Park Plaza

Manitowoc | Wisconsin

Offering Summary

  • Status: just listed
  • Price: $9,510,000
  • Cap Rate: 8.25%
  • GLA: 110,266 SF
  • Net Operating Income: $784,655
  • Price/SF: $86
  • Year(s) Built: 1990
  • Lot Size (Acres): 10.34
  • Major Tenants: Hobby Lobby, Ollie's Bargain Outlet, Community First Bank, Family Dollar, Holy Smokes, Acadia Healthcare, GB Nails
  • 100% Occupied, 110,266 SF Community Shopping Center Offering with 6.63 Yr WALT
  • 3 Separate Buildings in Offering – Free Standing Hobby Lobby, 2-Tenant Outparcel Strip, 60,000 SF Neighborhood Center
  • Anchored by Hobby Lobby (41% of GLA) – Tenant Since 2005; Recent 10 Yr Renewal; Cheap $3.25/SF NNN Rent
  • Mark to Market Opportunity – Average In-Place Rent of $7.87/SF
  • Durable, Tenured Rent Roll – 60% of Tenants in Place for 20+ Years
  • 4,831 SF 2-Tenant Freestanding Outparcel Building with Excellent Visibility & Frontage
  • Functional Site Layout at Signalized Intersection with Multiple Access Points (7)
  • Situated Along Route 42 with 17,170 VPD – Primary Retail Corridor and Arterial Connecting Downtown Manitowoc to I-43
  • Manitowoc, WI – Lakefront City 30 Minute North of Sheboygan & 1 Hour North of Milwaukee; 79,000+ Resident MSA
EXCLUSIVELY LISTED BY:

Erin Patton

Senior Managing Director