601 Business Loop 70 W
Columbia, MO 65203 ·
212,729 SF · Retail For Sale
|Gross Leasable Area||212,729 SF||Cap Rate||8%|
|Property Use Type||Investment||Lot Size||19.40 AC|
|Listing ID: 15968195||Date Created: 10/30/2008||Last Updated: 01/23/2009|
Parkade Center had a complete renovation in 2005 on the exterior and a majority of the interior. This property went from a low C-class property to a high B-class facility that has caught the eye of businesses and community.
Parkade consists of retail, government, service and office tenants. This gives it a unuiqe and organic identity which provides a great deal of stability to the asset.
Average rents are $9.00/sf in a $12.00+ market; near-term rent growth is available for the buyer.
The Parkade Center is located in one of Columbia's well established retail neighborhoods, with an area population of about 100,000. The center has visibility and access to I-70 and is on a major business thoroughfare (Business Loop 70).
- Diverse national, regional and local tenant base
- Capital recovery - out parcels can be created, rented or sold
- Traffic counts exceeding 90,000 per day with 1,000+/- ft. of frontage
- 40% over-parked with 1400 parking spaces = 6.5 /1000 s.f.
- Recent completed renovation - no deferred maintenance.
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