Dollar General Plus | Olive Hill, KY

Retail-Commercial for Sale
Catylist Listing ID: 30860635
Property Subtypes: Free-Standing Building
Building Size (RSF): 10,542 SF
Gross Building Area: See Agent
Gross Land Area: 1.64 Acres
Sale Price: $1,410,090
Unit Price: $133.76 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/17/2024

Overview / Comments

We are pleased to present this excellent Dollar General Plus investment opportunity in Olive Hill, KY. This property was built in 2022 and is subject to a 15-year NNN lease to Dollar General Corporation (BBB). This location is strategically located on KY-2 off of Exit 156 on 1-64. Traffic counts are 3,000 on KY-2 and 12,500 on I-64. Olive Hill, is best known for Carter Caves State Resort Park which brings tourists year-round. This investment opportunity is priced at a 6.85% cap rate and has over 13 years remaining on the initial term of the lease, with five 5-year options to renew.

Highlights:
6.85% Cap Rate
Annual Rent: $93,771
NNN Lease with 13+ Years Remaining
Corporate Guarantee: Dollar General Corporation
High Traffic Interstate Location (I-64) - 12,500 VPD
3,000 VPD KY-2

Additional Details

Nearest MSA: Huntington-Ashland
County: Carter
Tax ID/APN: 9752e7d2-a9be-4e8b-a7d0-683b47dfad9e1689
Zoning: COMMERCIAL
Area Description: Olive Hill, Kentucky, boasts a tranquil yet thriving community. Positioned amidst scenic landscapes and historical charm, this town is well known for its outdoor activities, local restaurants, and Carter Caves State Resort Park. This property is conveniently located on KY-2 at Exit 156 on I-64. Olive Hill lies east of Lexington, KY and close to the Kentucky-West Virginia border.
Tenancy: Single Tenant
Total Number of Buildings: 1
Year Built: 2022

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,480 2,699 6,570
Median Age: 41.09 39.03 39.59
Households: 589 1,052 2,600
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