Buttermilk Crossing w/ Northern Tool — Sale in Crescent Springs, KY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Crescent Springs, KY 41017

Photos

Buttermilk Crossing w/ Northern Tool — Sale in Crescent Springs, KY, photo 1 of 3
Buttermilk Crossing w/ Northern Tool — Sale in Crescent Springs, KY, photo 2 of 3
Buttermilk Crossing w/ Northern Tool — Sale in Crescent Springs, KY, photo 3 of 3

Investment Figures

Cap rate
7.26%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

85 Percent Occupied 53,357-Square-Foot Neighborhood Retail Center and Free Standing STNL Northern Tool Situated Along Buttermilk Pike. Prime Visibility with 39,140 Vehicles per Day on Buttermilk Pike and 147,360 Vehicles per Day on I-71/I-75. Highway Visible Center with Signage to 165,000 Vehicles per Day on I-71; Dedicated Pylon Sign along/above I-71 and Just off Exit Ramps at Buttermilk Pike Investment Highlights: • 85 Percent Occupied 53,357-Square-Foot Neighborhood Retail Center and Free Standing STNL Northern Tool Situated Along Buttermilk Pike • Upside Available through Lease Up of Three Vacancies, Additionally 31 Percent of Occupied Shop Space Gross Leasable Area has No Options Remaining • Diverse Tenant Mix Featuring Food, Service, and Daily-Needs Retailers Such as Domino's, Penn Station, Great Clips, H&R Block, and The UPS Store • Close to $600,000 in Landlord Investments to Shopping Strip within Past Two Years Including New Roofs and Parking Lot Resurfacing (2023) and Updates to Façade (2024) • Complete 2023 Renovation of Former Staples Box into Freestanding Northern Tool; Over $1.1 Million Invested by Seller in Renovations and TIA • 10-Year Triple-Net Lease with Northern Tool | Minimal Landlord Responsibility – Roof and Structure Only • In Place Rental Increases and Vacancy Upside Produce Attractive CAGR of 3.49 Percent. 10-Year Unleveraged IRR of 10.10 Percent | Leveraged IRR of 15.97 Percent | DSCR of 1.34x • Opportunity to Spin Off Northern Tool Property for CAP Arbitrage – Separately Parceled

Market Context

This retail in Crescent Springs, KY is listed for sale. It is offered at an approximate 7.3% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Crescent Springs, KY — view the full market.

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