Multi-Tenant Shopping Center with
535 Whittington Dr Madisonville, KY 42431
For Sale
Contact for pricing
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 Market120
Property Features for 535 Whittington Dr
General Information
Standard status
Active
Size
71,791 SF
Property subtype
RETAIL
Listing Agency:
SRS Real Estate Partners | Detroit
(810) 348-3324
Listed By:
Frank Rogers · License #6501369793
(810) 348-3324
Source:
Moodyscre
Added: Apr 2
Changed: Jul 26
Last Checked: Jul 29 at 3:39PM
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
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.18M | $16.44 |
| − Vacancy | −$53.1k | −$0.74 |
| EGI | $1.13M | $15.70 |
| − OpEx | −$338.1k | −$4.71 |
| NOI | $789.0k | $10.99 |
71,791 SF · lease $16.44/SF/yr · vacancy 4.50% · expense 30.00%
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.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Briarwood Shopping Center — 1297 N Main St, Madisonville, KY 42431
- Coinstar Kiosk | Bitcoin ATM — Kroger - Louisville, 545 Island Ford Rd, Madisonville, KY 42431
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
