Beulah Church Shopping Center

Shopping Center for Sale
Catylist Listing ID: 30247045
Property Subtypes: Grocery-Anchored, Neighborhood Center, Strip Center
Building Size (RSF): 72,250 SF
Gross Building Area: See Agent
Sale Price: $7,400,000
Unit Price: $102.42 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Last Updated: 10/12/2018

Overview / Comments

In 2007 the Seller began converting this former single tenant Kmart building into the thriving multi-tenant grocery anchored neighborhood center that it is today. Dollar Tree, the Louisville Department of Motor Vehicles and two high performing restaurants keep this center busy day and night. Grocery anchor tenant Price Less Foods is a subsidiary of Houchens, Inc., which is one of the top 100 employee owned businesses in the U.S. with over $3.3 billion in annual revenue. Houchens also operates grocery chains, IGA and Save-A-Lot. Southeast Louisville is the fastest growing area in the Louisville MSA with many new residential developments under construction and recently announced. Beulah Church Shopping Center is conveniently located a half mile off the I-265 beltway and serves a large trade area to the Southeast. Louisville, Kentucky's largest city, is situated on the Ohio River along the Indiana border. Every May Churchill Downs hosts the Kentucky Derby. Baseball is celebrated at the Louisville Slugger Museum and Factory, where Major League bats are produced and a giant baseball “Slugger" marks the entrance. Louisville is also home to the air hub for UPS, is the headquarters for Papa Johns, YUM Brands, Humana, and has two large Ford manufacturing Plants for both light and heavy trucks.

Financials

Finance Data Year 2018
Net Operating Income $592,873 (Annual)

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 064602560000
Zoning: C-1 - Commercial District
Year Built: 1981
Year Renovated: 2007
Roof Type: Flat

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,578 79,517 204,307
Median Age: 39.29 37.2 37.22
Households: 3,791 31,043 81,538

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