Marion Shopping Center

24,500 SF | 100% Leased | Retail Building | Marion, IL 62959 | $4,469,794 ($182/SF) | 8.25% Cap Rate

Asking Price $4,469,794

Property Type: Retail
Square Feet: 24,500 SF
Price / Square Foot: $182

Listing Contacts

Philip Levy

Verified Profile

Steven Weinstock

Verified Profile

Property Info

Property Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 24,500-square-foot, Walmart shadow-anchored, multi-tenant retail center located in Marion, Illinois. Marion Shopping Center is currently 100 percent occupied, and 100 percent of the leases are triple-net. Tenants consist of Belton Hearing Center, Sport Clips, Vape & Smoke Shop, GNC, Baan Thai Restaurant, Sally Beauty Supply, Maurice's, Dollar Tree, and La Galeria Mexican Cuisine and Creamery. The building was constructed in 2007 and is situated on a 2.45-acre parcel with ample paved parking.
Marion Shopping Center is located in a dense retail trade area on Williamson County Parkway in the northwestern quadrant of Interstate 57 and Illinois Route 13 (West Deyoung Street). The center sits adjacent to a top-ranking Walmart Supercenter store, ranking in the 93rd percentile in both the state of Illinois and nationally, based on annual visitors to all Walmart Supercenters (source: Placer Labs Inc.). Numerous other national and regional retailers neighbor the property, including The Home Depot, Target, Dillard’s, Red Lobster, Texas Roadhouse, Cricket Wireless, Super Cuts, Hibbett Sports, GameStop, Sam’s Club, Starbucks, Sonic Drive-In, AT&T, Applebee’s, and many others. The subject property is also in close proximity to many national hotel chains such as Comfort Inn & Suites, Hampton Inn, Drury Inn, Fairfield Inn & Suites by Marriot, and Holiday Inn Express & Suites, providing additional traffic to the area. The average household income is $68,097 within three miles; $72,649 within five miles; and $78,811 within 10 miles.

Property Details

Class: B
Year Built: 2007
Stories: 1
Property Subtype: Storefront
Lot Size (sq. ft): 106,722 SF

Highlights

24,500-Square-Foot, Multi-Tenant Retail Center
Fully Stabilized Asset | 100% Occupied | 100% of the Leases Are Triple-Net
Strong Tenant Base Anchored by Dollar Tree

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