Former Kmart Center- Huge Development Upside | Former Kmart Center
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Former Kmart Center- Huge Development Upside Former Kmart Center
109,454 SF 100% Leased Retail Building Scottsbluff, NE 69361 $3,250,000 ($30/SF)
Investment Highlights
- Huge Value-Add Former Kmart Shopping Center Redevelopment Site - Plus 2 Outparcel PADS
- Scottsbluff is Regional Hub for Business/Employment/Industry/Retail Trade/Tourism in West NE
- Strategically Surrounded by all Major Retail - Adjacent to Uptown Scottsbluff Mall/W NE College
- Main Retail Trade Corridor with Tremendous Highway Visibility - Large 9.3 Acre Hard Corner
- Well Below Replacement Cost plus Necessary Improvement Costs - Break-up Strategy for PADS
Executive Summary
The Snyder Carlton National Net Lease Team is pleased to present to investors and developers an opportunity to purchase a former BIG Kmart anchored shopping center (100% vacant) in Scottsbluff, NE. The subject property comprises a 109,454 SF building and two parcels totaling 9.30 acres strategically positioned on the hard corner of E 27th Street (11,845 VPD) and Frontage Road and is directly adjacent to the Heartland Expressway (U.S. Route 26) which sees over 12,000 VPD. Currently zoned PBC (planned business center), significant value
can be created through redevelopment or lease up. This would be an excellent candidate for self-storage conversion, industrial use, residential redevelopment, or development of outparcel/pad sites.
The Uptown Scottsbluff area has numerous retailers nearby including Walmart Supercenter, Target, The Home Depot, Menard’s, Hobby Lobby, Walgreens, McDonald’s, Culver’s, Taco Bell, KFC, Harbor Freight, AutoZone, and more. Directly neighboring the subject property, Uptown Scottsbluff (formerly Monument Mall) is currently undergoing a revitalization which is expected to significantly increase traffic and encourage cross shopping synergies. Additionally, several schools surround the property including Western Nebraska Community College, Scottsbluff Senior High School, and Bluffs Middle School which have a combined enrollment surpassing 4,200 students.
This is a great value add opportunity for investors or developers seeking a prominent location in Scottsbluff, NE with excellent potential.
can be created through redevelopment or lease up. This would be an excellent candidate for self-storage conversion, industrial use, residential redevelopment, or development of outparcel/pad sites.
The Uptown Scottsbluff area has numerous retailers nearby including Walmart Supercenter, Target, The Home Depot, Menard’s, Hobby Lobby, Walgreens, McDonald’s, Culver’s, Taco Bell, KFC, Harbor Freight, AutoZone, and more. Directly neighboring the subject property, Uptown Scottsbluff (formerly Monument Mall) is currently undergoing a revitalization which is expected to significantly increase traffic and encourage cross shopping synergies. Additionally, several schools surround the property including Western Nebraska Community College, Scottsbluff Senior High School, and Bluffs Middle School which have a combined enrollment surpassing 4,200 students.
This is a great value add opportunity for investors or developers seeking a prominent location in Scottsbluff, NE with excellent potential.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
109,454 SF
Building Class
B
Year Built
1979
Price
$3,250,000
Price Per SF
$30
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
9.30 AC
Zoning
03
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,258,905 | |
| Land Assessment | $1,183,486 | Total Assessment | $2,442,391 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,183,486
Improvements Assessment
$1,258,905
Total Assessment
$2,442,391
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