Multi-Tenant Shopping Center with
For Sale
Contact for pricing
535 Whittington Dr, Madisonville, KY 42431
Fee simple shopping center is 100% leased and anchored by major retailers including Bealls, Five Below, Marshalls, and end-cap Hobby Lobby.
Property Size71,791 SF
Price / SF$183.46
Days on Market211
Property Features for 535 Whittington Dr
General Information
Standard status
Active
Size
71,791 SF
Property subtype
RETAIL
Occupancy
100%
Building Details
Year Built
2025
Tenancy
Multi
Listing Agency:
SRS Real Estate Partners | Detroit
(248) 688-0630
Listed By:
Frank Rogers · License #MI 6502417063
(810) 348-3324
Source:
Moodyscre
Added: Apr 2
Changed: Oct 25
Last Checked: Oct 28 at 10:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners | Detroit
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Investment Insights
Based on property information with market context.
SRS Multi-Tenant Investments is pleased to offer the fee simple interest (land and building ownership) in a multi-tenant shopping center totaling 71,191 square feet. The center is anchored by Bealls, Five Below, and Marshalls, with Hobby Lobby operating as an end-cap shadow anchor. The property is also supported by ALDI, which is available as a separate offering.
Madisonville Town Center is located in a new development constructed in 2025 off of Island Ford Road. The center is 100% leased and has 10 years of weighted average lease term remaining.
The offering includes tenant lease structures that provide multiple renewal options with fixed rent increases, creating an inflation hedge based on the stated lease terms.
Madisonville Town Center is located in a new development constructed in 2025 off of Island Ford Road. The center is 100% leased and has 10 years of weighted average lease term remaining.
The offering includes tenant lease structures that provide multiple renewal options with fixed rent increases, creating an inflation hedge based on the stated lease terms.
Key Highlights
- Fee simple ownership (land & building) of a 71,191 SF shopping center
- Shopping center is 100% leased
- Anchored by Bealls, Five Below, Marshalls, plus Hobby Lobby as an end‑cap shadow anchor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$788,993
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$15,779,860
$15.8M
Cap Rate 7%
$11,271,329
$11.3M
Cap Rate 9%
$8,766,589
$8.8M
Market Conditions
NOI Build-Up for 71,791 SF
Gross rent
$1.18M $16.44/SF
− Vacancy
−$53.1K −$0.74/SF
EGI
$1.13M $15.70/SF
− OpEx
−$338.1K −$4.71/SF
NOI
$789.0K $10.99/SF
Area
Hopkins County, KY
Vacancy
4.50%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$15,779,860
Cap Rate 7%
$11,271,329
Cap Rate 9%
$8,766,589
Alternative Uses
Best Use
Retail
$11.27M
$9.86M – $13.15M
NOI $788,993 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.11M
$10.60M – $14.13M
NOI $847,708 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
256k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Shops & Services 28%
Groceries 16%
Home Improvements & Furnishings 13%
Kroger
Groceries
41,060 visits/mo
0.1 miles
Lowe's
Home Improvements & Furnishings
32,115 visits/mo
0.2 miles
McDonald's
Dining
28,295 visits/mo
0.4 miles
Huck's
Shops & Services
24,230 visits/mo
0.4 miles
Starbucks
Dining
17,833 visits/mo
0.2 miles
Demographics for 42431, KY
26,566
Population
12,569
Households
2.1
Avg Household Size
41
Median Age
20%
College-Educated
88%
High-School Grad
166.7 sq mi
ZIP Area
159
Density / Sq Mi
$57,529
Median Household Income
$37,671
Median Earnings
$858
Median Rent
$151,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Briarwood Shopping Center — 1297 N Main St, Madisonville, KY 42431
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Frequently Asked Questions
What type of property is this?
Shopping center - Fee simple shopping center is 100% leased and anchored by major retailers including Bealls, Five Below, Marshalls, and end-cap Hobby Lobby.
Where is this shopping center located?
The property is located at 535 Whittington Dr Madisonville, KY.
What is the asking price?
The asking price for this property is $13,171,000.
What are key features of this property?
This property features: Fee simple ownership (land & building) of a 71,191 SF shopping center; Shopping center is 100% leased; Anchored by Bealls, Five Below, Marshalls, plus Hobby Lobby as an end‑cap shadow anchor
