Bank Owned Retail Investment Opportunity

Retail-Commercial for Sale
Sale Pending/Contingent
Also listed as Office
Catylist Listing ID: 30622059
Status: Pending/Contingent
Building Size (RSF): 9,600 SF
Gross Building Area: See Agent
Sale Price: $1,195,000
Unit Price: $124.48 PSF
Has Drive-Thru? Yes
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/16/2020

Overview / Comments

This bank-owned retail opportunity is located in a fast developing sub market in Southern Indiana. Situated in an established location on 10th Street, this newer construction center is a 9,600 sf value-add opportunity. Papa Murphy’s is currently a tenant, and the remainder of the property is vacant and ready for lease-up.

The property is at the gateway to one of the most actively growing corridors in the Louisville MSA with close proximity to River Ridge Commerce Center, as well as both mature and newer retail development. An investor will enjoy purchasing well below replacement cost and achieving great upside through further lease up.

>> High exposure retail center; approx. 10 years old
>> Ample parking, great traffic, and existing drive-thru
>> Surrounded by quality, long term commercial users
>> Located just minutes from River Ridge and new retail development

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Clark
Tax ID/APN: 10-19-02-200-334.000-009
Property Visibility: Excellent
Tenancy: Multiple Tenants

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,713 54,572 145,020
Median Age: 36.5 38.55 39.36
Households: 4,979 22,448 61,018
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