Malone Plaza

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MALONE PLAZA
230 West Main St., Malone, NY 12953

PRICE $8,100,000
GLA 178,593 SF
PROPERTY TYPE Shopping Center
CAP RATE 9%
OCCUPANCY 79%
YEAR BUILT 1991
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OFFERING MEMORANDUM
FLYER

BRANDON HAKIMI
brandon@namdarllc.com
(516) 773-0080

DEMOGRAPHICS
Total Population
1 – mi. – 3,968
3 – mi. – 12,172
5 – mi. – 14,063
More info in the flyer

INVESTMENT HIGHLIGHTS

  • Kmart recently renewed their lease in May of 2016
  • Upside through lease up of vacant space (38,014 SF )
  • Quality retail asset with strong, stable in-place cash flow
  • Regional retail destination attracts consumers from vast trade area
  • Staggered lease expiration dates mitigates tenant rollover risk
  • Anchor tenant (Big K) has tenanted the property since 1991.
  • National tenants include Peebles, Joann Fabrics, Label Shopper, and Olympia Sports
  • Located along the heavily trafficked Route 11. This stretch of road is the main retail corridor in the area, with other long-term retailers such as Wal-Mart, Price Chopper, and Aldi.
  • The strip is located in Northern New York near the Canadian border, approximately 50 miles northwest of Plattsburgh. It is the only retail destination within a 25 mile radius, the closest competing retail corridors being in the towns of Plattsburgh and Massena (37 miles northwest).

City:Malone
State:NY
Square Feet:178,593 SF
Price:$8,100,000
Cap Rate:9%

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