211 Shenandoah Pl - Shenandoah Houses
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211 Shenandoah Pl - Shenandoah Houses
4 Unit Apartment Building Offered For Sale in Henderson, KY 42420
Executive Summary
201 SHENANDOAH PLACE - 1 HOUSE
202 SHENANDOAH PLACE - 1 HOUSE
211 SHENANDOAH PLACE - 1 HOUSE
212 SHENANDOAH PLACE - 1 HOUSE
1. VALUE-ADD OPPORTUNITY:
New ownership will have the opportunity to increase rents by renovating the interiors, including new countertops, flooring, cabinets, lighting, and fixtures.
2. MANAGEMENT UPSIDE:
All properties are currently self-managed. New ownership can implement a professional management team to improve operations.
3. LARGE FLOOR PLANS:
The property has an average floor plan size of 1,200 SF. The property is made up of all 2 bed units.
4. PROXIMITY TO HENDERSON EMPLOYERS:
The Henderson Portfolio allows tenants quick access to Henderson’s major employers, including:
• Tyson Foods – 1,416 jobs
• Gibbs Die Casting – 906 jobs
• River View Coal – 865 jobs
• Century Aluminum – 499 jobs
• Big Rivers Electric – 465 jobs
5. RECENT HENDERSON ECONOMIC DEVELOPMENTS:
Multiple major announcements have been made in Henderson recently, including:
• Alliance Coal - $35 million investment
• Elkamet - $4.6 million HQ expansion
• Pratt Paper - $500 million investment; 321 new jobs
• Hydro Aluminum - $15 million investment; 56 new jobs
• Accuride Corp. - $2 million investment; 15 new jobs
• SITEX Corp. - $4.5 million investment; 30 new jobs
• Columbia Brands - $3.7 million investment; 175 new jobs
• Precision Power - 82,000 SF facility under construction
• $5.8 million investment in EDA Grant and local funds to construct a high-pressure natural gas line to support manufacturing growth; will lead to 350 new jobs
• I-69 construction allowing for better access within Henderson and better connection to surrounding cities
6. PROXIMITY TO EVANSVILLE’S BEST RETAIL:
The Henderson Portfolio is ideally positioned within 20 minutes of Evansville’s premier shopping centers, including:
• 215-Acre Promenade Development: A mixed-use, full-scale lifestyle development that is anticipated to add over
$500,000,000 in economic development to the region. Anchor tenant Costco is the first Costco in the Tri-State area. The development also includes Academy Sports & Outdoors, Marshalls, Burkes Outlet, Home Centric, office space, and hotel accommodations.
• Eastland Mall: 1,025,000 SF; JCPenney, Dillard’s, Macy’s; 80+ stores
• East Lloyd Commons: 159,682 SF; Dick’s Sporting Goods, Michaels, Best Buy
• Evansville Pavilion: 273,697 SF, Target, TJ Maxx, Fresh Market, Kirkland’s
7.EVANSVILLE’S MAJOR EMPLOYERS
The Evansville area is home to several large employers, including:
• Deaconess Hospital (HQ) - 10,500 jobs; 350 beds
• Berry Global (HQ) - 3,200 jobs
• St. Vincent Evansville - 3,000 jobs; 376 beds
• Koch Enterprises (HQ) - 2,800 jobs
• TJ Maxx - 2,300 jobs
• University of Southern Indiana - 2,119 jobs; 9,200+ students
• OneMain Financial (HQ) - 1,250 jobs
• SKANSKA - 1,076 jobs
• Vectren Corporation - 1,000 jobs
8.PROXIMITY TO OWENSBORO DEMAND DRIVERS:
The Henderson Portfolio offers tenants quick access to area demand drivers, including:
• Towne Square Mall & Surrounding Retail: 437,753 SF Mall; 40+ Stores
• Gateway Commons: 500,000 SF mixed use development featuring retail, restaurant and entertainment space along with hotels, office and medical space
• Owensboro Health Regional Hospital: 477 Beds; 4,125 jobs
• Major Employers: US Bank Home Mortgage (1,800 jobs), Specialty Food Group (700 jobs), Toyotetsu Mid-America (700
jobs), Titan Contracting (400 jobs), UniFirst (445 jobs)
• Kentucky Wesleyan College: Recognized as “Best in the Southeast” for a 17th consecutive year by Princeton Review
• Growing Owensboro Regional Airport
202 SHENANDOAH PLACE - 1 HOUSE
211 SHENANDOAH PLACE - 1 HOUSE
212 SHENANDOAH PLACE - 1 HOUSE
1. VALUE-ADD OPPORTUNITY:
New ownership will have the opportunity to increase rents by renovating the interiors, including new countertops, flooring, cabinets, lighting, and fixtures.
