1151 Morton LnMaysville, KY 41056

Property Details for 1151 Morton Ln

Year built

1989

Construction

FRAME

Lot size

15.00 AC

Property size (Sq ft)

156,650 SF

Property type

Auto shops

APN

042-00-00-003.05

APU

42000000305

Description

This exceptional investment opportunity presents a 153,600-square-foot distribution center in Maysville, Kentucky, currently 100% net-leased to Good360, a top-ranked national charity. Built in 1988, the property boasts 17 loading docks, one dock-high door, and a ceiling height ranging from 23 to 25 feet. The property features a desirable column spacing of 36' x 36'. The asking price is $7,215,000, representing a compelling price per square foot of just under $50 and an attractive 8.75% cap rate, generating a net operating income (NOI) of $631,249. The lease, with six years remaining as of November 2, 2024, includes attractive annual rent increases of 3%. Good360 strategically chose this location to optimize its distribution network, reflecting the property's prime location and functionality. In 2022, Good360 distributed $2.5 billion in donated goods, solidifying its position as a financially stable and reputable tenant (ranked #2 on Forbes' 2022 list of America's Top 100 Charities). This presents a rare opportunity to acquire a high-performing, net-leased industrial asset with a strong tenant and significant remaining lease term in a desirable location. The property's robust financial performance, coupled with the tenant's impressive track record, makes this an ideal addition to any investment portfolio. The property is located at 1151 Morton Ln, Maysville, KY 41056.

Location Insight

City

Maysville

County

Mason

State

Kentucky

Latitude

38.6431

Longitude

-83.8126

CBSA code

32500

CBSA name

MAYSVILLE, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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