Edgewood Plaza

Shopping Center for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30841932
Property Subtypes: Neighborhood Center, Strip Center
Building Size (RSF): 37,360 SF
Gross Building Area: See Agent
Sale Price: $1,750,000
Unit Price: $46.84 PSF
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 9/19/2023

Overview / Comments

We are pleased to bring to market Edgewood Plaza located at 115 Edgewood Plaza in Nicholasville, KY. This 37,360 SF (per PVA) shopping center is a three tenant center anchored Dollar General and Napa Auto Parts. This investment provides the unique opportunity for a value add investor to acquire a stabilized asset and reposition value by purchasing the property at a below replacement cost low basis ($46.84/SF), add term length, increase in place below market rents, and flipping lease structures to true NNN. The property has abundant parking and approximately 170 feet of South Main Street frontage.

Property Highlights:

• Substantially below replacement cost ($46.84/SF)
• Value add opportunity
• National credit anchors
• Lexington MSA
• Stabilized asset with 7% in place Cap Rate
• Contact Agents for financials

Attachments & Media

Additional Details

Nearest MSA: Lexington-Fayette
County: Jessamine
Tax ID/APN: 058-20-14-016.00
Area Description: Edgewood Plaza is located on the south side of downtown Nicholasville, KY at the corner of S. Main Street and Edgewood Drive. The shopping center has excellent visibility and accessibility to S. Main Street with traffic count of 15,206 (ADT). Trade area retailers/businesses include: Kroger, Cato, Ollie’s, Advance Auto Parts, Arby’s, Hardees, Dominos, Chase Bank, City National Bank, Big City Pizza + more. Nicholasville, KY is directly south of Lexington, KY (Kentucky’s second largest market) and part of it’s MSA.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,847 28,685 38,638
Median Age: 36.17 33.86 35.51
Households: 3,095 10,723 14,348
The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Moody's assume any liability for errors or omissions.