Owensboro, KY Retail Property For Sale

RETAIL REDEVELOPMENT

• Multi-Tenant redevelopment with drive-thru opportunity

• Towne Square Mall outlot located in Owensboro’s main retail corridor on Frederica Street (28K ADT) less than 1 mile from the Owensboro By-Pass (43K ADT) SITE

• Area retailers include Walmart, Target, TJ Maxx, Chick-fil-A, Panera, PetsMart, Home Depot, Sam’s Club, etc.

• 0.95 acre site

• Zoned B4

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.

Now offering a free standing building situated in a prime location with close proximity to Walmart and excellent visibility from Frederica Street. This property features excellent viability, easy ingress and egress access. Frederica Street is the primary retail corridor in the market. Anchored by Walmart, Target, Best Buy, Lowe's, Home Depot, Sam's Club, and Town Square Mall.

Former freestanding bank branch location. Conveniently located near W. Parrish Avenue and Wendell Ford Expressway interchange. Zoned B-4 (Commercial/ General Business).

We are pleased to offer for sale, 700 Frederica Street, an office building and former bank branch. The property contains 14,332 square feet on two floors with superb ingress/egress, signage and parking.

Located on the west side of Frederica Street, just south of city center and across the street from Brescia College, the property provides a new owner with office and retail flexibility.