 million.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): NE: 20200223

    Nebraska

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