This property is Off-Market
521 S. Taylor Drive
Sheboygan, WI 53081 ·
85,072 SF · Retail For Sale
Taylor Heights Shopping Center
|Gross Leasable Area||85,072 SF||Year Built||1989|
|Property Type||Retail||Lot Size||9.23 AC|
|Property Sub-type||Community Center||Parking Ratio||4.09 / 1,000 SF|
|Property Use Type||Investment|
|Listing ID: 14348467||Date Created: 09/27/2005||Last Updated: 01/30/2006|
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.
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