Cedar Creek Crossing

Shopping Center for Sale
Catylist Listing ID: 30851444
Property Subtypes: Net Leased, Strip Center
Building Size (RSF): 43,368 SF
Gross Building Area: See Agent
Gross Land Area: 8.86 Acres
Sale Price: $31,288,420
Unit Price: $721.46 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Cedar Creek Crossing
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 4/2/2024

Overview / Comments

Qualified investors are extended the opportunity to acquire the recently completed premier retail development, Cedar Creek Crossings, located at the core of the dominant Fern Creek trade area in Louisville, Kentucky.

In 2021, Louisville, Kentucky based Hogan Real Estate broke ground on this transformational development, a 100% pre-leased, neighborhood retail destination serving the thriving south central submarket of Louisville. With a total GLA of 43,368 square feet throughout six different buildings, the Property represents a diverse collection of exceptionally high-quality retail offerings including QSR, apparel, specialty service, and dining options. The demographics surrounding this premium development are among the strongest in the MSA, a densely populated and continuously growing suburban Louisville neighborhood with excellent housing inventory, acclaimed public schools, and a healthy retail trade area that provides goods and services for the 60,000 residents that live within a 3-mile radius of the site with an average household income in excess of $100,000. Strong demographics and growth have long contributed to the submarket’s vitality and some of the highest retail sales volumes in the MSA. With a weighted average lease term of 10 years and contractual base rental escalations for 100% of the tenants, Cedar Creek Crossing offers a secure income stream backed by a diverse mix of national tenants serving the demands of a highly-affluent, underserved trade area.

The offering includes 4 outlots and 2 multi-tenant retail centers on 8.86 acres. McDonald’s, Starbucks, Buff City Soap, Chipotle, Sleep Number, and Heartland Dental are located along the frontage lots along with an additional 24,681 square feet of premier inline retail space that was 100% leased at the time of delivery. Inline retailers include First Watch, HotWorx, Paint Nail Bar, Next Level Sports Nutrition, European Wax, Crumble, Tropical Smoothie Café, Park Community Credit Union, Chicken Salad Chick, Fleet Feet, and Lens Crafters.

Current Tenants

Tenant Business Name McDonald's
Is Renting? Yes
SF of Space Occupied 4,600 SF
Tenant Business Name Starbucks
Is Renting? Yes
SF of Space Occupied 2,000 SF
Tenant Business Name Buff City Soap
Is Renting? Yes
SF of Space Occupied 3,240 SF
Tenant Business Name Sleep Number
Is Renting? Yes
SF of Space Occupied 3,015 SF
Tenant Business Name Chipotle
Is Renting? Yes
SF of Space Occupied 2,332 SF
Tenant Business Name Heartland Dental
Is Renting? Yes
SF of Space Occupied 3,500 SF
Tenant Business Name Tract 6 Tenants
Is Renting? Yes
SF of Space Occupied 16,000 SF
Tenant Notes Tenants Include: First Watch, Hotworx, Paint Nail Bar, Next Level Sports Nutrition, European Wax Center, Crumbl Cookies, Tropical Smoothie Café, Park Community Credit Union
Tenant Business Name Tract 5 Tenants
Tenant Notes Tenants Include: Chicken Salad Chick, Fleet Feet, LensCrafters

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Taxing Authority: Jefferson County
Tax ID/APN: 064700320000
Zoning: C-1 - Commercial District
Retail Clientele: General, Family, Business, Traveler
Property Located Between: Bardstown Rd and I-265 (Gene Snyder Fwy)
Largest Nearby Street: Bardstown Road
Feet of Frontage: 720
Traffic/Vehicle Count: 50,000
Highway Access: I-265 (Gene Snyder Fwy)
Total Number of Buildings: 6
Property Condition: Excellent
Year Built: 2023

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,278 54,167 152,126
Median Age: 39.26 38.02 37.98
Households: 3,962 21,362 60,280

Contact

Photograph of Listing Agent

Justin R Phelps

Hogan Real Estate KCREA Member
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