Catylist ID:
#30841932
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 |
| Zoning: | COMMERCIAL |
| 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. |
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. |
