Neighborhood Shopping Center - 100% Occupied

Shopping Center for Sale
Also listed as Retail-Commercial, Office
Catylist Listing ID: 30794385
Property Subtypes: Neighborhood Center, Strip Center
Building Size (RSF): 4,240 SF
Gross Land Area: 0.60 Acres
Sale Price: $550,000
Unit Price: $129.72 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 6/29/2022

Overview / Comments

This strip center is well positioned in Shepherdsville, Kentucky just south of the Jefferson County line, with six retail/ office units, currently configured to support four tenants with 100% occupancy. The tenants are long term and rents are below market presenting a buyer with significant upside.

This center has been well maintained. The parking lot was recently re-paved. The roof is only a couple of years old but there was variation in one of the lots of shingles causing discoloration and the roofing company has agreed to replace the front half of the building to make the shingles match properly. This will be completed prior to closing.

With little to no inventory in this market for comparable stable retail centers, this property is well positioned for investor purchase. The center offers good frontage along three roadways, including Preston Highway, low maintenance and other desirable attributes. Enjoy this cash flowing asset priced reasonably considering the upside potential! Property tours available upon request but will require 48 hour notice to tenants.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Bullitt
Tax ID/APN: 044-000-00-039A
Zoning: B1 - Highway Business
Retail Clientele: General, Family
Property Located Between: Preston Highway, W. Hebron Lane and Lodie Drive
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Parking Type: Surface
Total Parking Spaces: 25

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,286 29,718 76,928
Median Age: 47.66 38.12 37.07
Households: 1,286 11,305 29,130

Contact

Photograph of Listing Agent

Amanda Helfrich

Homepage Realty KCREA Member
Photograph of Listing Agent

Kristy Barbour

Homepage Realty KCREA Member
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