204 Gl Smith St, Morgantown, KY 42261-8634
- Gas stations
- 2,400 SF
- 0.65 lot acres
Current Use by Public Records
- Gas stations
Property Details for 204 Gl Smith St
- Year built
- 1997
- Construction
- FRAME
- Lot size
- 0.65 lot acres
- Property type
- Gas stations
- APN
- MT1-00-13-005.00
- APU
- MT1001300500
Description
This 6,895 square foot Advance Auto Parts store in Morgantown, KY, presents a compelling net lease investment opportunity. Located at a signalized intersection with high visibility (W G L Smith St & N Tyler St), this property boasts a 15-year lease (originally commencing January 24, 2015, expiring January 26, 2030) with approximately 5.4 years remaining. The lease includes three 5-year renewal options, each with a 5% rent increase. The double-net (NN) lease minimizes landlord responsibilities, covering only roof, structure, slab, parking, and HVAC. The property sits on a 0.67-acre lot and generates a strong net operating income (NOI) of $90,136, representing a 6.68% cap rate on the $1,350,000 asking price. The property benefits from its location near other national and regional retailers and enjoys excellent access from Natcher Parkway (Interstate 165). The surrounding area has a population of 5,826 within a 5-mile radius, with an average household income of $57,571. Advance Auto Parts, a leading automotive parts provider, is the tenant, providing a strong and stable income stream. This investment offers a secure, long-term return with built-in rent growth potential. The property features two points of access with curb cuts on both streets. The building was constructed in 2015 and enjoys 100% occupancy.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Morgantown
- County
- Butler
- State
- Kentucky
- Longitude
- -86.6849
- Latitude
- 37.2264
- CBSA code
- 14540
- CBSA name
- BOWLING GREEN, KY METROPOLITAN STATISTICAL AREA
