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207 Hospital Dr Barbourville, KY 40906

For Sale
$5,168,000

Corporate-guaranteed office building, high occupancy.

Property size:
34,000 SF

Description

Added:
Dec 11, 2024
Days on Market:
368
This fee-simple investment opportunity presents a 34,000-square-foot office building in Barbourville, KY, currently 100% occupied by General Dynamics under a triple-net (NNN) lease. The property, located at 207 Hospital Dr, 40906, sits on a 4.75-acre lot with 375 parking spaces and is zoned for general commercial use. Built in 1999, the building boasts a strong lease history, with the current lease expiring June 30, 2025, and including options to extend for six months and one year. The lease features a 5% rental increase at the start of the second option period. The asking price is $5,168,000, representing a price per square foot of $152 and an 8.00% cap rate. The property generates a net operating income (NOI) of $413,406. The tenant, General Dynamics Information Technology, provides services to U.S. government agencies, offering a strong corporate guarantee. The property enjoys a prime location along US Highway 25E (26,600 vehicles per day), near other national retailers such as Walmart, Walgreens, and Tractor Supply Company. The surrounding area includes Barbourville Appalachian Regional Healthcare Hospital and several apartment complexes. The 5-mile trade area has a population exceeding 10,700 residents and 4,300 employees, with an average household income of $55,060. This presents a low-management, passive investment opportunity with significant upside potential. The property's APN is 090-40-04-044.01.

Property Features for 207 Hospital Dr

General Information

Property type
Office Properties & Spaces
Square Feet
34,000 SF
Lot Size
206,910 SF

Building Details

Year Built
1999

HighLights

  • Fee‑simple ownership of a 34,000 SF office building in Barbourville, KY, fully occupied by General Dynamics under a triple‑net (NNN) lease with corporate guarantee and extension options.
  • Triple‑net (NNN) lease with limited landlord responsibilities.
  • Excellent location on US Hwy 25E (26,600 VPD), near national retailers like Walmart and Walgreens, on a 4.75‑acre lot with 375 parking spaces.
  • Strong demographics: 5‑mile trade area with over 10,700 residents and 4,300 employees, average household income $55,060.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Hotel & Motel

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

Location Insight

  • Map
  • Local Demand
City
Barbourville
County
Knox
State
Kentucky
Longitude
-83.8715991
Latitude
36.8506942

FAQs

What type of property is this?
Office Property / Space - Corporate-guaranteed office building, high occupancy.
Where is this office property / space located?
The property is located at 207 Hospital Dr Barbourville, KY.
What is the asking price?
The asking price for this property is $5,168,000.
What are key features of this property?
This property features: Fee-simple ownership of a 34,000 SF office building in Barbourville, KY, fully occupied by General Dynamics under a triple-net (NNN) lease with corporate guarantee and extension options.; Triple-net (NNN) lease with limited landlord responsibilities.; Excellent location on US Hwy 25E (26,600 VPD), near national retailers like Walmart and Walgreens, on a 4.75-acre lot with 375 parking spaces.
More about this property
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