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Shopping Neighborhood

Princeton Centre

550 US-62, Princeton, KY 42445

Listing Price: $2,190,000

Cap Rate
9.50%
Gross SF
38,600
Rentable SF
38,600
Price/Gross SF
$56.74
Lot Size
6.62 acres
Year Built
1994

Investment Overview

The subject property is a 38,600sf shopping center anchored by Investment Grade Dollar Tree (S&P AA) with roughly half its GLA occupied by national or regional tenants who operate hundreds of stores. The tenancy also includes a medical center to compliment a nearby hospital built in 2009 with a with an all-modern facility serving the Caldwell and Lyon County areas. The property runs parallel to a major highway and just off Interstate 69, in the county seat community of Princeton, Kentucky with excellent ingress, egress and visibility.
The average rents for the subject center are $6.80/sf in a market where rents are averaging closer to $9.33/sf. The property sits on 6.7 acres providing opportunity for expansion if needed. Other national retailers in the area include KFC, AutoZone, Goodys, Tractor Supply, AT&T, Cato, Sonic, Captain Ds, Taco Bell, Hardees, Pizza Hut, Subway and many more.

Investment Highlights

  • 38,600sf Shopping Center anchored by Investment Grade Dollar Tree (S&P AA)
  • Just off Interstate 69 in the County Seat of Caldwell, Princeton Kentucky
  • Low price per square foot Purchase Price at $56/sf
  • High Cap Rate (9.5%) on Actual Income after deduct for Vacancy, Mgt and Reserves
  • Below Market Rents
  • Additional Land for development

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (513) 878-7733

    License(s) KY: 242197

    Kentucky

Shopping Neighborhood

Princeton Centre

Listing Price: $2,190,000

Cap Rate
9.50%
Gross SF
38,600
Rentable SF
38,600
Price/Gross SF
$56.74
Lot Size
6.62 acres
Year Built
1994

Investment Highlights

  • 38,600sf Shopping Center anchored by Investment Grade Dollar Tree (S&P AA)
  • Just off Interstate 69 in the County Seat of Caldwell, Princeton Kentucky
  • Low price per square foot Purchase Price at $56/sf
  • High Cap Rate (9.5%) on Actual Income after deduct for Vacancy, Mgt and Reserves
  • Below Market Rents
  • Additional Land for development

Investment Overview

The subject property is a 38,600sf shopping center anchored by Investment Grade Dollar Tree (S&P AA) with roughly half its GLA occupied by national or regional tenants who operate hundreds of stores. The tenancy also includes a medical center to compliment a nearby hospital built in 2009 with a with an all-modern facility serving the Caldwell and Lyon County areas. The property runs parallel to a major highway and just off Interstate 69, in the county seat community of Princeton, Kentucky with excellent ingress, egress and visibility.
The average rents for the subject center are $6.80/sf in a market where rents are averaging closer to $9.33/sf. The property sits on 6.7 acres providing opportunity for expansion if needed. Other national retailers in the area include KFC, AutoZone, Goodys, Tractor Supply, AT&T, Cato, Sonic, Captain Ds, Taco Bell, Hardees, Pizza Hut, Subway and many more.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (513) 878-7733

    License(s): KY: 242197

    Kentucky

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