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Details: Retail
Asking Price: $7,735,000
Square Feet: 46,647 SF
Asking Cap Rate: 7.75%
Year Built: 2000
NOI: $599,400
North Park Marketplace
524 West New Circle Road, Lexington, KY 40511
- Walmart shadow anchored center
- 97% occupied
- New 10-year lease with Hibbett Sports
- Single tenant Arby’s located on outparcel
- Only 2.85% vacancy in the market
- Landlord flexibility with only 4 of 12 tenants having renewal options
- Staggered lease expirations
- 84% of rental income comes from national tenants
- 88% of GLA occupied by national tenants
- Assumable financing available
- Rate: 4.75%
- Maturity: 9/1/2027
- Amortization: 30 years
- Balance: +/- $4,025,000
- Located in Lexington, KY
- The 2nd largest MSA in KY
- MSA population: 771,000
- Strong daily traffic counts:
- W New Circle Rd: 43,815
- Russell Cave Rd: 13,053
- Strong incomes in trade area:
- 5-mile: $70,585
- Strong population in trade area:
- 5-mile: 171,280
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