Vacant KMart | Big Box Redevelopment Opportunity
Parkersburg, WV
Price: $4,207,700Cap Rate: N/ABuilding SF: 84,154 SFLot Size: 8.82 AcresYear Built: 1973Status: Available

Investment Highlights: 

Co-Tenant with Kroger Grocery Store (Recently Remodeled) – Strong Co-Tenants McDonald’s, Advance Auto, Boost Mobile, Little Caesar’s – “Built-in” Draw to the Center  – The Property was formerly leased by Kmart and sits as a co-tenant with a Kroger grocery store that is located immediately adjacent to the Kroger within the shopping center. Other co-tenants within the shopping center include McDonald’s, Advance Auto Parts, Little Caesars, and Boost Mobile, offering a “built-in” draw to the shopping center.

Located at Intersection of SR-95 & SR-14 (14,000 CPD) – Excellent Visibility – Multiple Entry Points Offer Easy In/Out Access – The subject property offers frontage at the intersection of Division St/SR 95/Dupont Rd and Blizzard Dr/SR 14 offering outstanding access and excellent visibility to 14,000+ cars per day. The location offers multiple entry points, allowing for easy in/out access to the property.

Located on Major Corridor – Benefits from Commuter Traffic – Close Proximity to Schools & Residential – State Route 95 is a strong commuter corridor for residents traveling to/from downtown Parkersburg and a travel connector via SR 14 to Interstate 77 for access to Charleston (111 miles south). Nearby national retailers include Kroger, AutoZone, Family Dollar, O’Reilly Auto Parts, Advance Auto Parts, Little Caesar’s, McDonald’s, Rite Aid, Big Lots, and more.

Located in City of Parkersburg – Major Population & Employment Center for the Region – The subject property is located in Parkersburg, the county seat of Wood County in north West Virginia. Located at the confluence of the Ohio and Little Kanawha Rivers, Parkersburg and the greater Mid-Ohio Valley is located at the cross roads of Interstate 77 and U.S. Route 50. Nestled among scenic hills and valleys, the city is a short driving distance to major metropolitan areas including Pittsburgh, PA, Columbus, OH and Washington, D.C., and is the major population and employment center for more than 160,000 people in the metropolitan area. 

Increase in Development – Positive Impacts to Economy – Home to Dupont, Highmark, United Bank, Woodcraft – Given Parkersburg’s central location and accessibility, the City has seen an increase in development as it relates to oil and gas explorations. As such, the City has seen positive impacts to the local economy, including increased demand for business services, competitive real-estate market and higher hotel occupancy rates. With competitive B&O tax rates, tax incentives and rebate programs available to businesses that move into the city, opportunities for economic development abound.

Parkersburg (and the greater Mid-Ohio Valley) is home to multiple industries such as plastics, oil and gas exploration and manufacturing. The region also boasts a solid work ethic from employees, with most businesses enjoying lower-than-average turnover rates. In addition to well-known companies such as DuPont, Highmark, United Bank and Woodcraft, the area is also home to the United States Treasury Department The Bureau of Fiscal Services, which employs more than 2,000 local individuals..

 


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977