130 66Th St Lincoln, NE 68505

Property Details for 130 66Th St

Property size

214,029 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

East Park Plaza, a 214,029 square foot shopping center in Lincoln, Nebraska, presents a compelling value-add opportunity. Currently 83.6% occupied, this multi-tenant property boasts a strong NOI of $1,758,255. The center is anchored by Russ's Market, a high-performing regional grocer, and features a diverse tenant mix including JoAnn, Ross Dress for Less, and Famous Footwear. Located on a primary commercial thoroughfare, the property benefits from its proximity to Gateway Mall, a major regional shopping destination, drawing significant foot traffic. The tenant lineup includes a mix of established national brands and local businesses, demonstrating strong tenant retention and recent leasing activity, with a weighted average lease term of 5.4 years. Nearly 45% of the gross leasable area has operated at the center for over 20 years. The property serves a densely populated area with over 209,800 residents within a five-mile radius, boasting an average household income of $88,200. The presence of the University of Nebraska-Lincoln further enhances the market's vibrancy and consumer base. Significant value-add potential exists through leasing currently vacant spaces and potential property replatting. This grocery-anchored shopping center offers a stable income stream with substantial upside for the right investor.

Location Insight

City

Lincoln

County

Lancaster

State

Nebraska

Longitude

-96.6288

Latitude

40.8143