1510 Harlan DrBellevue, NE 68005

For Sale
Call for price

Grocery-anchored center, strong tenant mix

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 155,971 square foot shopping center in Bellevue, Nebraska, presents a compelling value-add investment opportunity. Located at 1510 Harlan Dr, 68005, this fee-simple property boasts a diverse tenant roster of 11 businesses, including a Family Fare grocery store, AutoZone, and Harbor Freight. The center features six buildings on a 14.18-acre lot, constructed in 1972 with renovations in 2007 and 2015. Currently operating at 93.26% occupancy since June 15, 2008, the property offers significant upside potential. The Family Fare lease, with a corporate guarantee from SpartanNash, is significantly below market rent, providing a substantial opportunity to increase revenue. An additional 10,506 square feet of vacant space is available for lease. All tenants are on NNN leases, with most reimbursing for non-capital expense repairs and maintenance, and management fees. A recently signed 10-year NNN lease with Harbor Freight further strengthens the property's performance and attractiveness. The property's strong tenant lineup, including national brands comprising 75% of the gross leasable area and over 70% of revenue, ensures a stable income stream. This multi-tenant property offers a seven-year remaining lease term and presents a rare chance to acquire a well-positioned, income-producing asset with considerable growth potential. The property consists of six single-story buildings. APN numbers are 11618383

Highlights

  • Family Fare's significantly below-market rent offers substantial future revenue growth potential.
  • 10,506 square feet of vacant space presents a significant leasing upside.
  • NNN leases with most tenants covering non-capex repairs, maintenance, and management fees.
  • A new 10-year NNN lease with Harbor Freight signifies strong leasing momentum and increased property traffic.
  • The Family Fare lease includes a full corporate guarantee from SpartanNash (Nasdaq: SPTN).

Property Details for 1510 Harlan Dr

Property type
Lifestyle centers, Power centers
Square Feet
155,971 SF
Year Built
1972
Buildings
6
Stories
1
Lot Size (sq. ft)
617,681 SF
Units
6

Location Insight

City
Bellevue
County
Sarpy
State
Nebraska
Latitude
41.141851
Longitude
-95.9131238
1510 Harlan Dr, Bellevue, Nebraska

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1510 Harlan Dr
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