Pinecrest Plaza

Shopping Center for Sale
Catylist Listing ID: 30094814
Property Subtypes: Strip Center
Building Size (RSF): 179,655 SF
Gross Building Area: See Agent
Gross Land Area: 15.92 Acres
Sale Price: $6,000,000
Unit Price: $33.40 PSF
Property Use Type: Investment
Building Name: Pinecrest Plaza
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/16/2017

Overview / Comments

This 179,655 SF shopping center is priced below replacement cost. Anchored by Tractor Supply and Goody's, Pinecrest Plaza offers an excellent cash on cash return and upside through lease-up of vacant square footage. Located at the intersection of I-64 and Flemingsburg Road (the major retail road in the region), Pinecrest Plaza is in close proximity to other area retail centers. Visitors and students attending Morehead State University use this interstate exit and are thus routed directly in front of Pinecrest Plaza, the closest large retail center to the university.

Attachments & Media

Additional Details

Nearest MSA: Mount Sterling
County: Rowan
Zoning: B-2
Area Description: Located in Morehead, Kentucky, the county seat of Rowan County and home of Morehead State University (enrollment 11,000). Pinecrest Plaza is at the intersection of I-64 and Flemingsburg Road.
Year Built: 1988
Parking Type: Surface
Total Parking Spaces: 615

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 7,508 15,524
Median Age: 25.68 31.31
Households: 2,451 5,762

Source

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