Northwest Commons

Grand Island | Nebraska

Offering Summary

  • Status: just listed
  • Price: $13,885,000
  • Cap Rate: 8.00%
  • Year 3 Cap Rate: 10.32%
  • Net Operating Income: $1,110,811
  • Price/SF: $105
  • Year(s) Built: 2015
  • Lot Size (Acres): 16.01
  • Major Tenants: Dick's Sporting Goods, Burlington, Tso's Asian Buffet, Travelers Taproom, Smokaha, Spectrum
  • Dominant Regional Shopping Center Anchored by Dick’s Sporting Goods (45,830 SF) and Burlington (40,000 SF) | ~65% of GLA
  • Strong 3.97% CAGR due to Lease Up Opportunities, Mark to Market Rent and Organic Rent Growth
  • Discount to Replacement Cost | $105/SF Basis for 131,749 SF Community Center
  • Value-Add Opportunity Through Lease-Up | ~16% Vacancy Including 17,346 SF Junior Anchor Space
  • Multiple Mark to Market Rent Opportunities with 6 Current Small Shop Rents Ranging from $10/SF  – $18/SF
  • 2 Outparcels included (1.03 & .81 Acres) Offering Additional Paths to Upside
  • Year 3 Pro Forma Cap Rate of 11.54%, Demonstrating Strong Forward Yield Potential
  • Diversified Rent Roll with National & Regional Tenancy | Service-Oriented and Internet-Resistant Mix
  • Predominately NNN Lease Structures Provide High Recapture Rate for CAM/TAX/INS
  • Established Regional Retail Hub | Located in Primary Retail Corridor of Grand Island
  • Surrounded by High-Performing National Retailers | Walmart, Sam’s Club, Menards, Hobby Lobby, Ross, Five Below
  • Significant Traffic Drivers | Highway 281 Exposure with ~21,000 VPD
  • Strong Retail Fundamentals | Center Draws from 30+ Rural Communities Within 90-Mile Radius
  • High Retail Traffic Node | Nearby Centers Generate 1.2M–3.5M Annual Visits (Placer.ai)
  • Dense and Stable Trade Area | 42K+ Population Within 3 Miles
  • Solid Income Demographics | ~$85K Average Household Income (5-Mile)
  • Central Nebraska’s Primary Retail Hub | Serves as Commercial Center for Surrounding Region
EXCLUSIVELY LISTED BY:

Craig Fuller

Senior Managing Director