207 Hospital DrBarbourville, KY 40906

Property Details for 207 Hospital Dr

Lot size

4.75 AC

Property type

Office buildings

APN

090-40-04-044.01

APU

90400404401

Description

This fee-simple investment opportunity presents a 34,000-square-foot office building in Barbourville, KY, currently 100% occupied by General Dynamics under a triple-net (NNN) lease. The property, located at 207 Hospital Dr, 40906, sits on a 4.75-acre lot with 375 parking spaces and is zoned for general commercial use. Built in 1999, the building boasts a strong lease history, with the current lease expiring June 30, 2025, and including options to extend for six months and one year. The lease features a 5% rental increase at the start of the second option period. The asking price is $5,168,000, representing a price per square foot of $152 and an 8.00% cap rate. The property generates a net operating income (NOI) of $413,406. The tenant, General Dynamics Information Technology, provides services to U.S. government agencies, offering a strong corporate guarantee. The property enjoys a prime location along US Highway 25E (26,600 vehicles per day), near other national retailers such as Walmart, Walgreens, and Tractor Supply Company. The surrounding area includes Barbourville Appalachian Regional Healthcare Hospital and several apartment complexes. The 5-mile trade area has a population exceeding 10,700 residents and 4,300 employees, with an average household income of $55,060. This presents a low-management, passive investment opportunity with significant upside potential. The property's APN is 090-40-04-044.01.

• CAP approach

  CAP return

  Valuation

  6%

  $35,499,784

  6.5%

  $32,769,032

  7%

  $30,428,386

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,587,964

  Geo Method

  $17,810,812

• Alternative Use

  Use

  Valuation

  Residential

  $40,633,600

  Hospitality

  $37,220,160

  Educational

  $30,966,736

  Medical

  $32,031,728

  Retail

  $48,170,476

Location Insight

City

Barbourville

County

Knox

State

Kentucky

Latitude

36.8503

Longitude

-83.8712

CBSA code

30940

CBSA name

LONDON, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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