Meridian Way Properties

Vacant Land for Sale
Catylist Listing ID: 30294036
Property Subtypes: Office
Gross Land Area: 5.07 Acres
Sale Price: $2,350,000
Unit Price: $463,510 Per Acre
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 11/26/2018

Overview / Comments

Two development opportunities off Exit 87, I-75 in Richmond. Meridian Way is next the main retail corridor in Richmond, known as Richmond Centre and home to Meier, JC Penney, Dick's Sporting Goods, TJ Maxx, Petsmart, Home Goods COMING in 2018, and many more. A number of fast casual, and casual dining establishments in this area. Meridian Way also boasts a local retail & office use strip center, Heritage Place and a Regional Health care office with Baptist Health, and is the entryway to a new starter home community backed by a national assisted living center from 2016. Meridian Way has 1.5 acres of frontage to Barnes Mill Road and it's best use for additional Dining or retail outparcel use with cross parking easements in place. Meridian Way also has a 3.57 acre parcel that is the mirror image of the parcel with the 10,000 sf Baptist Health office on it.

Additional Details

Nearest MSA: Richmond-Berea
County: Madison
Zoning: B-3
Site Description: Exit 87 or Barnes Mill Road B-3 zoned Development opportunities 1.5 acre parcel, retail or restaurant use ideal Cross Parking easements in place with Heritage Place 3.57 acre Office parcel next to existing 10,000 sf Office building $850,000 (1.5 acres) $1,500,000 (3.57 acres)
Area Description: Richmond is centrally located and is south of Lexington on the I-75 corridor. Richmond is one of the fastest growing areas in Kentucky. Several identifiable factors contribute to this growth, such as easy interstate access, proximity to Lexington, lower cost of housing, good employment base, regional university, and cultural and educational opportunities. Richmond tied for the 30th in the Top Micropolitans in nation for new and expanded industry activity in 2010. The City of Richmond is currently the 7th most populous in Kentucky, up from 11th largest in the 2000 census and is the home of Eastern Kentucky University with approximately 17,000 students. Historic downtown Richmond is one of the finest 19th century commercial districts in the Southeast and is a unique blend of small town warmth and friendliness while still having access to the advantages of a big city.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,550 29,230 41,910
Median Age: 37.79 31.86 33.02
Households: 1,362 11,258 16,458
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