5645 Main St, Clay City, KY 40312-1308
- Commercial real estate
- 1,200 SF
- 0.81 lot acres
Current Use by Public Records
- Family Dollar / Discount Store
Property Details for 5645 Main St
- Construction
- WOOD
- Lot size
- 0.81 lot acres
- Property type
- Commercial real estate
- APN
- 08P-00-00-142.15
- APU
- 08P000014215
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 26, 2010 | $650,000 | Jerald W Witten | Red River Development LLC | Deed | — |
Description
This exceptional investment opportunity presents a fee-simple ownership of a 9,180 square foot Family Dollar store located at 5645 Main St, Clay City, KY 40312. The property sits on a 1.45-acre lot and boasts a strong 9% cap rate, generating a net operating income (NOI) of $71,994. Built in 2007, this single-tenant retail building benefits from a corporate-guaranteed, net-lease agreement with approximately 2.6 years remaining on the current 20-year lease term, expiring June 29, 2027. The property enjoys 100% occupancy and a price per square foot of $87.14, with an asking price of $799,945. The store benefits from high visibility on a main thoroughfare with significant daily vehicle traffic, serving a population of over 9,000 residents within a 5-mile radius and limited local retail competition. This location offers a compelling investment opportunity due to its strong tenant, favorable lease terms, and attractive financial metrics. The property's strategic location, approximately 42 miles from Lexington, KY, further enhances its long-term potential. This is a rare chance to acquire a well-performing, net-leased retail property in a stable market.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Clay City
- County
- Powell
- State
- Kentucky
- Longitude
- -83.9398
- Latitude
- 37.8653
