33.68 Acres Cadiz Rd
33.68 Acres | Prime Hopkinsville Corridor | 0 Cadiz Road | Commercial Development Opportunity
Marketing description
Exceptional 33.68-acre development parcel on Cadiz Road (US-68/KY-80) in Christian County's growing commercial corridor. Level topography with direct highway frontage and established infrastructure creates immediate development-ready opportunity.
KEY FEATURES:
• 33.68 acres (1,466,883 SF)
• Parcel ID: 207-00 01 001.00
• Current Zoning: AG (Seller to assist with rezoning)
• Target Zoning: B-2 General Business (5-6 month process)
• Level terrain, minimal site work required
• Flood Zone X - Minimal hazard
• Sewer ~850' from Hopkinsville Bypass
• Direct Cadiz Road frontage, excellent visibility
KENTUCKY TAX INCENTIVES AVAILABLE:
• Kentucky Business Investment (KBI) - Income tax credits for job creation
• KEIA Program - Sales tax refunds on construction materials & equipment
• Skills Training Tax Credit (STIC) - Employee training cost credits
• TIF Financing - Property tax increment for infrastructure improvements
LOCATION ADVANTAGES:
• Hopkinsville city limits - 31,577 population
• 15 miles to Fort Campbell (52,000+ military personnel)
• 1.5 miles to Christian County High School
• Growing market: 4.8% unemployment, +1.2% job growth
DEVELOPMENT POTENTIAL:
• Commercial: Retail, medical offices, restaurants
• Residential: 50-70 lot subdivision
• Industrial: Warehouse, distribution, flex space
• Subdivision flexible for phased development
Optimal Commercial Uses
Retail Centers: Strip centers, neighborhood shopping centers (15,000-50,000 SF)
Quick Service Restaurants: Drive-thru concepts with pad site potential
Professional Office: Medical, dental, professional services (2-3 story buildings)
Automotive Services: Quick lube, car wash, tire centers
Convenience/Fuel: C-store with fuel (subject to deed restrictions)
Financial Services: Banks, credit unions with drive-thru
Development Scenarios
Scenario 1: Retail Strip Center
Building Size: 25,000-30,000 SF
Parking: 150+ spaces (6/1,000 SF ratio)
Anchor Tenant: Grocery, fitness, or medical (10,000-15,000 SF)
In-line Tenants: 8-12 units (1,200-2,500 SF each)
Development Cost: $4.5M-$6M ($150-200/SF)
Stabilized NOI: $450k-$600k (10% cap rate)
Scenario 2: Multi-Pad Site Development
Pad Sites: 4-6 outparcels (0.75-1.5 acres each)
QSR Pads: Chick-fil-A, Raising Cane's, Starbucks type concepts
Fast Casual: Chipotle, Panera, Five Guys type tenants
Financial: Bank with drive-thru (1-1.5 acres)
Land Sale Revenue: $2.5M-$4M ($75k-$120k per pad)
Timeline: 12-24 months for full absorption
Scenario 3: Mixed-Use Development
Ground Floor Retail: 15,000-20,000 SF
Upper Floor Office: 15,000-25,000 SF (medical preferred)
Total Development: 30,000-45,000 SF
Parking Structure: May be required (3.5/1,000 SF)
Development Cost: $7M-$10M ($175-$225/SF)
Stabilized NOI: $700k-$900k
Investment highlights
Hopkinsville Market Fundamentals
Demographics (3-Mile Radius)
Population 35,000+ Median HH Income $52,000+ Avg HH Income $68,000+ Daytime Population 42,000+
Traffic & Access
Cadiz Road (US-68): Primary commercial corridor
Daily Traffic: 15,000-20,000 VPD
I-24 Access: 12 miles to Exit 86
Fort Campbell: 20 miles (major employment center)
Competitive Advantages
Limited Supply
Few remaining large commercial parcels on Cadiz Road corridor available for development
Growing Market
Hopkinsville population growth + Fort Campbell's 30,000 military/civilian workforce
Retail Demand
Established retail corridor with proven tenant demand and limited new construction
Deed Restrictions & Opportunities
Key Restriction: Dollar-type discount stores are prohibited
While this eliminates one potential tenant category, it actually enhances property value by preventing low-quality discount retail that could negatively impact surrounding development and reduce the site's attractiveness to premium tenants.
Competitive Advantages from Restrictions
Premium Tenant Appeal: National QSR and retail brands prefer locations without discount stores
Higher Rents: Absence of value retailers supports premium rental rates ($20-25/SF vs $12-15/SF)
Better Positioning: Property attracts quality-focused developers and institutional buyers
Long-term Value: Premium tenant mix maintains property values and prevents corridor degradation
Subdivision Flexibility
The 33.68-acre parcel can be subdivided to accommodate various development strategies and buyer needs.
Subdivision Options
10-Acre Commercial Campus: $900k - Retail center with multiple tenants
5-Acre Retail Development: $450k - Single anchor tenant or small center
2-Acre QSR Pad: $180k - Premium drive-thru restaurant site
1-Acre End Cap: $90k - Bank, coffee shop, or fast casual
Mixed Strategy: Develop portion, sell remainder for immediate capital recovery
Strategic Advantage: Buy entire 33.68 acres at $90k/acre ($3.03M), subdivide and sell premium frontage pads at $110k-$130k/acre, recoup 50-75% of land cost while retaining development-ready acreage for long-term hold or build-to-suit opportunities.
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