For Sale
$1,260,000

4790 Highway 2565Louisa, KY 41230

High-yield, NN retail investment. Strong tenants, long lease terms.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 22,236 square foot, single-story retail property located at 4790 Hwy 2565, Louisa, KY 41230. The property is situated on a 1.59-acre lot and features two national tenants: Save A Lot and Advance Auto Parts, operating under double-net (NN) leases. The property boasts 100% occupancy, with a current NOI of $116,600 and a 9.25% cap rate. The asking price is $1,260,000, translating to $56.66 per square foot. Built in 1998, the property benefits from a prime location within a retail cluster near US Highway 23, offering excellent visibility and accessibility. The leases are long-term, with Save A Lot's lease expiring December 30, 2025, and including two renewal options (one 3-year and one 5-year). Advance Auto Parts' lease also expires December 30, 2025, and includes two 5-year renewal options, with a 10% rent increase in the second option. The property includes 57 parking spaces and is zoned COMMERCIAL. Its strategic location near a major highway, a 90-bed medical center, and other retail establishments ensures consistent traffic and strong tenant performance. This is a rare opportunity to acquire a stable, high-performing retail investment with significant upside potential. The property offers a compelling combination of strong tenants, long-term leases, and a desirable location, making it an ideal addition to any investment portfolio.

Highlights

  • Long-term tenants with double-net (NN) leases.
  • Advance Auto Parts has two 5-year renewal options, with a 10% rent increase in the second.
  • Corporate lease with Advance Auto Parts.
  • Save-A-Lot anchored by Houchens Industries Inc., a 400-location operator.
  • Three blocks from a signalized intersection on US Highway 23 with over 15,300 AADT.
  • $71,948 average household income within a one-mile radius.

Property Details for 4790 Highway 2565

Property type
Retail properties, Grocery and convenience stores
Square Feet
22,236 SF
Year Built
1998
Buildings
1
Stories
1
Lot Size (sq. ft)
69,260 SF
Units
2

Location Insight

City
Louisa
County
Lawrence
State
Kentucky
Latitude
38.12468527
Longitude
-82.62394789
4790 Highway 2565, Louisa, Kentucky

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4790 Highway 2565
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