For Sale
$1,603,745

720 Slate AveOwingsville, KY 40360

High-traffic, NNN-leased retail investment

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple ownership of a 10,640-square-foot Dollar General Market in Owingsville, Kentucky. Built in 2022, this property boasts a strong 12.8 years remaining on a 15-year absolute NNN lease with a credit-rated tenant backed by a corporate guarantee. The lease features five, 5-year renewal options with a 10% rent increase. The property's strategic location on a main retail corridor ensures high visibility and accessibility, with daily traffic counts exceeding 7,500 vehicles. This prime location is further enhanced by its proximity to established national brands such as McDonald's, Taco Bell, Dairy Queen, and Subway. The Dollar General Market concept offers an expanded selection of grocery and produce items, catering to the local community's needs. The property generates a substantial net operating income (NOI) of $112,262, resulting in a compelling 7.00% cap rate. The asking price is $1,603,745, translating to $150.73 per square foot and $1,603,745 per unit. This property is part of a larger Kentucky portfolio. The one-building property sits on a one-acre lot. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with significant long-term potential.

Highlights

  • Absolute NNN lease with Dollar General.
  • 2022-built Dollar General Market with 13+ years remaining on a 15-year lease.
  • Expanded grocery and produce selection due to the "Market" concept.
  • High-traffic location on main retail corridor, near McDonald's, Taco Bell, Dairy Queen, and Subway.
  • Daily traffic exceeding 7,500 vehicles.
  • Part of a larger 28-unit Kentucky portfolio.

Property Details for 720 Slate Ave

Property type
Specialty properties, Retail properties
Square Feet
10,640 SF
Year Built
2022
Buildings
1
Lot Size (sq. ft)
43,560 SF
Units
1

Location Insight

City
Owingsville
County
Bath
State
Kentucky
Latitude
38.1353306
Longitude
-83.7600033
720 Slate Ave, Owingsville, Kentucky

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720 Slate Ave
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