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$ 1,675,000
New
115 Edgewood Drive Nicholasville, KY 40356
37,360 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 37,360 sqft
Price per Sqft $44
Subdivision Commercial
MLS Listing ID 25008656
Year Built 1964
Lot Size 2.667 Acres
Property Description
We are pleased to bring to market Edgewood Plaza located at 115 Edgewood Plaza in Nicholasville, KY. This 37,360 SF (per PVA) shopping center, zoned B-1, is a three tenant center anchored by Dollar General and Napa Auto Parts. This investment provides the unique opportunity for a value add investor to acquire a stabilized asset and reposition value by purchasing the property at a below replacement cost basis ($44.83 PSF), add term length, increase in place below market rents, and OPEX recovery by flipping lease structures to true NNN and potential to recapture square footage. In addition, this unique center offers flex suites in the rear of the property providing additional income. The 2.667 acre site has outparcel potential with frontage on S. Main St.
Property Highlights:
-This asset is priced significantly below replacement cost with an opportunity to add term lengths, increase in pace below-market rents, and flip lease structure to true NNN to recapture square footage.
-There is outparcel potential within the 2.667-acre site.
-The asset features national brand anchors, Dollar General and Napa Auto Parts, with long-standing terms at the center, plus Full Circle Supports.
Property Highlights:
-This asset is priced significantly below replacement cost with an opportunity to add term lengths, increase in pace below-market rents, and flip lease structure to true NNN to recapture square footage.
-There is outparcel potential within the 2.667-acre site.
-The asset features national brand anchors, Dollar General and Napa Auto Parts, with long-standing terms at the center, plus Full Circle Supports.
Location
State KY
County Jessamine
Exterior
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Listed by Block + Lot Real Estate