Fort Campbell Blvd
Oak Grove, KY 42262
Investment Opportunity · Land For Sale · 110.00 AC

Offering Description: This marketing effort represents the opportunity purchase and develop, either in whole or in part, a high-visibility lot with 2,500’ of frontage on Fort Campbell Boulevard - the main arterial that supports the entirety of the Fort Campbell Army Base, the city of Oak Grove, traffic from nearby Clarksville and Hopkinsville, and the Churchill Downs Racing & Gaming Facility opening this summer. This property can be used to develop virtually any product type, including but not limited to all retail types, residential, office, industrial, self storage, and more. The ownership is serious about transacting this property and is considering all offers. Economic Benefits: The 3.5% sales tax advantage of Kentucky over Tennessee has resulted in Tennessee residents accounting for an overwhelming majority of Oak Grove shoppers. Oak Grove Village enjoys the benefit of a strong, established cross-border customer base that takes advantage of Kentucky’s 6.0% sales tax as opposed to Tennessee’s much higher 9.5%. Proximity to Fort Campbell: The project is located directly across from Fort Campbell’s Gate 7 entry point. The base is comprised of young, highly-educated, brad-loyal consumers and patrons with a total population of approximately 176,834 and a payroll of $2.43 Billion. Many soldiers do not live on-base, and the base has continual struggles finding affordable housing for its population. In addition to a stipend for living expenses, active soldiers are exempt from paying Kentucky State Income Tax, making Kentucky real estate much more appealing to soldiers than average citizens. Up to $41,400 of annual income for retired soldiers is also exempt from Kentucky State Income Tax. Proximity to Clarksville & Hopkinsville: The subject property is well located two miles north of Clarksville's “Tiny Town” neighborhood located immediately south of the KY/TN border. Clarksville has seen the fastest growth of any Nashville suburb and has had significant business and residential development over the last decade. Clarksville was MONEY’s number one “Best Place to Live in 2019” and ranked Top 5 in the 2012 “Fastest-Growing cities in the United States”. Notable industry in Clarksville includes a defunct Hemlock Semiconductor plant which has been acquired by Google and retrofitted for use as a datacenter, an LG is appliance factory currently employing between 550-750 individuals, and Hankook Tire Company’s 1,800 employee tire manufacturing operation. Located 17 minutes north on Fort Campbell Boulevard, the city of Hopkinsville houses U.S. Smokeless Corporation’s expanded tobacco processing facility which produces the Skoal and Copenhagen brands of tobacco. All the tobacco used in these products are grown within an 80-mile radius of Oak Grove, positively impacting the local farm economy. Oak Grove, and subsequently the Subject Property, are well-positioned to continue growing alongside Clarksville and Hopkinsville for many years to come. Oak Grove Festival & Tourism: Oak Grove Tourism owns and operates the parcel of land just north of the Subject Property, which includes an outdoor amphitheater, walking trail, frisbee golf course, a children's playground, a Monarch butterfly sanctuary/garden, and a 36,000 SF convention center and meeting space known as Valor Hall. The tourism commission hosts annual festivals and events that attract a large crowds of 30,000 or more to the festival/fairgrounds annually. The Spring into Summer Festival is known to bring big name artists and continues to grow every year. The onsite Convention Center is also available for events year-round. There is an opportunity for the developer of the Subject Property, Oak Grove Village, to build a walking path over to the neighboring Tourism property and for the use of residents or customers. Demographic Profile: The site’s location contains several demographic factors supporting this project. Explosive growth in the greater Nashville area has countered other regional trends and has made commercial and retail space scarce, particularly in Nashville’s exurbs. The median age for the area is lower than the national average, as is median household income; the large population of nearby Fort Campbell Army Base clearly impacts this trend. This solid and growing population metrics show strong demand for a retail shopping destination in short regional supply. The site’s location shows to have a unique demographic advantage for a major retail development. Current shopping volume and geographic draw in the Oak Grove area demonstrate a strong market for retail in and around the project site. LISTING IS BEING SOLD UNPRICED, CALL AGENTS FOR PRICING GUIDANCE. ALL REASONABLE OFFERS WILL BE CONSIDERED.