Catylist ID:
#30860635
| 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: | 11/8/2023 |
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 6.65% cap rate and has over 13 years remaining on the initial term of the lease, with five 5-year options to renew. Highlights: 6.65% 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 |
Attachments & Media
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 |
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 |
| © Copyright 2001-2023 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Moody's assume any liability for errors or omissions. |
