Bittersweet Shopping Center For Sale

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30790038
Property Subtypes: Retail-Pad, Street Retail
Status: Pending
Building Size (RSF): 79,737 SF
Gross Building Area: See Agent
Gross Land Area: 6.82 Acres
Sale Price: $3,999,000
Unit Price: $50.15 PSF
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/16/2022

Overview / Comments

Bittersweet Shopping Center is a locally owned former grocery anchored turned neighborhood shopping center. Purchased by the Hartford Family in 1998 this center has been family only and operated since.

Qualified investors are extended the opportunity to purchase this legacy asset. The property is anchored by Dollar General, Rally’s, The Job Center, and Home Center Trading Corporation d/b/a as Elegance Furniture. This shopping center is situated on nearly 7 acres of land with over 600 feet of front along Preston Highway and has signalized entrance directly into the parking field.

Bittersweet offers a diverse mix of everyday retail and service retail tenants. Many of the legacy tenants in this center have operated out this center for over 15+ years.

Value add seeking buyers will quickly be intrigued with the rent roll and lease terms. They feature many tenants with expired leases still operating profitably at significantly below market lease rates thus providing immediate upside for investors to increase rents, convert tenant leases to NNN from gross, extending lease terms, and increase stability to the center.

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Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 0652SROW0000
Zoning: C-1 - Commercial District
Retail Clientele: General, Business
Largest Nearby Street: Preston Highway
Feet of Frontage: 610
Traffic/Vehicle Count: 28,900
Highway Access: I-65 & I-265
Airports: SDF
Site Description: Neighborhood retail shopping center.
Area Description: General business.
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Good
Year Built: 1976
Year Renovated: 2021
Roof Type: Flat
Exterior Description: Brick with metal siding. Flat roof.
Parking Description: Ample parking
Interior Description: Various retail spaces each built out to their uses specifications.
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Of Record
Legal Description: Of Record

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,982 78,980 182,997
Median Age: 39.15 35.98 36.75
Households: 5,629 31,118 73,169
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