Retail Investment Property

Shopping Center for Sale
Catylist Listing ID: 30675445
Property Subtypes: Neighborhood Center
Building Size (RSF): 18,150 SF
Gross Building Area: 19,465 SF
Gross Land Area: 2.20 Acres
Sale Price: $950,000
Unit Price: $52.34 PSF
Property Use Type: Investment
Building Name: Highview Plaza Shopping Center
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/26/2021

Overview / Comments

Highview Plaza Shopping Center for sale
Located in Highview, in the southeast part of Louisville Metro, this center has been in one family for over 50 years.

Very low historical vacancy rates, this center is almost always full. Owners are selling in advance of estate planning.

CAP rate is 8.4%

Center consists of
Three buildings on 2.2 acres
Zoned PDD
Constructed in the 1960's
Brick veneer, over CMU block for most.
Roofs all new since 2013, with 25 year warranty
80 parks

Full financials available upon signing NDA (CA).
Copy and paste to browser:
https://www.crexi.com/properties/527158/kentucky-highview-plaza-shopping-center

New apartments currently under construction contiguous to property. 192 units.
First building filled up within weeks of finish!

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 064500480000
Zoning: PDD - Planned Development District
Retail Clientele: General, Family
Property Located Between: Vaughn Mill Road and South Watterson Trail
Property Visibility: Good
Largest Nearby Street: Outer Loop

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,180 90,664 215,759
Median Age: 40.39 37.22 37.68
Households: 5,677 36,087 87,473
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