Pikeville Plaza

Price: $4,142,000
Sq. Ft.: 20,940
Cap Rate: 7.00%
Built: 2001
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Pikeville Plaza is a 20,940-square-foot, multi-tenant retail center that is shadow-anchored by a high-performing Walmart Supercenter in Pikeville, Kentucky. The building is currently 100 percent occupied, and all leases are triple net. The center is anchored by Dollar Tree and has a complementary mix of primarily national tenants including Advance America, Great Clips, World Finance, Cosmo Prof, and OP Nails & Spa. The building was constructed in 2001 and is situated on a 1.52-acre parcel with ample parking.  The roof is metal, providing minimal maintenance for the landlord.

Pikeville Plaza is located on Cassidy Boulevard near the intersection of Thompson Road and Cassidy Boulevard. Traffic counts along North Mayo Trail exceed 21,500 vehicles per day. The center is shadow-anchored by the second top-performing Walmart Supercenter in the state of Kentucky with more than 2.7 million visitors per year and near numerous national retailers including Lowe’s, Food City, Aaron’s, Tractor Supply Co., Buffalo Wild Wings, Applebee’s, GNC, Ulta Beauty, Maurices, Petco Dollar General, Rack Room Shoes, Aspen Dental, Rent-A-Center, Marshalls, and many more. The surrounding area has an affluent population with an average household income of $111,721 within one mile of the subject property.

Pikeville is the county seat of Pike County. Pikeville is nestled in the mountains of eastern Kentucky and is surrounded by natural beauty and history. Pikeville is known for the Pikeville Cut-Through Project. The project is one of the largest civil engineering projects in the western hemisphere moving nearly 18 million cubic yards of soil and rock. The project eliminated disastrous flooding of the Big Sandy River and traffic congestion downtown by moving a four-lane highway, railroad and a river through the mountain. The Pikeville Cut-Through Overlook is located four miles south of the property. The city is also home to University of Pikeville and the Kentucky College of Osteopathic Medicine, which is one of three medical schools in the state of Kentucky.

  • 20,940-Square-Foot, Walmart Shadow-Anchored Retail Center | Named a Top 10 Performing Walmart Supercenter in Kentucky | Major Traffic Driver to the Area with an Estimated 2.7 Million Visitors Annually (source: Placer Labs Inc.)
  • 100% Occupied | All Leases are Triple-Net | Strong Tenant Base Comprised of National Retailers
  • Anchored by Dollar Tree | Tenant Recently Exercised an Early Seven-Year Lease Extension
  • Building has a Metal Roof Providing Low Maintenance to the Landlord
  • Located in the City’s Primary Retail Trade Area Along Thompson Road | Nearby National Retailers Include Lowe’s, Food City, Aaron’s, Tractor Supply Co., Buffalo Wild Wings, Applebee’s, GNC, Ulta Beauty, Maurices, Petco, Dollar General, Rack Room Shoes, Aspen Dental, Rent-A-Center, Marshalls, and More
  • Surrounding Area Experiencing Growth | Near a Newly Constructed 200,000-Square-Foot Shopping Center and 90-Unit Apartment Complex
  • Highly Affluent Area with a One-Mile Household Income of $111,721
  • Pikeville is Known for the Pikeville Cut-Through | Regarded as One of the Largest Civil Engineering Projects in the Western Hemisphere | Eliminated Flooding and Traffic Congestion Downtown
  • Pikeville is the County Seat of Pike County and Serves an Expanded Trade Area of Approximately 217,000 People
  • Home to University of Pikeville and Kentucky College of Osteopathic Medicine | One of Three Medical Schools in the State of Kentucky