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    728 Parkway Dr Salyersville, KY 41465

    For Sale
    $2,118,080

    Net-leased O'Reilly Auto Parts; strong returns.

    Property size:
    7,225 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a fee-simple ownership of a 7,225-square-foot O'Reilly Auto Parts store in Salyersville, Kentucky. Built in 2021, the property boasts a prime location at the hard corner intersection of Ward Road and Parkway Drive, a primary retail and commuter thoroughfare. The 15-year net lease, commencing April 30, 2021, and expiring April 30, 2036, has a remaining term of 11.5 years, with four (five-year) renewal options. O'Reilly Auto Parts, an investment-grade tenant (S&P: BBB), provides a corporate-guaranteed lease with a 6% rental increase in year 11 and at the beginning of each option period. The property features a 5.00% cap rate and a net operating income (NOI) of $105,904, with an asking price of $2,118,080 ($293.16/sq ft). Landlord responsibilities are limited to roof, structure, and parking lot; tenant covers CAM, taxes, and insurance. The 0.994-acre lot is situated directly in front of Logan Corporation, a diversified manufacturer, ensuring high visibility and accessibility. The strong local demographics, with over 15,700 residents and 2,500 employees within a 10-mile radius, further enhance the investment potential. This is an ideal, low-management investment for passive investors seeking a stable, high-return property with a credit-rated tenant. The property is suitable for a 1031 exchange.

    Property Features for 728 Parkway Dr

    General Information

    Property type
    Automotive properties
    Square Feet
    7,225 SF
    Lot Size
    43,299 SF

    Building Details

    Year Built
    2021
    Stories
    1

    HighLights

    • $2,118,080 asking price for a Net Leased O'Reilly Auto Parts storefront.
    • 7,225 square feet on a 0.994‑acre lot, built in 2021.
    • 11.5 years remaining on a 15‑year lease with 4 (5) year renewal options and 6% rent bumps in year 11.
    • NN lease; tenant pays CAM, taxes, and insurance; landlord responsible for roof, structure, and parking lot.
    • Located at a hard corner intersection in Salyersville, KY, with excellent visibility and access.
    • Investment‑grade tenant (S&P: BBB) with a strong corporate guarantee.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Spa & Massage Restaurant Hair Salon Dental Office Building Supply Nail Salon Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salyersville
    County
    Magoffin
    State
    Kentucky
    Longitude
    -83.0578187
    Latitude
    37.7452516

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    FAQs

    What type of property is this?
    Automotive property - Net-leased O'Reilly Auto Parts; strong returns.
    Where is this automotive property located?
    The property is located at 728 Parkway Dr Salyersville, KY.
    What is the asking price?
    The asking price for this property is $2,118,080.
    What are key features of this property?
    This property features: $2,118,080 asking price for a Net Leased O'Reilly Auto Parts storefront.; 7,225 square feet on a 0.994-acre lot, built in 2021.; 11.5 years remaining on a 15-year lease with 4 (5) year renewal options and 6% rent bumps in year 11.
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    728 Parkway Dr Salyersville, KY 41465
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    728 Parkway Dr Salyersville, KY 41465
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