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Off Market
1/8

1001-1013 Commerce Dr
Fairfield, IL 62837


HIGHLIGHTS

  • Two Multi-Tenant Retail Centers | 8,905sf Center & an 8,560sf Center
  • Walmart Shadow Anchored Retail Center
  • 93% Occupancy | Stabilized with Upside Potential in Leasing Vacant Suite
  • Mostly Triple Net Leases | Verizon Wireless Extended Lease Early in July 2019
  • Strong Tenant Mix | Anchors Include Verizon, ATI Physical Therapy, Maurices & Beltone
  • Adjacent to the Fairfield Memorial Hospital & Frontier Community College

OVERVIEW

Marcus & Millichap is proud to present the opportunity to acquire the fee simple interest in the Walmart Shadow Center in Fairfield, Illinois. The offering includes two multi-tenant retail centers totaling 17,465 square feet and positioned on 2.21 acres. The centers are shadow anchored by a Walmart behind it and are broken down to an 8,905 square foot six-tenant strip and an 8,560 square foot three-tenant strip. Walmart Shadow Center has a strong tenant mix with national tenants like Verizon, ATI Physical Therapy, Maurices and Belton Hearing Aids, as well as local tenants like La Fuente Mexican Restaurant and Panda Buffet. The current occupancy of the deal surpasses 93 percent providing an investment that is fully stabilized with upside in leasing the vacant suite. Most of the leases are triple net with the tenant reimbursing for their pro rata share of the expenses, however there is additional added value potential in converting La Fuente and Panda Buffet’s gross leases to triple net. Verizon Wireless just recently elected to renew their option early illustrating their success and commitment to this location, their lease now expires October 31, 2023. Walmart Shadow Center sits in front of the only Walmart in Fairfield and across the street from Frontier Community College. The Fairfield Memorial Hospital and the Wayne County Fairgounds are also across the street to the East adjacent to McDonald’s, Dairy Queen and Pizza Hut. There are several other national retailers nearby including, Dollar General, CVS and Subway. The Fairfield Municipal Airport is less than a quarter mile to the west of the Walmart Shadow Center. The subject property has immediate access to U.S. Route 45 and is in close proximity to Evansville, Indiana and St. Louis, Missouri.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

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TENANCY

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BUILDING DETAILS

PROPERTY NAME

Walmart Shadow Center

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

17465

STORIES

1

YEAR BUILT

2005

SPRINKLERS

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PARKING SPACES

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LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

05-02-005-005-02