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Lexington Place 210 Frontier St 12,260 SF 100% Leased Retail Building Lexington, NE 68850 $2,100,000 ($171.29/SF) 7.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Walmart Shadow Anchored Retail Center
- Service Based Retail Tenants with 4.5+ WALT
- Excellent Condition with Modern Facade
- 12,260 Square Feet - 5 Tenants
- Limited Competition - Only Walmart within a 40-Mile Radius
EXECUTIVE SUMMARY
Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 100% fee simple interest in Lexington Plaza, a 12,260 square-foot Walmart shadow-anchored retail center, situated on 1.28 acres of land in Lexington, NE
Built in 2005, Lexington Plaza is located along a major commercial access road just off interstate 80 (18,500+ VPD) featuring excellent frontage, visibility and ease of access for retail traffic. Strategically located directly next to the only Walmart within a 40-mile radius making this a destination location by serving all surrounding communities.
Situated just south of downtown Lexington, along Frontier Street within the major retail corridor. The location features an average household income of $91,815 in a 1-mile radius promoting financial stability and consumer spending. The neighboring retailers in this area do well including the neighboring McDonald’s, Arby’s, Burger King, and Runza.
The property features a modern façade that has been well maintained, featuring a complementary mix of national, dining, and local service providing tenants. Each tenant’s lease includes strong annual rent increases, triple net lease structures, and a WALT of over 4.5 years.
The property is being offered free and clear of debt at a 7.75% cap rate totaling $2,100,000.
Built in 2005, Lexington Plaza is located along a major commercial access road just off interstate 80 (18,500+ VPD) featuring excellent frontage, visibility and ease of access for retail traffic. Strategically located directly next to the only Walmart within a 40-mile radius making this a destination location by serving all surrounding communities.
Situated just south of downtown Lexington, along Frontier Street within the major retail corridor. The location features an average household income of $91,815 in a 1-mile radius promoting financial stability and consumer spending. The neighboring retailers in this area do well including the neighboring McDonald’s, Arby’s, Burger King, and Runza.
The property features a modern façade that has been well maintained, featuring a complementary mix of national, dining, and local service providing tenants. Each tenant’s lease includes strong annual rent increases, triple net lease structures, and a WALT of over 4.5 years.
The property is being offered free and clear of debt at a 7.75% cap rate totaling $2,100,000.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
12,260 SF
Building Class
B
Year Built
2005
Price
$2,100,000
Price Per SF
$171.29
Cap Rate
7.75%
NOI
$162,750
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
1.28 AC
Opportunity Zone
Yes
Zoning
CC - Community Commercial
Parking
54 Spaces (4.4 Spaces per 1,000 SF Leased)
Frontage
20’ on Frontier Street
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 24-0213262 | Improvements Assessment | $1,083,860 |
| Land Assessment | $222,600 | Total Assessment | $1,306,460 |
PROPERTY TAXES
Parcel Number
24-0213262
Land Assessment
$222,600
Improvements Assessment
$1,083,860
Total Assessment
$1,306,460
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Lexington Place | 210 Frontier St
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