29 Olive StLa Center, KY 42056

Property Details for 29 Olive St

Year built

2012

Construction

STEEL FRAME

Lot size

1.07 AC

Property size (Sq ft)

8,000 SF

Property type

Outlet malls

APN

44A-50-01

APU

44A5001

Description

This 10,500 square foot vacant storefront, formerly a Family Dollar Tree combination store, is available for redevelopment. Located on 1.07 acres in La Center, Kentucky, the property underwent a 2,500 square foot expansion and remodel in 2023, resulting in a modern building in excellent condition. Despite operating successfully as a combo store from August 2023 until its April 2024 closure as part of recent corporate downsizing, this presents a unique opportunity for investors. Situated in Ballard County, La Center offers a strong local market with a diverse population. The property benefits from its proximity to Paducah, Kentucky, and major transportation routes, providing convenient access to a wider regional market. The 5-mile radius boasts a median household income of $44,555 and an average of $66,109, while the 10-mile radius shows a median household income of $50,672 and an average of $67,968. The asking price is $500,000 ($47.62/SF), representing a compelling investment in a well-located, recently renovated retail space. The property is offered fee simple and is also available for lease. Built in 2012, this property presents a strong foundation for a variety of redevelopment possibilities. The property's size and location make it suitable for a range of retail uses, offering significant potential for future growth and profitability.

• CAP approach

  CAP return

  Valuation

  6%

  $2,688,086

  6.5%

  $2,481,310

  7%

  $2,304,074

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,571,674

  Geo Method

  $1,571,674

• Alternative Use

  Use

  Valuation

  Residential

  $2,093,078

  Hospitality

  $1,917,248

  Educational

  $1,595,128

  Medical

  $1,649,987

  Retail

  $2,481,310

Location Insight

City

La Center

County

Ballard

State

Kentucky

Latitude

37.0727

Longitude

-88.9747

CBSA code

37140

CBSA name

PADUCAH, KY-IL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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