Current Use by Public Records
- Retail properties & Spaces
Property Details for 8708 Ky-7
- Year built
- 2019
- Lot size
- 1.60 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a freestanding Family Dollar store in Viper, Kentucky. Built in 2019, this 8,320 square foot building sits on a 1.6-acre lot at 8708 KY-7, 41774. The property boasts a strong 9.25% cap rate, generating a net operating income (NOI) of $97,582. The current lease, a triple-net (NNN) agreement with a corporate guarantee from Family Dollar Stores, Inc., has a remaining term of approximately 4.4 years, extending to March 30, 2029. The lease includes six, five-year options with $0.50 per square foot rent bumps every five years starting in the option periods. There is zero dollar store competition within a 15-minute drive. The asking price is $1,055,000, translating to $126.80 per square foot. This property offers a secure, long-term investment with a proven tenant and significant upside potential. The location benefits from high visibility and accessibility, ensuring consistent customer traffic. This is a rare opportunity to acquire a well-performing, strategically located retail asset with a strong tenant and favorable lease terms. The property's solid financial performance, coupled with the long-term lease and rent escalations, makes it an attractive investment for discerning buyers seeking stable returns and appreciation potential.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Viper
- County
- Perry
- State
- Kentucky
- Longitude
- -83.0884
- Latitude
- 37.156
