268 Versailles Rd Frankfort, KY 40601-3271

Property Details for 268 Versailles Rd

Year built

2007

Construction

FRAME

Lot size

1.23 lot acres

Property type

Commercial real estate

APN

085-00-00-020.00

APU

85000002000

Description

This exceptional investment opportunity presents a 7,000 square foot Advance Auto Parts store located at 268 Versailles Road, Frankfort, KY 40601. The property sits on a 1.22-acre lot and boasts a triple-net (NNN) lease with a corporate guarantee from Advance Auto Parts, a publicly traded company (NYSE: AAP) with an investment-grade credit rating (BBB- from S&P and Baa2 from Moody's) and over $11.3 billion in annual sales (2023). The current lease has approximately 3.2 years remaining, with two 5-year renewal options, each including a 5% rent increase. The asking price is $1,763,638, representing a compelling cap rate of 8.00% and a price per square foot of $251.95. The property enjoys 100% occupancy and generates a net operating income (NOI) of $141,091. Its prime location on Versailles Road, a high-traffic area, ensures consistent customer flow. The property benefits from its proximity to other national retailers, including T.J. Maxx, Dick's Sporting Goods, Tractor Supply Co, Kroger, Kohl's, Starbucks, Planet Fitness, Wendy's, and KFC. This is a secure, recession-resistant investment in a vital sector of the economy, offering a strong return on investment with a well-established, creditworthy tenant. The lease commenced January 17, 2008, and expires January 31, 2028.