Catylist ID:
#30680215
Lexington KY Retail Investment Portfolio | Southland Drive
Retail-Commercial
for Sale
Sale Pending
| Catylist Listing ID: | 30680215 |
| Property Subtypes: | Free-Standing Building, Mixed Use, Retail-Pad, Street Retail |
| Status: | Pending |
| Building Size (RSF): | 16,300 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 1.50 Acres |
| Sale Price: | $2,300,000 |
| Unit Price: | $141.10 PSF |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller |
| Last Updated: | 4/2/2021 |
Overview / Comments
|
We are pleased to present an opportunity to invest in the fastest growing, predominately locally owned retail corridor in Lexington, KY. Southland Drive is home to some of the most iconic long standing local restaurants and service providers in the market including but not limited to: Winchell's, the Ketch, Donut Days, Taco Tico, Collins Bowling Lanes, Sharp's Candies, Old Kentucky Chocolates, Good Foods Co-Op, Marrikas Bier Stube, and Schwabs cigar shop. As Southland Drive has continued to adapt over the years, it is one of a few places in Lexington that has maintained its charming character which has positioned the corridor as one of the most sought after retail locations while simultaneously offering conservative entry level price points. With a location that is easy to access from both Nicholasville and Harrodsburg Roads, as well as the newly improved infrastructure and walkways allowing for pedestrian foot traffic, the corridor continues to make improvements that are paying serious dividends to visitors and retailers alike. 268-278 Southland Drive consists of two buildings totaling 16,300sf. The properties are 78% occupied with the current tenants being Planned Parenthood, Gold & Diamond Apparel, GDA Jewelers, Lexington Healing Arts Academy, Associates in Rehab (physical therapy), and Providence Community Church. Highlights: Lexington, KY Retail Investment Opportunity Diverse Tenant Mix (COVID-19 & E-Commerce Resistant Fast Growing Commercial Corridor with Significant Infrastructure Improvements Newly Paved, Striped, and Sealed Parking Lot Well lit and improved building facades stand out amongst other retailers Visibility from Southland Drive Predominantly locally owned businesses ** Contact listing agent to complete CA and obtain confidential financial OM. |
Attachments & Media
Additional Details
| Nearest MSA: | Lexington-Fayette |
| County: | Fayette |
| Tax ID/APN: | 13220950 |
| Zoning: | B-1 |
| Area Description: | This property is located in Lexington, KY on Southland Drive-- one of the city's most successful redevelopment areas. Southland Drive is in South Lexington and is surrounded by many dense neighborhoods, retail/restaurants, and other businesses. This property consists of two buildings with prime road frontage and plenty of parking. |
| Tenancy: | Multiple Tenants |
| Total Number of Buildings: | 2 |
| Property Condition: | Good |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 12,940 | 153,012 | 250,468 |
| Median Age: | 38.12 | 35.29 | 35.58 |
| Households: | 5,903 | 65,663 | 106,399 |
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