Market Analysis - Retail Demand

Catalyst2015StudiedArea.jpg
In 2015, Pottawatomie County Economic Development Corporation retained Catalyst Commercial Inc. to conduct a Market Analysis on the above region.  The results show that there is high demand for retail expansion in Pottawatomie County.  The residents, students, workforce, commuters, and visitors demand enough retail to support an additional 306,998 Square Feet of retail space. 76% of this comes from residential generated retail demand, 222,000 square feet. Workforce is the second largest retail generator from 65,000 square feet of unmet student demand.

This demand can take advantage of the prime location along Highway 24 and Heritage Square, and serves the Greater Manhattan area as well as Wamego and Pottawatomie County. The highest demand in this area includes: neighborhood uses, grocery stores, general merchandise, restaurants, pharmacy, and home improvement goods.

These findings are in line with the Highway 24 Corridor Plan estimated a retail demand of 255,000 to 300,000 square feet.

Check out the tables below to see exactly what categories of retail are most in demand.

Total Demand

Source: Catalyst Market Analysis, 2015.
Category Student Workforce Commuter Residential Total
General Merchandise Stores - 8,172 298 142,616
151,086
Office Supplies, Stationery, & Gift Stores - 65,797 199 839 66,834
Grocery Stores 2,633 1,524 565 21,243 25,965
Gasoline Stations - 15,297 2,630 2,725 20,652
Department Stores Excluding Leased Depts. - 12,573 199 7,595 20,367
Health & Personal Care Stores 1,745 4,235 199 4,142 10,320
Limited-Service Eating Places 1,493 2,724 473 4,950 9,640
Full-Service Restaurants 1,648 5,378 334 1,817 9,178
Clothing Stores 747 2,095 217 4,906 7,965
Other Miscellaneous Store Retailers - - - 6,619 6,619
Electronics & Appliance Stores 395 1,597 199 3,653 5,843
Bldg Material & Supplies Dealers -- - - 5,339 5,339
Shoe Stores 1,369 908 397 2,507 5,181
Jewelry, Luggage, & Leather Goods 652 3,073 189 503 4,417
Auto Parts, Accessories, & Tire Stores 2,142 - 158 1,105 3,405
Furniture - - - 2,895 2,895
Sporting Goods/Hobby/Musical Instr Stores - 2,026 199 635 2,860
Lawn & Garden Equip & Supply Stores - - - 2,749 2,749
Other Motor vehicle Dealers - - - 1,225 1,225
Used Merchandise Stores - - - 765 765
Book, Periodical, & Music Stores - - - 753 753
Special- Food Services - - - 744 744
Specialty Food Stores - - - 727 727
Drinking Places - Alcoholic Beverages - - - 579 579
Home Furnishings Stores - - - 303 303
Beer, Wine, & Liquor Stores - - - 133 133
Florists - - - 18 18
Total Demand (SF) 12,825 65,797 6,256 222,082 306,998

Generated Demand - Residential

Source: Catalyst Market Analysis, 2015.
Category 0-3 Miles 3-5 Miles 5-10 Miles 10-20 Miles Total (SF)
General Merchandise Stores 34,343 79,249 20,606 8,417 142,616
Grocery Stores 6,201 11,363 3,679 - 21,243
Department Stores Excluding Leased Depts. - 4,995 - 2,601 7,595
Other Miscellaneous Store Retailers - 4,096 1,951 572 6,619
Bldg Material & Supplies Dealers - 4,715 - 624 5,339
Limited-Service Eating Places - - 3,392 1,557 4,950
Clothing Stores - - 3,596 1,310 4,906
Health & Personal Care Stores - - 2,234 1,907 4,142
Electronics & Appliance Stores - - 2,678 975 3,653
Furniture Stores - 1,602 675 617 2,895
Lawn & Garden Equip & Supply Stores - 1,222 933 373 2,749
Gasoline Stations - - 2,725 - 2,725
Shoe Stores - - 1,787 720 2,507
Full-Service Restaurants - - 1,392 425 1,817
Other Motor Vehicle Dealers - - 738 487 1,225
Auto Parts, Accessories & Tire Stores - - 88 217 1,105
Office Supplies, Stationery & Gift Stores - - 627 211 839
Used Merchandise Stores - - 674 91 765
Book, Periodical & Music Stores - - 528 225 753
Special Food Services 669 - 7 68 744
Specialty Food Stores - - 582 146 727
Sporting Goods/Hobby/Musical Instr Stores - - 174 461 635
Drinking Places - Alcoholic Beverages 551 - - 28 579
Jewelry, Luggage & leather Goods Stores - - 347 156 503
Home Furnishings Stores - - 87 216 303
Beer, Wine & Liquor Stores - - - 133 133
Flourists - - 12 6 18
Total Demand (SF) 41,984 107,242 50,311 22,545 222,082

