Historical Retail Sale Listing - Taylor Heights Shopping Center

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Taylor Heights Shopping Center

521 S. Taylor Drive, Sheboygan, WI 53081

N/A

85,072 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
85,072 SF
Property Type:
Retail
Property Sub-type:
Community Center
Property Use Type:
Investment
Tenancy:
Multiple
Year Built:
1989
Lot Size:
9.23 AC
Parking Ratio:
4.09 / 1,000 SF
Listing ID
14348467
Last Updated
over 1 year ago

Description

Shadow-anchored by Wal-Mart (not included in the offering); anchored by Piggly Wiggly, which is dark but paying rent. Taylor Heights presents an investor the opportunity to recapture and re-tenant anchor space in a strategically located retail corridor. The income provided by the vacated Piggly Wiggly until January 2009 will carry the project financially for approximately three years while a re-tenanting plan is developed and executed. Other tenants include Blockbuster Video, Sprint PCS, Get It Now, Sally Beauty Supply, Book World, Cost Cutters, and Wells Fargo Financial. There is approximately 348 parking spaces owned and offered, for a ratio of 4.09/1,000. The center is not encumbered with any existing debt that a purchaser will be required to assume. This will enable investors to capitalize on leveraging the acquisition with debt that is currently available at attractive rates.

Taylor Heights is strategically located in the heart of a dominant retail corridor serving the City of Sheboygan and its surrounding communities. In proximity to Taylor Heights is Memorial Plaza Mall, which was developed by Simon Property Group, along with several other prominent retail developments. The center has excellent visibility from Taylor Road, one of the Greater Sheboygan area's primary north/south arteries with an average daily traffic count of 22,600 vehicles. The center and surrounding retail corridor serves a trade area with an attractive demographic profile. Within three and five-mile radiuses are 53,739 and 68,625 residents, respectively, with average household incomes of $53,406 and $56,271. The area is mature, stable and has a growing tourism base with its proximity to Lake Michigan and world-renowned golf courses.

Map of 521 S. Taylor Drive, Sheboygan, WI 53081 (Sheboygan County)

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