3521 James Sanders Blvd Paducah, KY 42001

Property Details for 3521 James Sanders Blvd

Lot size

2.79 lot acres

Property type

Commercial real estate

APN

086-10-00-030

APU

861000030

Description

Exceptional investment opportunity: a 23,500 square foot American Freight Furniture storefront in Paducah, Kentucky. This fee-simple property boasts a strong, national corporate tenant with a 15.1-year lease (8.9 years remaining) commencing September 1, 2018, and expiring September 30, 2033. The lease is a Net Lease (NN+) with a corporate guarantee, ensuring consistent income. The property features a 7.75% cap rate and a current NOI of $217,180, with a significant 21% rent increase built into the first option, boosting the cap rate to 9%. The asking price is $2,802,000 ($119.23/sq ft). Built in 2018, this single-unit building sits on a 2.79-acre lot and includes a metal roof and concrete lot. The property benefits from its strategic location in Paducah, a county seat within a metropolitan area exceeding 100,000 residents, situated midway between Nashville and St. Louis. This area is a hub for logistics, shipping, manufacturing, and transportation, with easy access to I-24 and the I-69 corridor. The property enjoys shadow-anchoring by the high-performing Kentucky Oaks Mall (5.7 million annual visitors), further enhancing its visibility and appeal. American Freight, owned by Franchise Group, Inc. (a company with $4.93 billion in 2023 revenue), has a strong national presence with over 370 locations across 40 states, providing stability and confidence in this investment. This below-market rent property presents a compelling opportunity for investors seeking a secure, high-return investment with significant upside potential.