Building Details

Tenancy Single

Listing Agency: Encore Real Estate Investment Services

Listed By: Mike West · License #KY275615 Show Phone

Source: Crexi

Added: Sep 15 Changed: Nov 4 Last Checked: Nov 6 at 7:23AM

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Investment Insights

Based on property information with market context.

This 6,117-square-foot Dollar General store occupies a 1.0-acre site at 880 Pendleton Rd in Pendleton, Kentucky. The property is leased under a corporate guarantee, and the tenant has operated at the location for more than 15 years. An early renewal signed in 2024 begins in August 2025 and extends the lease through July 2030, followed by five additional 5-year renewal options that include rental increases.

The property is positioned approximately a half-mile from Interstate 71 and benefits from exposure to more than 39,000 vehicles per day at the nearby exit. Annual visitation is reported at more than 114,000. The store serves Pendleton and surrounding rural communities from a retail corridor located between Louisville and Cincinnati.

Key Highlights

• 6,117 SF Dollar General store on 1.0 acre
• Corporate‑guaranteed lease with term through July 2030
• Five additional 5‑year renewal options with rental increases

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,120

Cap Rate

6.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,222,400 $1.2M

Cap Rate 7%

$873,143 $873.1K

Cap Rate 9%

$679,111 $679.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,117 SF

Gross rent

$95.4K $15.60/SF

− Vacancy

−$8.1K −$1.33/SF

EGI

$87.3K $14.27/SF

− OpEx

−$26.2K −$4.28/SF

NOI

$61.1K $9.99/SF

Area

Henry County, KY

Vacancy

8.50%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,222,400

Cap Rate 7%

$873,143

Cap Rate 9%

$679,111

Alternative Uses

Best Use

Retail

$873.1K

$764.0K – $1.02M (±1% cap)

NOI $61,120 @ 7.0% cap · market cap 6.61%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.29M

$1.13M – $1.50M (±1% cap)

NOI $90,269 @ 7.0% cap · market cap 9.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Building Supply HVAC Service (Bike/Boat/Book/etc) Store Parking Lot & Garage Pharmacy Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

40

Businesses Nearby

5k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

5,287 visits/mo 0.2 miles

Demographics for 40055, KY

2,070

Population

1,040

Households

2

Avg Household Size

45

Median Age

15%

College-Educated

89%

High-School Grad

23.6 sq mi

ZIP Area

88

Density / Sq Mi

$83,401

Median Household Income

$48,101

Median Earnings

$1,096

Median Rent

$193,900

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

NNN property - Corporate-backed net lease with renewal options and an established retail tenancy.

Where is this nnn property located?

The property is located at 880 PENDLETON RD Pendleton, KY.

What is the asking price?

The asking price for this property is $925,000.

What are key features of this property?

This property features: 6,117 SF Dollar General store on 1.0 acre; Corporate‑guaranteed lease with term through July 2030; Five additional 5‑year renewal options with rental increases