Corporate-Leased Retail
For Sale
Contact for pricing
3521 James Sanders Blvd, Paducah, KY 42001
Build-to-suit retail property occupied by American Freight on a corporate lease.
Property Size23,500 SF
Price / SF$123.28
Days on Market206
Property Features for 3521 James Sanders Blvd
General Information
Standard status
Active
Size
23,500 SF
Property subtype
RETAIL
Building Details
Year Built
2018
Listing Agency:
Lee & Associates | North San Diego County
(760) 929-9700
Listed By:
Ryan Bennett · License #01826517
(760) 519-0240
Source:
Moodyscre
Added: Feb 18
Changed: Aug 15
Last Checked: Sep 12 at 6:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates | North San Diego County
Investment Insights
Based on property information with market context.
This build-to-suit retail investment property was constructed in 2018 and is currently under a corporate lease with American Freight Furniture & Appliances. The offering is presented as an American Freight tenant opportunity tied to the company’s ongoing operations.
The property is located at 3521 James Sanders Blvd in Paducah, Kentucky.
American Freight, a subsidiary of Franchise Group Inc., operates more than 370 U.S. locations across 40 states, with reported sales exceeding $862 million in 2022.
The property is located at 3521 James Sanders Blvd in Paducah, Kentucky.
American Freight, a subsidiary of Franchise Group Inc., operates more than 370 U.S. locations across 40 states, with reported sales exceeding $862 million in 2022.
Key Highlights
- Build‑to‑suit retail property in Paducah, KY, occupied by American Freight
- American Freight corporate lease (2018 build‑to‑suit investment)
- American Freight is a subsidiary of Franchise Group Inc.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$256,916
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,138,320
$5.1M
Cap Rate 7%
$3,670,229
$3.7M
Cap Rate 9%
$2,854,622
$2.9M
Market Conditions
NOI Build-Up for 23,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$386.3K $16.44/SF
− Vacancy
−$19.3K −$0.82/SF
EGI
$367.0K $15.62/SF
− OpEx
−$110.1K −$4.69/SF
NOI
$256.9K $10.93/SF
Area
McCracken County, KY
Vacancy
5.00%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,138,320
Cap Rate 7%
$3,670,229
Cap Rate 9%
$2,854,622
Alternative Uses
Best Use
Retail
$3.67M
$3.21M – $4.28M
NOI $256,916 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.90M
$4.28M – $5.71M
NOI $342,747 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
692k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 25%
Shops & Services 23%
Apparel 22%
Superstores 16%
Sam's Club
Superstores
108,351 visits/mo
0.2 miles
Hobby Lobby
Shops & Services
53,113 visits/mo
0.2 miles
DICK'S Sporting Goods
Apparel
48,620 visits/mo
0.3 miles
Five Below
Shops & Services
43,601 visits/mo
0.3 miles
Burlington
Apparel
40,058 visits/mo
0.4 miles
Demographics for 42001, KY
31,579
Population
14,815
Households
2.1
Avg Household Size
41
Median Age
36%
College-Educated
94%
High-School Grad
74.2 sq mi
ZIP Area
426
Density / Sq Mi
$68,868
Median Household Income
$42,334
Median Earnings
$916
Median Rent
$210,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Build-to-suit retail property occupied by American Freight on a corporate lease.
Where is this retail space located?
The property is located at 3521 James Sanders Blvd Paducah, KY.
What is the asking price?
The asking price for this property is $2,897,000.
What are key features of this property?
This property features: Build‑to‑suit retail property in Paducah, KY, occupied by American Freight; American Freight corporate lease (2018 build‑to‑suit investment); American Freight is a subsidiary of Franchise Group Inc.
