Development Lot

Barnes Mill Road & I-75 Richmond, KY 40475

Barnes Mill Road & I-75, Richmond, KY, 40475
Barnes Mill Road & I-75, Richmond, KY, 40475
FOR SALE
Property Type:
Other Land
Amount:
$3,900,000
Last Verified:
Feb 07, 2019

Highlights

  • 11.89 acres for sale
  • Utilities are stubbed-in at the rear of the site
  • Lighting, parking lot and landscaping already installed
  • Excellent I-75 visibility located in Richmond Centre, a +700,000 SF regional shopping center anchored by Meijer, Cinemark, Belk, JCPenney, Michaels, TJ Maxx, Dick's Sporting Goods, Petsmart and more
  • Average daily traffic count of +61,237 ‘13 ADT on I-75 at Exit 87
  • Located in Richmond/Madison County – one of the fastest growing communities in Kentucky
  • Richmond Centre is the dominant retail development in the market and the largest center on I-75 between Lexington, Kentucky and Knoxville, Tennessee
  • Zoned B-3, Commercial
  • Sale Price: $4,500,000 Reduced to $3,900,000

Description

NAI Isaac is pleased to present +/-11.89 acres for sale. Located within the Richmond Center at Barnes Mill Road & I-75 in Richmond. Utilities are stubbed-in at the rear of the site. Lighting, parking lot and landscaping are already installed. Excellent I-75 visibility located in Richmond Centre, a 700,000 SF regional shopping center anchored by Meijer, Cinemark, Belk, JCPenney, Michaels, TJ Maxx, Dick's Sporting Goods, Petsmart and more. Average daily traffic count of 61,237 ‘13 ADT on I-75 at Exit 87. Located in Richmond/Madison County – one of the fastest growing communities in Kentucky, Richmond Centre is the dominant retail development in the market and the largest center on I-75 between Lexington, Kentucky and Knoxville, Tennessee.

Richmond Centre has excellent visibility from I-75 with nearly one mile of frontage on I-75 and Barnes Mill Road. Access for the site and Richmond Centre is from two signalized entrances on Barnes Mill Road (Eastern By-Pass) as well as two additional connections on Goggins Lane. Richmond is located south of Lexington on the I-75 corridor. Richmond/Madison County are one of the fastest growing areas in Kentucky. Several identifiable factors contribute to this growth, such as easy interstate access, proximity to Lexington, lower cost of housing, good employment base, regional university, and cultural and educational opportunities. The City of Richmond has enjoyed recent growth, is currently the 7th most populous in Kentucky, up from 11th largest in the 2000 census and is the home of Eastern Kentucky University with approximately 17,000 students.

Lot Size: 11.89 acres

Map of Barnes Mill Road & I-75, Richmond, KY, 40475

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.