9751 Millard Hwy Pikeville, KY 41501
- Specialty properties
- 12,668 SF
- 2.09 lot acres
Current Use by Public Records
- DG Market / General Store / Seasonal Goods Store
- Marrowbone Fire Department Station 2 and Community Center / Fire Station
Property Details for 9751 Millard Hwy
- Year built
- 2022
- Lot size
- 2.09 lot acres
- Property size
- 12,668 SF
- Property type
- Specialty properties
- Property subtype
- Retail properties
Description
This exceptional investment opportunity presents a 12,668-square-foot Dollar General Market in Pikeville, Kentucky. The property boasts a nearly full 15-year absolute NNN lease (expiring November 30, 2037), offering significant passive income with zero landlord responsibilities. Built in 2022, this single-tenant building sits on a 2.09-acre lot with high visibility, fronting Millard Highway, a road with over 12,305 vehicles per day. The lease includes five 5-year options with a 10% rent increase in each option period. The property's strong tenant, a credit-rated corporation with a corporate guarantee, ensures consistent cash flow. With a current NOI of $107,199 and an asking price of $1,531,425, this represents a compelling 7.00% cap rate and a price per square foot of $120.89. The property is located approximately 11 miles from downtown Pikeville and the University of Pikeville. This is a rare opportunity to acquire a newly constructed, high-performing retail asset with a long-term lease and significant upside potential. The property's location and strong tenant combine to create a secure and profitable investment.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pikeville
- County
- Pike
- State
- Kentucky
- Longitude
- -82.4187
- Latitude
- 37.3688
