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Winchester Plaza | Anchored Retail 1515 W Lexington Ave 131,284 SF 95% Leased Retail Building Winchester, KY 40391 $17,288,830 CAD ($131.69 CAD/SF) 7% Cap Rate
Investment 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 Neighborhood Center)
- Strong Demographics In 5-Mile Trade Area | Direct Consumer Base
Executive Summary
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).
Property Facts
Sale Type
Investment
Property Type
Building Size
131,284 SF
Building Class
B
Year Built/Renovated
1969/1986
Price
$17,288,830 CAD
Price Per SF
$131.69 CAD
Cap Rate
7%
NOI
$1,210,193 CAD
Percent Leased
95%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.27
Lot Size
11.00 AC
Zoning
B-2
Parking
498 Spaces (3.79 Spaces per 1,000 SF Leased)
Frontage
1,000’ on LEXINGTON AVE
Amenities
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 042-0000-03000 | Improvements Assessment | $3,121,906 CAD |
| Land Assessment | $2,700,730 CAD | Total Assessment | $5,822,636 CAD |
Property Taxes
Parcel Number
042-0000-03000
Land Assessment
$2,700,730 CAD
Improvements Assessment
$3,121,906 CAD
Total Assessment
$5,822,636 CAD
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Winchester Plaza | Anchored Retail | 1515 W Lexington Ave
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