Skip to main content

Grocery Store

Save A Lot | Four-Property Portfolio

303 Lee Clay Ave, Morehead, KY 40351

Listing Price: $765,000

Cap Rate
8.80%
Tenant Name
Save A Lot
Years Remaining On Lease
4.0
Gross SF
14,617
Guarantor
Franchisee Guarantee
Rentable SF
14,617
Price/Gross SF
$52.34
Lease Type
Double Net
Rent Per Square Feet
$4.61

Investment Overview

Marcus & Millichap is pleased to present the investment opportunity at 303 Lee Clay Avenue
(the Property), encompassing 14,617 square feet. The Property is leased to Houchens
Industries Inc., a Save A Lot franchisee, under a double-net lease with more than four years
left. Since its construction in 1998, Save A Lot has been the sole tenant.

Located on a spacious 1.80-acre lot, this retail asset aligns with Clearfield Road and is just
a short distance from West Wilkinson Boulevard, a bustling retail corridor. Adjacent to the
property is a Shell gas station, and directly opposite, you’ll find ADM Auto Sales, a used car
dealership. The Grace Fellowship of Morehead church is also nearby, less than half a mile
north on Clearfield Road.

Only a mile away is the St. Claire Regional Medical Center, a 130-bed facility on Old
Flemingsburg Road, flanked by fast-food giants like McDonald’s and Taco Bell. Within a
one-mile radius are two USPS offices, enhancing the location’s accessibility. Morehead State
University is less than two miles to the north with Delta Tau Delta, a fraternity house, within a
four-minute walking distance, adding to the area’s vibrant community.
The surrounding area within a two-mile radius boasts a plethora of national tenants, including
Walgreens, BP, NAPA Auto Parts, Buffalo Wild Wings, Wendy’s, Fazoli’s, Jimmy John’s, Sonic
Drive-In, KFC, Dairy Queen, Dollar General, Long John Silver’s, and others, highlighting the
strong commercial appeal of this location.

Investment Highlights

  • Long-Term Tenant With Double-Net Lease
  • Guaranteed by 400-Location Operator Houchens Food Group, Part of Houchens Industries Inc.
  • 31,400-Plus Vehicles Per Day Visibility From Clearfield Road and West Wilkinson Boulevard
  • St. Claire Regional Medical Center Within One Mile, Sponsored by the Sisters of Notre Dame-United States
  • Close Proximity to Morehead State University — 8,218 Students
  • Served by Mor'Trans Public Bus Route 1 — Connects to Morehead State University, St. Claire Medical Center and Maysville Community & Technical College – Rowan Campus
  • National Tenant Neighbors Include USPS, Walgreens, Shell, BP, NAPA Auto Parts, Buffalo Wild Wings, McDonald's, Wendy's, Fazoli's, Jimmy John's, Sonic Drive-In, KFC, Dairy Queen, Dollar General, Long John Silver's and Taco Bell

Exclusively Listed By

Broker of Record

  • Grant Fitzgerald

    Vice President/Regional Manager

    (502) 329-5900

    License(s) KY: 286261

    Kentucky

Grocery Store

Save A Lot | Four-Property Portfolio

Listing Price: $765,000

Cap Rate
8.80%
Tenant Name
Save A Lot
Years Remaining On Lease
4.0
Gross SF
14,617
Guarantor
Franchisee Guarantee
Rentable SF
14,617
Price/Gross SF
$52.34
Lease Type
Double Net
Rent Per Square Feet
$4.61

Investment Highlights

  • Long-Term Tenant With Double-Net Lease
  • Guaranteed by 400-Location Operator Houchens Food Group, Part of Houchens Industries Inc.
  • 31,400-Plus Vehicles Per Day Visibility From Clearfield Road and West Wilkinson Boulevard
  • St. Claire Regional Medical Center Within One Mile, Sponsored by the Sisters of Notre Dame-United States
  • Close Proximity to Morehead State University — 8,218 Students
  • Served by Mor'Trans Public Bus Route 1 — Connects to Morehead State University, St. Claire Medical Center and Maysville Community & Technical College – Rowan Campus
  • National Tenant Neighbors Include USPS, Walgreens, Shell, BP, NAPA Auto Parts, Buffalo Wild Wings, McDonald's, Wendy's, Fazoli's, Jimmy John's, Sonic Drive-In, KFC, Dairy Queen, Dollar General, Long John Silver's and Taco Bell

Investment Overview

Marcus & Millichap is pleased to present the investment opportunity at 303 Lee Clay Avenue (the Property), encompassing 14,617 square feet. The Property is leased to Houchens Industries Inc., a Save A Lot franchisee, under a double-net lease with more than four years left. Since its construction in 1998, Save A Lot has been the sole tenant. Located on a spacious 1.80-acre lot, this retail asset aligns with Clearfield Road and is just a short distance from West Wilkinson Boulevard, a bustling retail corridor. Adjacent to the property is a Shell gas station, and directly opposite, you’ll find ADM Auto Sales, a used car dealership. The Grace Fellowship of Morehead church is also nearby, less than half a mile north on Clearfield Road. Only a mile away is the St. Claire Regional Medical Center, a 130-bed facility on Old Flemingsburg Road, flanked by fast-food giants like McDonald’s and Taco Bell. Within a one-mile radius are two USPS offices, enhancing the location’s accessibility. Morehead State University is less than two miles to the north with Delta Tau Delta, a fraternity house, within a four-minute walking distance, adding to the area’s vibrant community. The surrounding area within a two-mile radius boasts a plethora of national tenants, including Walgreens, BP, NAPA Auto Parts, Buffalo Wild Wings, Wendy’s, Fazoli’s, Jimmy John’s, Sonic Drive-In, KFC, Dairy Queen, Dollar General, Long John Silver’s, and others, highlighting the strong commercial appeal of this location.

Exclusively Listed By

Broker of Record

  • Grant Fitzgerald

    Vice President/Regional Manager

    (502) 329-5900

    License(s): KY: 286261

    Kentucky

MM Texture Background
MM Textured Background Lower