1000 Leigh Ave - Retail FOR SALE


Anna, IL 62906
$1,105,748 USD
314-598-1469
1000 Leigh Ave, Anna, IL for Sale
$1,105,748 USD
Retail - FOR SALE
1/4
null | 8% Cap Rate

1000 Leigh Ave
Anna, IL 62906


HIGHLIGHTS

  • VALUE-ADD | 10,150 SQUARE FOOT | 87% OCCUPIED
  • WALMART SHADOW ANCHORED
  • TRUE VALUE-ADD UPSIDE
  • PRIME RETAIL LOCATION WITH LIMITED COMPETITION
  • SERVICE-BASED, E-COMMERCE RESISTANT TENANT MIX WITH MEDICAL ANCHOR

OVERVIEW

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 100% fee simple interest in Anna Crossing (“The Property”), a 10,150 square foot Walmart shadow anchored retail strip center located in Anna, Illinois. Built in 2003 on a 1.7-acre site, the Property is 87% occupied and home to a complimentary mix of local and regional tenants including Southern Illinois Healthcare, S.I. Tan Co, Anna Tobacco, and Lucky Lady. The Property is perfectly positioned directly in front of the Walmart Supercenter, (the only Walmart within a 20-mile radius) creating convenient cross-shopping synergies and a continual stream of customers through the parking lot. In addition, Anna Crossing benefits from a dense retail trade area along Highway 51 (Vienna Street), the primary north-south commercial corridor in Anna. The property sits within a proven retail node that includes Kroger, Walgreens, Burger King, KFC, Taco Bell, Pizza Hut, Verizon Wireless, and a Chevrolet/Buick dealership, driving consistent daily traffic to the center. Anna is the county seat of Union County in Southern Illinois, situated approximately 130 miles southeast of St. Louis and 26 miles northeast of Cape Girardeau. The property falls within the Paducah-Cape Girardeau-Harrisburg CBSA. The region’s largest employers include Choate Health & Development Center, Walmart, and Union County Hospital, providing a stable and diverse employment base that anchors local retail demand. Within ten miles of the subject property, there are approximately 16,000 residents with an average household income of $75,000. Anna Crossing offers investors a secure and stable asset with a significant value-add opportunity through lease-up of the last remaining vacancy which totals 1,300 square feet. Once the Property is fully stabilized, the cap rate will be 10%+ with a 15.9% cash on cash return, providing a clear value creation strategy. The Property is being offered free and clear of debt for an 8% cap rate totaling $1,105,748

FOR SALE DETAILS

PRICE

$1,105,748 USD

PRICE/SF

$101 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Anna Crossing

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.7 AC

LAND SF

74,052 SF

ZONING

-

APN/PARCEL ID

14-00-11-958-A

ASK ABOUT THIS PROPERTY

Alex PerezMarcus & MillichapMore Info
314-598-1469

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Alex PerezMarcus & MillichapMore Info
314-598-1469

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.