376 Big Hill AveRichmond, KY 40475

Property Details for 376 Big Hill Ave

Property size (Sq ft)

38 SF

Property type

Retail properties

Property subtype

Retail space

APN

R011-0001-0005

APU

R01100010005

Description

This exceptional investment opportunity presents a 7,405 square foot auto shop in Richmond, KY, situated on a 0.61-acre lot at 376 Big Hill Ave. The property is currently 100% occupied under a 20-year absolute triple-net (NNN) lease with a strong corporate guarantor, Main Street Auto, a rapidly expanding automotive repair chain. The lease commenced upon closing and features annual rent of $205,000, with built-in 2% annual rent increases. This provides a compelling 7.00% cap rate and a significant return on investment. The lease includes four, five-year renewal options, extending the potential lease term to a total of 40 years, offering long-term stability and predictable income. The asking price is $2,928,571, translating to $395.49 per square foot. This NNN lease structure ensures minimal landlord responsibilities, making this a low-maintenance, high-return investment. The tenant's financial strength and the long-term lease structure make this a secure and attractive investment opportunity in a growing market. The property's location in Richmond, KY, provides excellent access to a substantial customer base. This is a rare opportunity to acquire a high-performing, well-located auto shop with significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $9,584

  6.5%

  $8,847

  7%

  $8,215

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,140

  Geo Method

  $8,243

• Alternative Use

  Use

  Valuation

  Residential

  $7,463

  Hospitality

  $6,836

  Educational

  $5,687

  Medical

  $5,883

  Retail

  $8,847

Location Insight

City

Richmond

County

Madison

State

Kentucky

Latitude

37.7391

Longitude

-84.2845

CBSA code

40080

CBSA name

RICHMOND-BEREA, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

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.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].