Sutherlands' store has been closed since late 2014

In an effort to make its Hannibal property more marketable Sutherlands has dropped its asking price by over one-half million dollars.

George Walley, executive director of the Northeast Missouri Economic Development Council, reports that the Kansas City-based company has dropped the price by $550,000, from $2.5 million to $1.95 million.

While the price Sutherlands paid ShopKo for the site was never disclosed, according to a flyer circulated regarding the ShopKo building in 2003 the asking price then was $3 million.

Despite having its own real estate department, Sutherlands signed a commercial listing agreement in late 2017 with Central Realty of St. Louis to market the building and property so that it could be sold or leased.

While Central has shown the property on multiple occasions to prospective investors, it is not known how serious negotiations ever got.

According to the property’s listing at Central Realty’s website - central-realty.com - the building features approximately 80,880 square feet and is located on 8.28 acres. While the property description says the “space presents the opportunity to large retail space users” it also suggests it could be divided.

Also noted is its approximately 355 feet of frontage, plus an undeveloped outlot.

Located at 4415 McMaster’s Avenue, Sutherlands’ property in Hannibal overlooks McMaster’s Avenue (U.S. 61) and is near the highway’s intersection with Stardust Drive and Pirate Pride Drive. Regarding its location, it is pointed out that the real estate is located along the “most active retail corridor in the area,” with a traffic count of 25,256 vehicles per day, according to information gathered by the Missouri Department of Transportation in 2015.

Sutherlands closed its Hannibal store in late 2014. It is not the first time the building has stood vacant for an extended period of time. Before Sutherlands announced in early June 2004 that it had purchased the property from the ShopKo Corporation the building had been empty since mid-April 2001.

Reach reporter Danny Henley at danny.henley@courierpost.com