200 Letton Dr Paris, KY 40361
- Retail properties
- 3,726 SF
- 0.93 lot acres
Current Use by Public Records
- Fast Pace Health Urgent Care - Paris, KY / Urgent Care Center / Medical Clinic
Property Details for 200 Letton Dr
- Lot size
- 0.93 lot acres
- Property size
- 3,726 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 3,726 square foot, single-tenant retail building fully occupied by Fast Pace Health Urgent Care. Located in Paris, Kentucky, at 200 Letton Dr, this property sits on a 0.93-acre lot (APN: 026-00-00-021.09) and boasts a prominent location on a signalized intersection with high traffic volume exceeding 29,700 vehicles per day. The property benefits from a strong tenant in Fast Pace Health, a rapidly expanding urgent care provider with over 250 clinics across six states. The current Net Lease (NNN) agreement features a 14.4-year remaining term (commencing November 9, 2023, and expiring March 31, 2039), with three 5-year option periods and 10% rent increases every five years. The lease provides minimal landlord responsibilities, ensuring a low-maintenance investment. The property's Net Operating Income (NOI) is $200,000, resulting in a 6.55% capitalization rate. The asking price is $3,055,000, translating to $819.91 per square foot. Nearby retailers include Walmart Supercenter, Save A Lot, Tractor Supply Co., DaVita Dialysis, McDonald's, and Taco Bell, further enhancing the property's desirability and potential for long-term value appreciation. This is a rare opportunity to acquire a stable, high-performing investment with significant upside potential in a growing market.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Paris
- County
- Bourbon
- State
- Kentucky
- Longitude
- -84.275
- Latitude
- 38.1951
