728 Parkway Dr, Salyersville, KY 41465
- Retail properties & Spaces
- 7,225 SF
- 0.99 lot acres
Current Use by Public Records
- Retail properties & Spaces
Property Details for 728 Parkway Dr
- Year built
- 2021
- Lot size
- 0.99 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Salyersville
- County
- Magoffin
- State
- Kentucky
- Longitude
- -83.0578
- Latitude
- 37.7453
