They are always leased here even for the corporate stations where they have a convenience store, a Popeyes or the like and a car wash.

I have my personal emergency fund stored away in a HYSA, and am working to build up a15k property reserve as well, but am conflicted on where to keep that 15k. 

REPSTracker on the App Store

So we're wondering if we'd get more by selling when they look great/fresh?

Purchased for $139,999 using a mix of cash and hard money, we revamped it with modern updates, including a new kitchen, flooring, and fresh paint.The property rented for three years, generating steady cash flow of $450/month.

There would potentially be some weight issues with the 2nd+ floors of some shopping malls, depending on what the potential tenant wants to store in the upstairs unit. 

Quote from @Fernando Martin-Gullans: Hey y’all, I’m a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I’m not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC).

In Franklinton there are plenty of large projects going on that will bring massive growth to the west side of Columbus, such as the Peninsula Development, which is a multiphase project that will erect a 24 story apartment complex featuring a grocery store, a multi use office space building, and a new hotel featuring a two-story venue. 

A home (whether primary or investment) in my eyes is considered as a savings account once you own it - a store of wealth. 

Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum.