Highly Desirable East End Shopping Center and Out Parcels For Sale

Shopping Center for Sale
Also listed as Vacant Land, Retail-Commercial
Catylist Listing ID: 30660519
Property Subtypes: Free-Standing Store, Mixed Use, Neighborhood Center, Net Leased, Strip Center, Other
Building Size (RSF): 21,100 SF
Gross Building Area: See Agent
Gross Land Area: 0.86 - 5.95 Acres
Sale Price: $735,690 - 7,990,940
Unit Price: $34.87 - 378.72 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Building Name: Anchorage Landmark
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Last Updated: 1/12/2021

Overview / Comments

Anchorage Landmark is a prime located retail/mixed use property that features an approximately 21,100 SF stabilized strip center and four separately deeded outparcels ready for development. The strip center boasts a variety of primarily service-based retail and restaurant tenants, including Mi Tierra Mexican Restaurant, Sign A-Rama Northeast Louisville, New Direction Bar & Grill, Juice Box Vapor Company, and East End Barber Shop. The site offers excellent access off of LaGrange Rd and Chamberlain Ln with direct visibility from the I-265 off ramp at Exit 30: KY-146 (LaGrange Rd). It is located at the signalized intersection of LaGrange Rd and Chamberlain Ln where traffic counts exceed 28,000 vpd.

Pricing is based on a 8.0% cap rate for the shopping center and market value for the outparcels. Seller prefers to transfer entire asset, but will consider a separate sale of the shopping center and the outparcels.

There is an approved development plan in place for the outparcels at 2600 & 2604 Chamberlain Ln. The plan includes the annexation of a portion of Old Lagrange Rd into the property. This additional are is not included in the lot sizes indicated in the listing. Plan available upon request.

Pricing Detail:
Shopping Center (2632 Chamberlain Ln) 1.88 acres: $5,030,490.00
Outparcel 1 (2600 Chamberlain Ln) 1.1641 acres: $800,000.00/acre
Outparcel 2 (2604 Chamberlain Ln) 0.9681 acre: $800,000.00/acre
Outparcel 3 (2632 Chamberlain Ln) 0.8650 acre: $600,000.00/acre
Outparcel 4 (2636 Chamberlain Ln) 1.0740 acres: $685,000.00/acre

-> Excellent Frontage & Visibility
-> Heavily Trafficked, Signalized Intersection
-> Immediate Access & Direct Visibility to I-265
-> Ample Signage Opportunities
-> Close Proximity to Ford Heavy Truck Plant, Eastpoint Office Park, Kroger

Property website: https://buildout.com/website/AnchorageLandmark

For additional information, please request a confidentiality agreement from a listing agent.

Interested parties may also request the Confidentiality Agreement under the "Documents" tab, by visiting the following website: https://buildout.com/website/AnchorageLandmark

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 001505990000
Zoning: C-1 - Commercial District
Retail Clientele: General, Family, Business, Traveler, Other
Property Located Between: Chamberlain Lane and LaGrange Road
Property Visibility: Excellent
Largest Nearby Street: LaGrange Road
Traffic/Vehicle Count: 28,000
Highway Access: Gene Snyder Freeway (I-265) Exit 30: KY-146 (LaGrange Road) Anchorage/Peewee Valley (North 0.2 mi)
Airports: SDF
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 21,100 SF
Property Condition: Excellent
Year Built: 2004
Roof Type: Gable
Construction/Siding: Brick
Parking Type: Surface
Zoning Description: C-1 & C-M

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,454 57,725 127,615
Median Age: 32.46 39.16 40.32
Households: 1,030 22,650 51,443
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