Gordman's in Arkansas CIty

Retail-Commercial for Sale
Catylist Listing ID: 30568557
Property Subtypes: Street Retail
Building Size (RSF): 13,200 SF
Gross Building Area: 26,200 SF
Sale Price: $150,000
Unit Price: $11.36 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Gordman's Building
Usable Size (USF): 13,200 SF
Sale Terms: Cash to Seller
Cap Rate: 10.5%
Average Occupancy Rate: 100
Last Updated: 9/16/2020

Overview / Comments

Highly visible, large retail space building in the historic downtown district of Arkansas City, KS. In excellent condition with a new roof in 2018. Has been consistently occupied until the recent corporate financial restructure of Gordmans which closed its Wichita area stores. Building has two separate store front entrances (plate glass window front) and can be subdivided. There's front curb side parking and a large parking lot behind the building. Additional access to the building from the public parking lot thru a rear door. Full size basement for storage. Wonderful opportunity for an owner/user or an investor. Potential cap rate of 10.5% or higher. See brochure and commercial property disclosure for more details.

Additional Details

Nearest MSA: Winfield
County: Cowley
Taxing Authority: Cowley County
Tax ID/APN: 0182993003016006000
Zoning: CENTRAL BUSINESS DISTRICT DOWNTAON RETAIL
Retail Clientele: General, Family
Property Located Between: Central Business District
Property Visibility: Excellent
Largest Nearby Street: Summit Street (the main street in in Ark City)
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 13,200 SF
Property Condition: Good
Year Built: 1957
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Brick building with glass store front.
Parking Type: Surface
Parking Description: Downtown curb side parking plus public parking lot behind the store with direct access into store.
Sprinklers: Wet
Interior Description: Open floor plan downtown retail store with full basement.
Zoning Description: Downtown Retail/Office
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: Lot 20 except South 5", Lots 21-23, and South 1.25' of Lot 24, Block 81, Arkansas City, Cowley County, KS

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,790 13,092 13,848
Median Age: 30.67 34.89 35.31
Households: 2,458 5,049 5,344

Contact

Photograph of Listing Agent

Rob Pestinger

Plaza Commercial Real Estate
KSCRE Member
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