Block + Lot is pleased to offer for sale Malabu Heights Plaza located at 2348-2358 Nicholasville Road in Lexington, KY. Malabu Heights consists of two retail strip buildings totaling 34,436 SF. Currently 96.08% occupied with 15 tenants, this investment provides an opportunity to spread risk through multiple internet resistant uses while also enabling the investor to add value in a highly stabilized retail market.
- Irreplaceable A+ location on Nicholasville Road inside of New Circle Road-43,989 (ADT)
- Internet Resistant Retail-Tenant mix is primarily small shop service oriented or restaurant with no Big Box anchor
- Remainder Value Add through rent increase, vacancy lease up, and NNN conversion
- Lexington Retail Vacancy Rate consistently below 7%
- Market land constraints will limit competition for the foreseeable future
- Rare retail investment opportunity in Lexington’s most prominent retail corridor
Link to Lease Listing for Malabu Heights: http://balrealestate.com/malabu-heights-plaza
Peter Barr, CCIM, SIOR
O: 859.309.0099 x221
Malabu Heights Plaza is located at 2348-2358 Nicholasville Road in Lexington, KY. The property is situated inside of New Circle Road in an irreplaceable and generational A+ location on Nicholasville Road. Nicholasville Road is Lexington’s primary retail corridor consisting of traffic counts of 43,989 (ADT). Nicholasville Road connects retail to the major health care systems, to the University of Kentucky, and to the Central Business District. The property is located approximately 1.8 miles from the University of Kentucky, which has over 28,000 students enrolled. The property is situated adjacent to Trader Joes and directly across the street from Kroger. The property is encompassed by major trade area retailers and businesses including The Mall at Lexington Green, Fayette Mall, and The Summit at Fritz Farm.