3238 Kidron Valley Way - Storefront Retail/Office FOR SALE


Owensboro, KY 42303
$3,500,000 USD
270-926-1101
3238 Kidron Valley Way, Owensboro, KY for Sale
$3,500,000 USD
Storefront Retail/Office - FOR SALE
1/15
null | 6.23% Cap Rate

3238 Kidron Valley Way
Owensboro, KY 42303


HIGHLIGHTS

  • ** Listing Brokers are Principals in this Property **
  • Excellent Long-Term Occupancy & Diverse Tenants
  • Significant NOI Growth Potential
  • Surrounded by Future Developments

OVERVIEW

Ideally positioned in the heart of Owensboro's primary and growing retail submarket, this 13,500 SF Walmart shadow-anchored strip center presents a compelling opportunity for investors. Built in 2013, the center commands a daily traffic count of over 25,000 vehicles, offering high visibility and patronage to its diverse mix of tenants. The center boasts a remarkable 97% occupancy rate, hosting a variety of popular establishments such as Wasabi54, the town's best hibachi and sushi restaurant, Eve Nail Salon, Mr. Bubble Tea, Dapper Dog, and the Gateway Hub – an executive office space housing eight furnished and privately rented offices. Designed with a charming brick construction, the center offers ample parking with 60 spaces, including 3 handicapped spots. A unique advantage is the center's proximity to Walmart, driving additional traffic and providing a boost to all tenants. The center currently generates a Net Operating Income (NOI) of just under $210,000, with significant potential to further enhance profitability. The upside of this property is to get one of the spaces to market rent when it renews in 2024 as well as continue to lease out the executive office space in the rear of the building as it is the second highest revenue-producing space in the center. Situated in a high-development area with over 2 million square feet of retail space and an additional 100,000 square feet in the pipeline, this center is perfectly positioned for sustainable growth and profitability. The recent renovation and furnishing of the Gateway Hub Executive Office Space in 2022 further underscore its appeal to contemporary businesses.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$259 USD /SF

CAP RATE

6.23%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walmart Shadow Anchored Strip Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

B-4

APN/PARCEL ID

002-14-01-005-00-000

ASK ABOUT THIS PROPERTY

Bo BarronBarron Commercial GroupMore Info
270-926-1101

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Bo BarronBarron Commercial GroupMore Info
270-926-1101

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