1400 Oak St Kenova, WV 25530

Property Details for 1400 Oak St

Lot size

1.80 lot acres

Property type

Retail space

APN

50-07- 9-0264.0000

APU

5007902640000

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 16,000-square-foot Harbor Freight Tools store in Kenova, West Virginia. Located at 1400 Oak St, this 1.8-acre property boasts a 15-year net lease (NN) with a corporate guarantee from Harbor Freight, commencing March 31, 2023, and expiring June 29, 2038. The lease includes five, five-year renewal options, with attractive 10% rent increases every five years, providing a strong hedge against inflation. The property's current Net Operating Income (NOI) is $276,429, yielding a 6.25% cap rate on the $4,422,865 asking price. Built in 2023, this state-of-the-art facility serves as Kenova's primary home improvement retailer, enjoying a dominant market position with over 226,900 annual visits (Placer data), significantly outperforming competitors. Its prime location offers convenient access to I-64, proximity to Marshall University and a major medical hub, and is situated within a dense residential community and school district. The minimal landlord responsibilities inherent in the net lease structure further enhance the investment's appeal. This property represents a compelling opportunity to acquire a high-performing, long-term net lease asset with significant upside potential. The property's strong tenant, favorable lease terms, and strategic location combine to create a truly exceptional investment opportunity.

Location Insight

City

Kenova

County

Wayne

State

West Virginia

Longitude

-82.5782

Latitude

38.4009

CBSA code

26580

CBSA name

HUNTINGTON-ASHLAND, WV-KY-OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments