South Parkersburg Plaza

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930 Division St.
Parkersburg, WV

Price: $4,670,000

Cap: 7.75%

NOI: $361,918

Building Size: 61,184 SF

Lot Size: 4.07 AC

Investment Highlights

GROCERY ANCHORED SHOPPING CENTER

• The subject property is a 61,184 square foot retail center anchored by Kroger and located on the West Virginia/Ohio border in Parkersburg, WV

• Priced well below replacement cost at $76.13/SF

• Average Rent: $6.80

• No major grocery competition

STRONG KROGER ANCHOR

• The Kroger Co. is the largest supermarket chain by revenue, the second-largest general retailer, and the seventeenth largest company in the United States with over 2,765 locations accumulating $137.9B in revenue during fiscal year 2020 and ranking #24 on the Fortune 500’s largest United States Corporations

• Kroger has been in this location for 42 years since the center was built in 1981

• Kroger’s Rent is $5.82/SF

• Tenant executed renewal recently extending lease until 2032

LIMITED GROCERY COMPETITION

• No other major grocers in this corridor

• Piggly Wiggly & Save-A-Lot only other grocers in this corridor

• Kroger has the most visits of any grocer store in this pocket of South Parkersburg

PARKERSBURG, WEST VIRGINA

• Parkersburg is located at the confluence of the Ohio and Little Kanawha rivers, at the cross roads of Interstate 77 and US Route 50

• Positioned on the West Virginia/Ohio Border

• Nestled among scenic hills and valleys, the city is a short distance drive 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.

• Given Parkersburg’s central location and accessibility, the City has seen an increase in development as it relates to oil and gas explorations. As a result 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.

• Parkersburg (and the greater Mid-Ohio Valley) is home to multiple industries such as plastics, oil and gas exploration and manufacturing.

OFFERING MEMORANDUM

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