Current Use by Public Records
- Specialty properties
Property Details for 6775 Ky-7
- Year built
- 2022
- Lot size
- 1.99 lot acres
- Property type
- Specialty properties
- Property subtype
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a 10,640-square-foot Dollar General store located at 6775 KY-7, Blackey, KY 41832. Built in 2022, this single-tenant property sits on a spacious 1.99-acre lot with a concrete parking lot, ensuring ample customer parking. The property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $92,565. The absolute NNN lease, with a credit-rated corporate guarantor, minimizes landlord responsibilities. The current lease term extends to July 31, 2037, offering a remaining lease term of approximately 12.7 years. Five 5-year lease options are included, each with a 10% rent increase. The property's strategic location serves as a primary retail source for the community, minimizing competition. The asking price is $1,322,370, translating to a price per square foot of $124.28 and a price per unit of $1,322,370. The tenant is responsible for HVAC maintenance. This is a low-price-point, newer development offering a secure and passive income stream for investors. The property's size and location make it an attractive investment with significant long-term potential.
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
- Blackey
- County
- Letcher
- State
- Kentucky
- Longitude
- -82.9659
- Latitude
- 37.143
