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12931-13079 W Center Rd, Omaha, NE for Sale
Retail - FOR SALE
1/4
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12931-13079 W Center Rd
Omaha, NE 68144
Westwood/South Southwest


OVERVIEW

Marshalls, HomeGoods, Wall-To-Wall Wine & Spirits Anchored Community Center | TJX & Hy-Vee Credit | Marshalls & HomeGoods Recent Early Extensions Thru 2034 Montclair on Center is a 195,149 square-foot community center in Omaha, NE anchored by Marshalls, HomeGoods, Wall-To-Wall Wine & Spirits (Hy-Vee), The Tile Shop and Skechers – with both Marshalls and HomeGoods having recently executed early extension taking their lease term out an additional 7 years each thru 10/2034. Currently 96.27% leased, Montclair on Center also features a synergistic mix of small-shop tenants such as Schlotzky’s, Brueggers Bagels, and Scooters Coffee to name a few. Marshalls and HomeGoods Operating at ~4% Occupancy Cost | Increasing Sales Strong Leasing Momentum | Nearly 6 Years Weighted Avg Lease Term (WALT) The Property has experienced strong recent leasing momentum, in addition to the recent early extensions with Marshalls and HomeGoods, with the opening of Wall-To-Wall Wine & Spirits in 2021 on a 10-YR NNN lease, as well as recent anchor extensions with The Tile Shop, Skechers, and Zurchers (former Party City). Nearly 50% of Rental Revenue is comprised from Marshalls, HomeGoods, Wall To Wall Wine & Spirits (Hy-Vee), The Tile Shop and Skechers Highly Desirable Demographics – 5-mile Population: 240,000. AHHI: $110,000. The Property sits in a sought-after and dense pocket of the Omaha MSA – less than 12 miles away from downtown Omaha (Largest city in Nebraska). It benefits from desirable demographics in the surrounding area, featuring an ultra-dense population of more than 240,000 residents within a 5-mile radius boasting average household incomes of nearly of $110,000. Outstanding Location at Highly Trafficked Intersection – Over 50,000 VPD Montclair on Center benefits from excellent visibility and access featuring convenient ingress/egress with one signalized entrance off W Center Rd (28,000 VPD). The Property sits the hard corner of W Center Rd (28,000 VPD) and S 132nd St (24,000 VPD) providing significantly daily combined traffic counts of more than 50,000 VPD. Immediate Lease-up Opportunity to Increase Cash Flow | 2 Readily Leasable Units +1,000 SF With 1,700 square-feet of readily leasable vacancy comprised between 2 units, the Property provides an investor with the immediate opportunity to increase cash flow via the lease-up of these readily leasable second-generation vacancies. Value Extraction Opportunity via Spinning Off the 4 Pads & Schlotzsky’s Anchored Strip Center Individually An investor is provided with the opportunity to extract value, lower their basis, and drive additional yield by selling off the 4 pad sites, including the standalone Bruegger’s & Scooters Coffeehouse, and the Schlotzsky’s anchored strip center individually at lower going-in yields than where the Property is acquired. Broker of Record Kyle Matthews License No. 35320 (NE)

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Montclair on Center

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

1194

LAND DETAILS

CROSS STREETS

SEC 132nd & W. Center Rd.

LAND ACRES

8.57 AC

LAND SF

373,240 SF

ZONING

CC

APN/PARCEL ID

3218-4674-25

ASK ABOUT THIS PROPERTY

Kyle MatthewsMatthews Real Estate Investment ServicesMore Info
866-889-0550

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Kyle MatthewsMatthews Real Estate Investment ServicesMore Info
866-889-0550

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.