3604 Ky-3630 Annville, KY 40402
- Specialty properties
- 12,480 SF
- 2.15 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 3604 Ky-3630
- Year built
- 2022
- Lot size
- 2.15 lot acres
- Property size
- 12,480 SF
- Property type
- Specialty properties
- Property subtype
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple ownership of a 12,480 square foot Dollar General Market in Annville, Kentucky. The property boasts a 15-year absolute NNN lease with a credit-rated corporate guarantor, leaving 13.3 years remaining on the current term, commencing March 5, 2023, and expiring March 5, 2038. The lease includes five, 5-year renewal options with a 10% rent increase. Built in 2022, this single-tenant building sits on a 2.15-acre lot and offers a strong 7.00% cap rate with a net operating income (NOI) of $104,733, resulting in an asking price of $1,496,185 ($119.89/sq ft). The property benefits from a stable market, serving a population exceeding 5,000 residents within a 5-mile radius. This Dollar General Market features an expanded product selection, including produce and fresh grocery options, providing a significant advantage over traditional Dollar General stores. The absolute NNN lease structure ensures zero landlord responsibilities. This property is part of a larger 28-unit portfolio in Kentucky, offering the potential for individual or portfolio acquisition. The property is located at 3604 KY-3630, Annville, KY 40402.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Annville
- County
- Jackson
- State
- Kentucky
- Longitude
- -83.9561
- Latitude
- 37.322
