For Sale
$1,240,183

8280 Old Mayfield Rd Paducah, KY 42003

Kentucky Retail Property, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a 9,100-square-foot Dollar General convenience store located at 8280 Old Mayfield Road, Paducah, Kentucky, 42003. The property boasts a strong 6.50% cap rate and a substantial net operating income (NOI) of $80,612. The single-story building sits on commercially zoned land and is currently operating at 100% occupancy under a Net Lease (NNN) agreement. The lease, with a corporate guarantee from Dollar General, commenced on November 24, 2019, and has a remaining term of approximately 10 years, extending to November 30, 2034. Five (5) year lease options are included, each with a 10% rent increase. The asking price is $1,240,183, translating to a price per square foot of $136.28. This presents a low-maintenance, passive income stream ideal for 1031 exchange investors. The property requires zero landlord responsibilities due to the NNN lease structure. This is a single-tenant property with a proven track record of success. The property's location in McCracken County, Kentucky, offers excellent visibility and accessibility.

Highlights

  • $1,240,183 asking price for a 9,100 SF Dollar General.
  • Net lease investment with a corporate guarantee.
  • 10-year remaining lease term (15-year initial term with 5 five-year options, 10% rent bumps in each option).
  • 6.50% cap rate with a $80,612 annual net operating income (NOI).
  • Located at 8280 Old Mayfield Road, Paducah, KY 42003.

Property Details for 8280 Old Mayfield Rd

Property type
Retail properties, Grocery and convenience stores
Square Feet
9,100 SF
Buildings
1
Stories
1

Location Insight

City
Paducah
County
McCracken
State
Kentucky
Latitude
36.9652723
Longitude
-88.6082435

FAQs

What type of property is this?
Retail property - Kentucky Retail Property, Strong NOI
Where is the retail property located?
The property is located at 8280 Old Mayfield Rd Paducah, KY.
What is the asking price?
The asking price for this property is $1,240,183.
What are key features of this property?
This property features: $1,240,183 asking price for a 9,100 SF Dollar General.; Net lease investment with a corporate guarantee.; 10-year remaining lease term (15-year initial term with 5 five-year options, 10% rent bumps in each option).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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8280 Old Mayfield Rd
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