Classic Auction - Retail

52% Occupied Target Shadow Anchored Power Center

1700 Market Lane, Norfolk, NE 68701

  • Asset Type
  • Real Estate
  • Property Type
  • Retail
  • Land Area
  • 33.89 Acres
  • Number of Floors
  • 1
  • Number of Buildings
  • 1
  • Parking Count
  • 1,716
  • Occupancy
  • 52.00%
  • Occupancy as of
  • Oct 01, 2021
  • Retail Type
  • Power Center
  • Anchor
  • Yes
  • Anchor Tenant(s)
  • Target (shadow), Famous Footwear, Hibbett Sports, JC Penny
  • Property Size
  • 238,704 Sq Ft

$1.2M NOI: 52% Occupied Center (National LOI's for Vacancies)

Investment Highlights 

  • NOI: $1,211,190.12 (see DD)
  • 80% of Roof under warranty-(see DD for more info)
  • 52% Occupied Target Shadow Anchored Center - True Value-Add 
  • 70% of NOI from National Tenants with extensions and high store sales
  • Value-Add: 115,176 Square-feet Vacant consisting of a 77,856 SF box and 11 shop spaces 
  • High Leasing Traction with LOI's from Kohl's, TJMaxx, Ulta, Old Navy, Planet Fitness, Dunham's, and Five Below (Call for info)
  • Target Grocery Shadow Anchored Center with Target owning their own parcel 

Offering Details

Brookwood Capital Advisors and RI Marketplace are pleased to present this 52% occupied power center in Norfolk, NE. The center benefits from high store sales, and recent extensions from the majority of tenants, with 48% vacancy (a true value add deal). The center's cash flow is over $1.2M annually (NOI after expenses), and the owners have received LOI's from 6 national tenants for the existing vacancy, an estimated increase of $18,000,000 in value (see full DD for cost benefit analysis). A future development is imminent post closing, increasing the value of the center, and Brookwood Capital can guide the future owners on a redevelopment strategy. 80% of the roof is currently under warranty, and the center benefits from it's main and main placement with several new outparcel developments including a Raising Canes. Target owns their own box directly, and provides a shadow anchor further increasing traffic to the power plaza. 

Property Walk Through: 

    Call Brookwood Capital 

    Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

    Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

    You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

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    • Lamar P. Fisher

      Fisher Auction Company Inc.

      Internet Auctions Exempt