Catylist ID: #30610849
Highlands Retail Center 7.31% Cap Rate
Retail-Commercial for Sale
|Catylist Listing ID:||30610849|
|Property Subtypes:||Restaurant, Street Retail, Tavern/Bar/Nightclub|
|Building Size (RSF):||3,267 SF|
|Gross Land Area:||0.10 Acres|
|Unit Price:||$229.57 PSF|
|Is Quick-Service Restaurant?||Yes|
|Property Use Type:||Investment|
|Building Name:||Legacy Retail Center|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
Overview / Comments
Located in the coveted 2200 block of Bardstown Rd @ Woodbourne Ave, across the street from Papa John’s and a block from the Highlands Kroger, is this 3,267 ft.² retail center containing the popular Eat A Pita and Left Field Lounge tenants.
With an average daily traffic count of over 20,000 cars per day, there is an average median household income of over $60,000 per year with a population of around 23,000 within a 5 minute drive radius.
This submarket contains an annual restaurant and bar disposable income expenditure of over $115,000,000.
This submarket contains an annual soft goods and apparel disposable income expenditure of over $27,000,000.
Total Income (monthly rent $5,300) = $63,600 annual.
- Property Tax = ~$4,700/ year
- State and City Taxes = ~$800/ year
- Encroachment bond for window awnings = $250/ year
- Property insurance - ~$3,000/ year
Total Expenses = $8,750
NOI = $54,850
Cap Rate 7.31%
|Nearest MSA:||Louisville/Jefferson County|
|Zoning:||C-2 - Commercial District|
|Property Located Between:||Woodbourne Ave & Dorothy Ave|
|Largest Nearby Street:||Bardstown Rd|
|Feet of Frontage:||82|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Typical SF / Floor:||3,267 SF|
|Proximity:||1 mile||3 miles||5 miles|
Gant B HillGant Hill & Associates, LLC KCREA Member
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