The Shops at Westgate - Retail Investment Opportunity

Shopping Center for Sale
Catylist Listing ID: 30474742
Property Subtypes: Free-Standing Store
Building Size (RSF): 12,255 SF
Gross Building Area: See Agent
Gross Land Area: 1.03 Acres
Sale Price: $1,000,000
Unit Price: $81.60 PSF
Property Use Type: Investment
Building Name: The Shops at Westgate
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/19/2019

Overview / Comments

- NOI: $67,151
- Occupancy: 63.28%
- Parking: 60 stalls
- Signage: 1 pylon sign
- Huge Value-Add Opportunity; Currently 63% Occupied
- Strong Co-Tenancy; Shadowed by Westgate Market - Including Walmart, Sam’s Club & More!
- Located on West Kellogg directly on the exit ramp with a combined 93,549 vehicles per day
- Current tenants are encumbered with NNN or Gross leases - Pro Rata Reimbursement of Tax/CAM/Ins.
- Ease of management with 6 units
- Going-In CAP of 6.72% - jumps to 10.62% at 89% occupancy and 12.32% at 100% occupancy

Additional Details

Nearest MSA: Wichita
County: Sedgwick
Tax ID/APN: 087138270240200600
Retail Clientele: General
Property Located Between: Dugan and Ridge Rd
Property Visibility: Excellent
Largest Nearby Street: Kellogg Drive
Feet of Frontage: 200
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 12,255 SF
Year Built: 2006
Parking Type: Surface
Total Parking Spaces: 60

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,512 77,274 184,979
Median Age: 34.55 37.26 35.85
Households: 2,426 31,910 73,313
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