Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in 4790 Highway 2565 (the Property), a 22,236-square-foot two-tenant retail asset in Louisa, Kentucky, in which Save A Lot franchisee Houchens Industries Inc. and Advance Auto Parts have double-net leases. Save A Lot has operated at this location since the building was constructed in 1998 and has just over two years remaining on its lease. Advance Auto Parts has been at this location since 1995 and has just under two years remaining with two, five year renewal options, with a 10 percent rent increase in the second option to offset inflation. The Property sits on a generous 1.59-acre lot on Highway 2565 (State Route 3) within three blocks of a retail cluster at the signalized intersection with U.S. Highway 23, which connects to Interstate 64 and the Huntington Tri-State Airport 25 miles north. The parcel is bounded along its north and east sides by Mimosa Road, and immediately east of the road are CSX Class I freight rail tracks and the Big Sandy River, which divides Kentucky and West Virginia. For residents of the nearby rural areas as well as travelers on U.S. Highway 23 and U.S. Highway 52 (on the West Virginia side), Louisa offers a hub of attractive services, including a Walmart 2.5 miles south and the 90-bed Three Rivers Medical Center 3.5 miles southeast of the Property. Brown Foodservice operates the largest institutional food supply warehouse in the region with 250,000 square feet of space just 2.8 miles southeast of the Property and is one of the top employers in the area. For the past 34 years, Louisa has attracted country and bluegrass music fans with its annual Septemberfest celebration.