1515 W Lexington Ave - Retail FOR SALE


Winchester, KY 40391
$12,483,000 USD
714-393-2552
1515 W Lexington Ave, Winchester, KY for Sale
$12,483,000 USD
Retail - FOR SALE
1/11
null | 7% Cap Rate

1515 W Lexington Ave
Winchester, KY 40391


HIGHLIGHTS

  • TJ Maxx, Dollar Tree, Aldi, and Five Below Anchored Center | Potential Pad Development | Brand New Aldi and Dollar Tree Leases
  • Signalized, Hard Corner Intersection | Excellent Visibility |Multiple Nearby Apartment Complexes | Centralized Location
  • Strong National/Credit Tenants | Dense Retail Corridor | Kroger Plaza (131,000 SF) | Future Publix Located 2 Miles Away
  • Strong Demographics In 5-Mile Trade Area | Direct Consumer Base

OVERVIEW

SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Winchester Plaza, a TJ Maxx, Aldi, Five Below, and Dollar Tree anchored center located in Winchester, Kentucky. The center consists of a diverse, ecommerce resistant tenant lineup comprised of retail, service, and restaurant tenants, creating a stabilized income stream for a passive investor. In addition, a majority of the current in-place tenant lineup has occupied the site for longer than 10 years, further highlighting the strength of the site and immediate subject trade area. TJ Maxx (S&P: A), Dollar Tree (S&P: BBB), Five Below, and Aldi have all executed new leases within the past two years, underscoring their long-term commitment to the center and highlighting the intrinsic value of the underlying real estate. Situated on a 11-acre parcel, the property includes excess land and offers a value-add pad development opportunity, allowing investors to generate additional income through a ground lease or build-to-suit (BTS) development (see Site Plan on Page 19 for details).

FOR SALE DETAILS

PRICE

$12,483,000 USD

PRICE/SF

$105 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Winchester Plaza | Anchored Retail

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding, Storefront, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

498

LAND DETAILS

LAND ACRES

11 AC

LAND SF

479,160 SF

ZONING

B-2

APN/PARCEL ID

042-0000-03000

ASK ABOUT THIS PROPERTY

Joe ChichesterSRS National Net LeaseMore Info
714-393-2552

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Joe ChichesterSRS National Net LeaseMore Info
714-393-2552

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.