For Sale
$2,357,142

239 12Th StMiddlesboro, KY 40965

7% Cap Rate, NNN Lease, KY

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional investment opportunity presents a fee-simple ownership of a 4,500-square-foot, Class A retail building in Middlesboro, Kentucky. The property, located at 239 N 12th St (US 25), sits on a 0.69-acre lot and is 100% occupied by a Fast Pace Urgent Care Clinic under a corporate-guaranteed, true triple-net (NNN) lease. Built in 2017, the single-story building benefits from a prime location near Kroger and other national retailers. The current lease, commenced December 1, 2017, has a remaining term of approximately 8 years, with two 10-year renewal options. Each option period includes a 10% rent increase, providing significant long-term income growth. The current annual net operating income (NOI) is $165,000, yielding a 7.00% capitalization rate based on the asking price of $2,357,142. The lease includes a 10% rent bump every five years, ensuring consistent returns. This is a rare opportunity to acquire a stable, high-performing investment property with a strong tenant and favorable lease terms in a desirable location. The property offers a secure investment with substantial upside potential. All information is believed to be accurate but should be independently verified.

Highlights

  • NNN lease, 4,500 SF single-tenant building fully leased to Fast Pace.
  • +/-0.694-acre site, new construction (2017) build-to-suit.
  • Excellent location on US 25 (N. 12th Street), near Kroger & national retailers.
  • 15-year NNN lease with 8.5+ years remaining, 10% rent increases every five years, and two 10-year renewal options.
  • Corporate guaranteed lease.

Property Details for 239 12Th St

Property type
Retail properties, Drug stores
Square Feet
4,500 SF
Class
A
Year Built/Renovated
2017/2017
Buildings
1
Stories
1
Lot Size (sq. ft)
30,056 SF

Location Insight

City
Middlesboro
County
Bell
State
Kentucky
Latitude
36.610500899641
Longitude
-83.702667117967
239 12Th St, Middlesboro, Kentucky

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239 12Th St
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