Block+Lot is 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.

Edgewood Plaza is located on the south side of Downtown Nicholasville, KY at the corner of S. Main Street and Edgewood Drive. The shopping center has excellent visibility and accessibility to S. Main Street with a traffic count of 15,607 (ADT). Trade area retailers/business include: Kroger, Cato, Ollie’s, Advance Auto Parts, Arby’s, Hardees, Dominos, Chase Bank, City National Bank, Big City Pizza, and more. Nicholasville, KY is directly south of Lexington, KY (Kentucky’s second largest market) and is part of its MSA.

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 and additional smaller flex suites located in the rear of the building.

-The property is located in fast-growing Nicholasville, KY, directly south of Lexington, KY and part of its MSA.

-This investment opportunity features a stabilized asset with an in-place Cap Rate exceeding 8.5%.

-Contact Agents for financials.

Edgewood Plaza

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Block & Lot Real Estate