For Sale
$2,802,000

3521 James Sanders BlvdPaducah, KY 42001

American Freight Furniture, Paducah, KY

Overview

Added:
Dec 11, 2024
Days on market:
118
Exceptional investment opportunity: a 23,500 square foot American Freight Furniture storefront in Paducah, Kentucky. This fee-simple property boasts a strong, national corporate tenant with a 15.1-year lease (8.9 years remaining) commencing September 1, 2018, and expiring September 30, 2033. The lease is a Net Lease (NN+) with a corporate guarantee, ensuring consistent income. The property features a 7.75% cap rate and a current NOI of $217,180, with a significant 21% rent increase built into the first option, boosting the cap rate to 9%. The asking price is $2,802,000 ($119.23/sq ft). Built in 2018, this single-unit building sits on a 2.79-acre lot and includes a metal roof and concrete lot. The property benefits from its strategic location in Paducah, a county seat within a metropolitan area exceeding 100,000 residents, situated midway between Nashville and St. Louis. This area is a hub for logistics, shipping, manufacturing, and transportation, with easy access to I-24 and the I-69 corridor. The property enjoys shadow-anchoring by the high-performing Kentucky Oaks Mall (5.7 million annual visitors), further enhancing its visibility and appeal. American Freight, owned by Franchise Group, Inc. (a company with $4.93 billion in 2023 revenue), has a strong national presence with over 370 locations across 40 states, providing stability and confidence in this investment. This below-market rent property presents a compelling opportunity for investors seeking a secure, high-return investment with significant upside potential.

Highlights

  • American Freight Furniture & Appliance; strong national tenant with 370+ locations.
  • American Freight is owned by Franchise Group, Inc., a publicly traded company with $4.93B in 2023 revenue.
  • Below-market rent; 21% rent increase option; 9% cap rate in option.
  • Shadow-anchored by Kentucky Oaks Mall (5.7M annual visitors); anchored by Kohl's, Ross, Dick's Sporting Goods, Best Buy, Dillard's, HomeGoods, and Old Navy.
  • Located in Paducah, KY, a county seat in a metro area exceeding 100,000, strategically positioned between Nashville and St. Louis.
  • Situated in a logistics, shipping, manufacturing, and transportation hub with I-24 and I-69 access.

Property Details for 3521 James Sanders Blvd

Property type
Retail properties, Retail space
Square Feet
23,500 SF
Year Built
2018
Lot Size (sq. ft)
121,532 SF
Units
1

Location Insight

City
Paducah
County
McCracken
State
Kentucky
Latitude
37.083281
Longitude
-88.6866069
3521 James Sanders Blvd, Paducah, Kentucky

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3521 James Sanders Blvd
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