Alco Plaza

Liberal, Kansas

Offering Summary

  • Status: accepted offer
  • Price: $2,920,000
  • CAP Rate: 8.00%
  • GLA: 61,580 SF
  • Net Operating Income: $233,636
  • Price/SF: $47.42
  • Year(s) Built: 1972
  • Year(s) Renovated: 2000
  • Lot Size (Acres): 7.79
  • Major Tenants: Dillons Food Stores, Brown’s Shoes, Factory Connection
  • 100% Occupied, 61,580 SF Grocery-Anchored Shopping Center in Liberal, Kansas
  • Anchored by Dillons (77% of GLA) – Subsidiary of Kroger –United States Largest Grocery Chain – Second-Largest Retailer behind Walmart – Publicly Traded on NYSE: KR
  • Low Price Point: $2.92M, $47/SF – Also Includes Dillons Fuel Station Out-Parcel
  • Dillons Leased Until 2023 – Tenant since 1990 (30 Years of Tenancy), Cheap $4/SF NNN Rent
  • Complete Renovation of Dillons – Over $3.4M Worth of Upgrades to the Store in 2013 – Paid for Entirely by Tenant
  • Low/Replaceable Rents: $4.06/SF NNN Average Rent
  • Irreplaceable “Main & Main” Real Estate at Intersection of Kansas Ave and E 15th Street – Combined 18,755 Cars/Day – Busiest Intersection in Liberal
  • Complimentary Small Shop Tenant Mix – Footwear and Discount Clothing
  • NNN Leases – 100% of TAX, CAM and Insurance Expenses Reimbursed
EXCLUSIVELY LISTED BY:

Zach Turner

Agents