955 North Wilson Rd, Unit | Radcliff Radcliff, KY 40160

Property Details for 955 North Wilson Rd

Lot size

0.85 lot acres

Property type

Commercial real estate

APN

159-20-00-051

APU

1592000051

Description

This 20,602 square foot, two-building retail strip center in Radcliff, KY, presents a compelling value-add opportunity. Currently boasting 92.72% occupancy with ten tenants, the property features 1,500 square feet of readily leasable vacant space, offering significant upside potential. Eight of the ten leases expire within one year, presenting an immediate opportunity to increase rental income. The average gross rent is $9.2 per square foot, and at least six tenants have never experienced rent increases, indicating further potential for growth. A pro-forma NOI of $232,488 projects a 13.38% cap rate, significantly exceeding the current 8% cap rate based on the current NOI of $139,069. The property sits on a 2.27-acre lot with ample concrete parking and enjoys high visibility due to its location, exceeding the traffic volume of a nearby Walmart. Its proximity to military bases, medical facilities, and the large-scale Ford Blue Oval SK Battery Park development further enhances its long-term prospects. The asking price is $1,738,000 ($84.36/sq ft), well below replacement cost. This fee-simple ownership opportunity offers substantial returns through lease renewals, vacancy backfill, and potential rent increases, potentially adding over $1 million in value through stabilization, rent growth, and a conversion to a triple-net lease structure. Built in 2004, the property consists of two, two-story buildings.