This listing is under contract.

I-75 Toyota Exit Corner

385 Cherry Blossom Way Georgetown, KY 40324

385 Cherry Blossom Way, Georgetown, KY, 40324
385 Cherry Blossom Way, Georgetown, KY, 40324
UNDER CONTRACT FOR SALE
Property Type:
Other Land
FOR SALE
Amount:
Please Call Broker for Price

Last Verified:
Aug 11, 2020

Highlights

  • REDEVELOPMENT OPPORTUNITY!
  • Up to 4.5 acres of Zoned B-2 land for sale
  • Currently an open Quality Inn Hotel with excess land
  • Quality Inn is a +/-23,945 SF economy limited-service hotel with 63 guest rooms
  • Located just off I-75 at Exit 129 across from Delaplain Industrial Park and near the Toyota Manufacturing Plant
  • Less than a mile from the Toyota Manufacturing Plant, which is the largest Toyota manufacturing plant in the world, annually capable of producing 550,000 vehicles and more than 600,000 engines and over 8,000 employees
  • The recent expansion to several of the local manufacturing companies, Toyota's $1.3 Billion commitment to re-tool the Toyota Motor Manufacturing Plant, the addition of a new 125,000 sf Kroger Marketplace, several new subdivisions and a new high school shows steady growth for Georgetown and Scott County
  • Average daily traffic counts of +/-11,065 ('17) along Cherry Blossom Way and +/-51,753 ('16) along I-75 near the site
  • Easy access to I-75, downtown Georgetown, Lexington, KY (+/-16 miles), Louisville, KY (+/-75 miles) and Cincinnati, OH (+/-68 miles)
  • The Georgetown/Scott County area has been growing rapidly in recent years and the 8th fastest growing city in Kentucky with a population growth rate of 11% over a five year period
  • Entire Parcel Sale Price: $2,795,000; Subdivision Sale Price: $690,000 per acre REDUCED!

 

Description

NAI Isaac is pleased to present a retail redevelopment opportunity. Up to 4.5 acres for sale at the corner of I-75 and Cherry Blossom Way at Exit 129 in Georgetown, Kentucky. Currently an open Quality Inn Hotel with excess land; Quality Inn is a +/-23,945 SF economy limited-service hotel with 63 guest rooms. The property is located along Cherry Blossom Way at Exit 129 adjacent to I-75. The property is less than one mile from Toyota Motor Manufacturing Plant, which is the largest Toyota manufacturing plant in the world, annually capable of producing 550,000 vehicles and more than 600,000 engines and over 8,000 employees. This great location allows easy access to I-75 and downtown Georgetown, +/-16 miles to Lexington, KY, +/-75 miles to Louisville, KY and +/-68 miles to Cincinnati, OH. Average daily traffic counts of +/-11,065 ('17) along Cherry Blossom Way and +/-51,753 ('16) along I-75 near the site.

The property is located just off I-75 at Exit 129 across from Delaplain Industrial Park and near the Toyota Plant. The Georgetown/Scott County area has been growing rapidly in recent years. Georgetown is the 8th fastest growing city in Kentucky with a population growth rate of 11% over a five year period. Both Georgetown and Scott County have experienced employment increases. The recent expansion to several of the local manufacturing companies, Toyota's $1.3 Billion commitment to re-tool the Toyota Motor Manufacturing Plant, the addition of a new 125,000 sf Kroger Marketplace, several new subdivisions and a new high school shows steady growth for Georgetown and Scott County.

Lot Size: 4.5 acres

Map of 385 Cherry Blossom Way, Georgetown, KY, 40324

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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.