Former Walmart Anchored Retail Center For Sale | Lexington, KY

by | Nov 14, 2019

SUMMARY

  • PRICE: $18,900,000
  • BUILDING SIZE: 217,292 SF
  • LOT SIZE: 24.71
HIGHLIGHTS
  • Opportunity to purchase a former Walmart anchor retail center prime for redevelopment
  • High traffic location on major thoroughfare in prime retail corridor: Richmond Rd (38, 391 VPD) and Man O’ War Blvd (46,803 VPD)
  • Pending ground lease on 1.3 acres of former Walmart outlot
  • Property offered below replacement cost / value
  • Vacancy also for lease through SVN Stone Commercial Real Estate
  • Call for offers – Wednesday, January 15, 2020 | 4:00 PM (EST)
DESCRIPTION
SVN Stone Commercial Real Estate is pleased to present this opportunity to purchase Mist Lake Plaza, a former Walmart anchored retail center in Lexington, KY. This property is located at the heavily trafficked intersection of Richmond Rd (38,391 VPD) and Man O’ War Blvd (46,803 VPD). This prime location, adjacent to a high-volume Kroger anchored shopping center (211,070+ SF), features 15 commercial spaces totaling 217,292 SF on 24.71 acres. At the intersection of two of Lexington’s busiest thoroughfares, the property is minutes from I-75 and I-64. The property has an additional pending 10 Year NNN ground lease on former Walmart outlot. Mist Lake Plaza represents a rare opportunity for redevelopment in a major Lexington retail corridor. Currently, the property has +/- 131,000 SF of vacancy upside, including the former Walmart space (approx. 125,442 SF), and is offered below replacement cost value. The property includes 0.47 acres at 440 Patchen Drive zoned R-3 for future development.
Call for offers – Wednesday, January 15, 2020 | 4:00 PM (EST).