421 Main St McKee, KY 40447
- Retail properties
- 740,520 SF
- 17.54 lot acres
Current Use by Public Records
- Carquest Auto Parts - McKee Auto Supply / Auto Parts Store
Property Details for 421 Main St
- Year built
- 9999
- Lot size
- 17.54 lot acres
- Property size
- 740,520 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
Exceptional investment opportunity in McKee, KY, presents a substantial multi-tenant property currently boasting 98% occupancy. This portfolio comprises a diverse mix of income-producing assets, including a 5,000 square foot professional office building, eight manufactured homes, twenty-eight storage units ranging in size from 10x10 to 12x38, and three residential buildings totaling approximately 3,510 square feet. The property sits on a sizable 17.54-acre lot and features a total of 740,520 square feet of space across nineteen buildings, spread across two stories. The property's strong performance is reflected in its impressive 9.87% cap rate and a substantial net operating income (NOI) of $94,000. The asking price is $1,200,000, translating to a price per square foot of $1.62. Recent renovations (2022/2024) enhance the property's value and appeal. The property is zoned residential and includes ample parking with 22 spaces per unit. The property is currently managed by Lakewood Rentals and includes 43 units and 41 tenants. Financial records are available upon request. This is a rare opportunity to acquire a well-established, high-performing rental portfolio in a stable market. The property's diverse tenant base and strong occupancy rate provide a secure and profitable investment.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- McKee
- County
- Jackson
- State
- Kentucky
- Longitude
- -84.0185
- Latitude
- 37.4485
