Wildcat Plaza

Price: $5,256,600
Sq. Ft.: 52,947
Cap Rate: 4.94%
Pro Forma Cap Rate: 11.00%
Built: 1998

Marcus & Millichap is pleased to offer the opportunity to acquire a value-add, 52,947-square-foot, multi-tenant retail center that is shadow-anchored by a Walmart Supercenter in Owensboro, Kentucky. The center is currently 74 percent occupied with 20 percent of the gross leasable area having triple-net leases, providing significant upside potential to a future investor by leasing the vacancies and converting all leases to triple-net. Wildcat Plaza has a complementary tenant mix of predominantly internet-resistant and service-oriented business including Molina Healthcare of Kentucky, Once Upon a Child, Ross Education, and King’s Great Buys Plus. The center was constructed in 1998 and is situated on a 3.84-acre parcel with ample parking.

  • 52,947-Square-Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart Supercenter
  • Value-Add Opportunity | 74% Occupied | 20% of the Gross Leasable Area has Triple-Net Leases | Pro Forma Cap Rate is 11.00%
  • Tenants are a Complementary Mix of Internet-Resistant Businesses
  • Priced at $99 per Square Foot | Well Below Replacement Cost
  • Seller Reports over $200,000 in Recent Property Improvements Including a New Roof on the Entire Building with a Manufacturer’s 15-Year Warranty, Crack Filling and Seal Coating of the Parking Lot, Installation of Exterior LED Lighting, Exterior Insulating Finish Systems and Exterior Painting, Updated Landscaping, and Professionally Cleaning all Vacant Suites
  • Large Pylon Sign Provides Additional Visibility to the Center
  • Located in a Dense Retail Trade Area on Southtown Boulevard Near the Signalized Intersection with Frederica Street | Easily Accessible from Multiple Ingress and Egress Points
  • Close Proximity to Numerous National Retailers Including Lowe’s Home Improvement, Best Buy, TJ Maxx, Target, Shoe Carnival, PetSmart, Jo-Ann Fabric, Big Lots, Office Depot, Towne Square Mall, The Home Depot, and Many More
  • Population is Approximately 75,577 Residents within a Five-Mile Radius with an Average Household Income of $62,765