204 Gl Smith St Morgantown, KY 42261-8634

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.