28 Ky 3438 Barbourville, KY 40906
- Retail properties
- 9,100 SF
- 2.17 lot acres
Current Use by Public Records
- Retail properties
Property Details for 28 Ky 3438
- Year built
- 2019
- Lot size
- 2.17 lot acres
- Property size
- 9,100 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple ownership of a 9,100-square-foot Dollar General store, built in 2019, located at 28 N Ky 3438, Barbourville, KY 40906. The property sits on a 2.17-acre lot and boasts a strong 8.00% cap rate, generating a net operating income (NOI) of $86,090. The absolute NNN lease structure, with a credit-rated corporate guarantor, ensures minimal landlord responsibilities. The tenant, Dollar General, is fully responsible for HVAC repairs and replacements, and fully reimburses the landlord for all common area maintenance (CAM) expenses. The current lease, commenced February 15, 2019, has a remaining term of approximately 4.2 years, with five 5-year renewal options, each including a 10% rent increase. The property benefits from high traffic counts exceeding 18,000 vehicles per day and serves a healthy population exceeding 12,000 residents within a 5-mile radius. Located in southeastern Kentucky, Barbourville itself has a population of over 3,500. The asking price is $1,076,125, translating to a price per square foot of $118.26. This single-tenant, 100% occupied property represents a secure and profitable investment opportunity. The property is part of a larger portfolio, but can be purchased individually.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Barbourville
- County
- Knox
- State
- Kentucky
- Longitude
- -83.8938
- Latitude
- 36.9103
