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    200 Letton Dr Paris, KY 40361

    Sponsored
    For Sale
    $3,055,000

    NNN Leased Retail Investment, High ROI

    Property size:
    3,726 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 3,726 square foot, single-tenant retail building fully occupied by Fast Pace Health Urgent Care. Located in Paris, Kentucky, at 200 Letton Dr, this property sits on a 0.93-acre lot (APN: 026-00-00-021.09) and boasts a prominent location on a signalized intersection with high traffic volume exceeding 29,700 vehicles per day. The property benefits from a strong tenant in Fast Pace Health, a rapidly expanding urgent care provider with over 250 clinics across six states. The current Net Lease (NNN) agreement features a 14.4-year remaining term (commencing November 9, 2023, and expiring March 31, 2039), with three 5-year option periods and 10% rent increases every five years. The lease provides minimal landlord responsibilities, ensuring a low-maintenance investment. The property's Net Operating Income (NOI) is $200,000, resulting in a 6.55% capitalization rate. The asking price is $3,055,000, translating to $819.91 per square foot. Nearby retailers include Walmart Supercenter, Save A Lot, Tractor Supply Co., DaVita Dialysis, McDonald's, and Taco Bell, further enhancing the property's desirability and potential for long-term value appreciation. This is a rare opportunity to acquire a stable, high-performing investment with significant upside potential in a growing market.

    Property Features for 200 Letton Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,726 SF
    Lot Size
    40,511 SF

    HighLights

    • Brand new 15‑year NNN corporate lease with Fast Pace Urgent Care, a rapidly expanding private company.
    • High‑traffic location in a dense retail area with major retailers nearby.
    • Located in Paris, KY, a fast‑growing suburban city with strong demographics.
    • Investment in a rapidly growing urgent care market segment.
    • Fast Pace Health operates 265+ clinics, offering urgent care and physical therapy, with significant growth in the Southeast.
    • Lease includes 10% rent increases every five years, with option periods, and minimal landlord responsibilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fast Pace Health ... Medical Clinic

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Paris
    County
    Bourbon
    State
    Kentucky
    Longitude
    -84.2750066
    Latitude
    38.1950841

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    FAQs

    What type of property is this?
    Individual retail property - NNN Leased Retail Investment, High ROI
    Where is this individual retail property located?
    The property is located at 200 Letton Dr Paris, KY.
    What is the asking price?
    The asking price for this property is $3,055,000.
    What are key features of this property?
    This property features: Brand new 15-year NNN corporate lease with Fast Pace Urgent Care, a rapidly expanding private company.; High-traffic location in a dense retail area with major retailers nearby.; Located in Paris, KY, a fast-growing suburban city with strong demographics.
    Request Owner's contact information
    200 Letton Dr Paris, KY 40361
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    Paris, KY 40361
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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
    200 Letton Dr Paris, KY 40361
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