This Property is no longer advertised on Showcase.com.
Off Market
1/5

1312-1430 Industrial Rd
Emporia, KS 66801


OVERVIEW

Emporia West Plaza is a value-add, multi-tenant center located at 1312 Industrial Road in Emporia, Kansas. Anchored by Tractor Supply Co., co-tenants include Dollar General, Rent-A-Center, Boost Mobile, Ichiban Asian Bistro, Taekwondo, Oriental Massage, and House of Ma Restaurant. Emporia West Plaza is 67% occupied, and NNN leases account for 58% of the gross leasable area. Additional income is derived from Community National Bank & Trust, an adjacent pad site contributing to common area maintenance expenses. The property has 13 retail units ranging in size from 1,625 SF to 21,475 SF. Situated on one parcel totaling ±6.4 acres, the property offers abundant parking and prominent monument sign on Industrial Road. Budgeted NOI is $250K at current occupancy. There is the opportunity to enhance value through leasing-up the 24,979 SF available space at long term market rates. The property enjoys long term tenancy and staggered lease expirations, which provide a balance of stable cash flow and future upside. Below-market rents provide the opportunity to increase revenue upon rollover via mark-to-market rents. Emporia West Plaza is well-located between the signalized intersections of Industrial Road & West 12th Avenue, and Industrial Road & West 15th Avenue. There is immediate access to I-35, a major thoroughfare across Kansas. Many national and regional retailers are within proximity, including Flinthills Mall, Hibbett Sports, JCPenney, Walgreens, Walmart, CATO, Dollar Tree, Pizza Hut, Applebee's, Starbucks Coffee, and more. Newman Regional Health, the largest Critical Access Hospital in Kansas, and Emporia State University (5,700 enrolled), are located two miles from the center. Additionally, Emporia is home to many manufacturing plants including Tyson Foods, Hostess, Hill's Pet Nutrition, Simmons Pet Food, and Coca-Cola. More than 25,000 residents are within five miles of the property, and the average household income is $51,560. Emporia West Plaza offers value-add opportunities through vacancy absorption, contractual increases and mark-to-market increases upon rollover.

FOR SALE DETAILS

PRICE

-

CAP RATE

-

% LEASED

-

TENANCY

-

BUILDING DETAILS

PROPERTY NAME

Emporia West Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

75703

STORIES

1

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

335

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

193-08-0-10-05-005.00-0