301 Farthing StMayfield, KY 42066

Property Details for 301 Farthing St

Property size (Sq ft)

10,600 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 10,600-square-foot Family Dollar store located at 301 W Farthing St, Mayfield, KY 42066. The property is situated in Graves County, benefiting from a strong demographic profile with a population of 17,300 within a 5-mile radius and 28,652 within 10 miles. The current lease, a Net Lease (NN+) agreement, extends to December 31, 2029, providing a remaining term of 5.1 years. Family Dollar recently exercised a third 5-year option early, demonstrating a strong commitment to the location. Two additional 5-year option periods remain. The property boasts 100% occupancy and a current Net Operating Income (NOI) of $41,625. A significant rent increase is scheduled for January 1, 2025, to $58,565, representing a 9.40% cap rate increase. Further enhancing the investment appeal, Family Dollar is currently undergoing a complete remodel to reflect their latest H2.5 store prototype. Recent improvements include a newly completed parking lot and fresh exterior paint. The property enjoys a convenient location, within walking distance of a high school and directly across the street from a Food Giant grocery store, surrounded by residential neighborhoods. This is a perfect bite-sized, long-term investment opportunity in a stable market. The property's strategic location and the tenant's demonstrated commitment make this a compelling investment prospect with significant upside potential.

Location Insight

City

Mayfield

County

Graves

State

Kentucky

Latitude

36.7297

Longitude

-88.6391

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