Generated Demand - Workforce

Source: Catalyst Market Analysis, 2015.
Category Percent of Total Weekly Expected Annual Expected Demand (SF)
Gasoline Stations 21.9% $91,782 $4,589,079 15,297
Other General Merchandise Stores 12.0% $50,291 $2,514,564 12,573
Health & Personal Care Stores 11.7% $49,034 $2,451,700 8,172
Grocery Stores 9.6% $40,233 $2,011,651 4,235
Full-Service Restaurants 8.1% $33,947 $1,697,331 3,994
Limited-Service Restaurants 7.7% $32,270 $1,613,512 5,378
Office Supplies, Stationary & Gift Stores 4.4% $18,440 $419,094 2,200
Department Stores 3.9% $16,345 $817,233 2,724
Electronics & Appliance Stores 2.9% $12,154 $607,686 2,026
Jewelry, Luggage & Leather Goods Stores 2.4% $10,058 $502,913 1,597
Enterntainment 2.1% $8,801 $440,049 2,200
Clothing Stores 2.0% $8,382 $419,094 1,524
Shoe Stores 1.5% $6,286 $314,321 2,095
Sporting Goods/Hobby/Musical Instr Stores 1.3% $5,448 $272,411 908
Total 91.5% $388,471 $19,173,551 65,797

Generated Demand - Student/Visitor

Source: Catalyst Market Analysis, 2015.
Category Percent of Total Percent Spent Off Campus Annual Expected Demand (SF)
Grocery Stores 18.0% 92% $1,250,711 2,633
Electronics & Appliance Stores 15.7% 10% $118,551 395
Auto Parts, Accessories & Tires Stores 15.0% 95% $1,071,145 2,142
Full-Service Restaurants 11.2% 83% $700,545 1,648
Health & Personal Care Stores 10.7% 65% $523,492 1,745
Entertainment 8.7% 7% $45,908 -
Limited-Service Eating Places 6.8% 88% $447,916 1,493
Clothing Stores 3.7% 73% $205,381 747
Shoe Stores 3.7% 73% $205,381 1,369
Jewelry, Luggage & Leather Goods 3.7% 73% $205,381 652
Total 97.2%   $4,774,433 12,824

Generated Demand - Commuter

Source: Catalyst Market Analysis, 2015.
Category Percent of Total Weekly Expected Annual Expected Demand (SF)
Gasoline Stations 38% $15,781 $789,063 2630
Grocery Stores 13% $5,366 $268,281 565
Full-Service Restaurants 7% $2,841 $142,031 334
Limited-Service Restaurants 7% $2,841 $142,031 473
Auto Parts, Accessories & Tires Stores 4% $1,578 $78,906 158
Department Stores 3% $1,192 $59,618 199
Other General Merchandise Stores 3% $1,192 $59,618 158
Health & Personal Care Stores 3% $1,192 $59,618 298
Clothing Stores 3% $1,192 $59,618 199
Shoe Stores 3% $1,192 $59,618 217
Sporting Goods/Hobby/Musical Instr Stores 3% $1,192 $59,618 199
Electronics & Appliance Stores 3% $1,192 $59,618 199
Jewelry, Luggage & Leather Goods Stores 3% $1,192 $59,618 189
Office Supplies, Stationary & Gift Stores 3% $1,192 $59,618 199
Other 5% $2,209 $110,496  
Total 100% $41,341 $2,067,344 6,256