This property is Off-Market

1473 MacCorkle Avenue
Saint Albans, WV 25177 ·

257,551 SF · Retail For Sale

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St Albans Shopping Center

Price N/A Property Use Type Investment
Gross Leasable Area 257,551 SF Cap Rate 8.01%
Property Type Retail Tenancy Multiple
Property Sub-type Neighborhood Center
Listing ID: 17079326 Date Created: 03/23/2011 Last Updated: 10/31/2011

Description

St. Albans Shopping Center is a 257,551 square foot community shopping center with 911 parking spaces. The Property is in St. Albans, West Virginia, 20 minutes from Charleston, West Virginia. The Center is anchored by long time tenants, Kmart, Kroger, CVS and Peebles Department Store, a majority of which have been in the Center since 1975, and contains 14 other tenants providing a variety of goods and services to a stable solidly middle income trade area. The center is situated on 24 prime acres directly on Route 60, a major traffic artery running through St. Albans. St. Albans is 100 percent leased except for the 35,500 vacant (former mall) rear building suitable to expand the center or, for office, storage, or to create additional parking.

Kmart recently exercised its five-year option to 2015 in advance and Kroger, who just finished a major renovation, entered into a new 15-year lease expiring at the end of 2025. Kroger also added their standard fueling station which has brought much additional traffic to the Center. St. Albans Shopping Center provides an investor with a dominant supermarket anchored retail center that is both stable as well as having major upside due to below market rents, and a vacant 35,500 square foot building for redevelopment.

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1473 MacCorkle Avenue, Saint Albans, WV 25177 (Kanawha County)

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