2. MANAGEMENT UPSIDE:
All properties are currently self-managed. New ownership can implement a professional management team to improve operations.
3. LARGE FLOOR PLANS:
The property has an average floor plan size of 1,200 SF. The property is made up of all 2 bed units.
4. PROXIMITY TO HENDERSON EMPLOYERS:
The Henderson Portfolio allows tenants quick access to Henderson’s major employers, including:
• Tyson Foods – 1,416 jobs
• Gibbs Die Casting – 906 jobs
• River View Coal – 865 jobs
• Century Aluminum – 499 jobs
• Big Rivers Electric – 465 jobs
5. RECENT HENDERSON ECONOMIC DEVELOPMENTS:
Multiple major announcements have been made in Henderson recently, including:
• Alliance Coal - $35 million investment
• Elkamet - $4.6 million HQ expansion
• Pratt Paper - $500 million investment; 321 new jobs
• Hydro Aluminum - $15 million investment; 56 new jobs
• Accuride Corp. - $2 million investment; 15 new jobs
• SITEX Corp. - $4.5 million investment; 30 new jobs
• Columbia Brands - $3.7 million investment; 175 new jobs
• Precision Power - 82,000 SF facility under construction
• $5.8 million investment in EDA Grant and local funds to construct a high-pressure natural gas line to support manufacturing growth; will lead to 350 new jobs
• I-69 construction allowing for better access within Henderson and better connection to surrounding cities
6. PROXIMITY TO EVANSVILLE’S BEST RETAIL:
The Henderson Portfolio is ideally positioned within 20 minutes of Evansville’s premier shopping centers, including:
• 215-Acre Promenade Development: A mixed-use, full-scale lifestyle development that is anticipated to add over
$500,000,000 in economic development to the region. Anchor tenant Costco is the first Costco in the Tri-State area. The development also includes Academy Sports & Outdoors, Marshalls, Burkes Outlet, Home Centric, office space, and hotel accommodations.
• Eastland Mall: 1,025,000 SF; JCPenney, Dillard’s, Macy’s; 80+ stores
• East Lloyd Commons: 159,682 SF; Dick’s Sporting Goods, Michaels, Best Buy
• Evansville Pavilion: 273,697 SF, Target, TJ Maxx, Fresh Market, Kirkland’s
7.EVANSVILLE’S MAJOR EMPLOYERS
The Evansville area is home to several large employers, including:
• Deaconess Hospital (HQ) - 10,500 jobs; 350 beds
• Berry Global (HQ) - 3,200 jobs
• St. Vincent Evansville - 3,000 jobs; 376 beds
• Koch Enterprises (HQ) - 2,800 jobs
• TJ Maxx - 2,300 jobs
• University of Southern Indiana - 2,119 jobs; 9,200+ students
• OneMain Financial (HQ) - 1,250 jobs
• SKANSKA - 1,076 jobs
• Vectren Corporation - 1,000 jobs
8.PROXIMITY TO OWENSBORO DEMAND DRIVERS:
The Henderson Portfolio offers tenants quick access to area demand drivers, including:
• Towne Square Mall & Surrounding Retail: 437,753 SF Mall; 40+ Stores
• Gateway Commons: 500,000 SF mixed use development featuring retail, restaurant and entertainment space along with hotels, office and medical space
• Owensboro Health Regional Hospital: 477 Beds; 4,125 jobs
• Major Employers: US Bank Home Mortgage (1,800 jobs), Specialty Food Group (700 jobs), Toyotetsu Mid-America (700
jobs), Titan Contracting (400 jobs), UniFirst (445 jobs)
• Kentucky Wesleyan College: Recognized as “Best in the Southeast” for a 17th consecutive year by Princeton Review
• Growing Owensboro Regional Airport
Property Facts
| Sale Type | Investment | Building Size | 4,800 SF |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1972 |
| Building Class | C | Parking Ratio | 0.42/1,000 SF |
| Lot Size | 0.17 AC |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,800 SF |
| No. Stories | 1 |
| Year Built | 1972 |
| Parking Ratio | 0.42/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 4 | - | 1,200 |
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