1235 N Main St, Madisonville, KY 42431
Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% fee simple interest in a net leased Harbor Freight retail property located at 1235 North Main Street, Madisonville, Kentucky (the “Property”). Recently renovated in 2018, the Property comprises a +/- 24,538 SF building on a very busy +/- 3.294-acre parcel, that is strategically positioned to be visible and convenient to a combined 40,000+ vehicles per day at the signalized intersection of North Main Street and KY-281, and only one mile from Interstate 69 with highway traffic of about 24,000 vehicles per day. The Property benefits from it’s visibility, accessibility, as well as large lot in a strong commercial area along North Main Street, adjacent to retailers including Arby’s, Advance Auto Parts, CVS/Pharmacy, Captain D’s, Dollar General, Food Giant, First Care, Taco John’s, McDonald’s, and Walgreens, among others. The area is surrounded by over 10,800 households within 5 miles. The population in 2018 was 26,000 people, within 5 miles, with an average HH Income of $61,000 within 5 miles of the property and a daytime population of over 51,700 people within 5 miles. Madisonville is a city in and the county seat of Hopkins County, Kentucky, located in the state’s Western Region, the area serves as the commercial seat for the region and has experienced exponential growth throughout the past decade. The building is leased to Harbor Freight Tool USA, Inc., with over 1,000 stores nationally. The original lease was signed in 2018, subject to a 10-year triple net lease with 10% rental escalations every 5 years, including in the five, 5-year options. At the closing, the Seller will sign a 5-year master lease for the vacant space, Seller is potentially available to lease the space for the Buyer and manage the property after the close.
Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% fee simple interest in a net leased Harbor Freight retail property located at 1235 North Main Street, Madisonville, Kentucky (the “Property”). Recently renovated in 2018, the Property comprises a +/- 24,538 SF building on a very busy +/- 3.294-acre parcel, that is strategically positioned to be visible and convenient to a combined 40,000+ vehicles per day at the signalized intersection of North Main Street and KY-281, and only one mile from Interstate 69 with highway traffic of about 24,000 vehicles per day. The Property benefits from it’s visibility, accessibility, as well as large lot in a strong commercial area along North Main Street, adjacent to retailers including Arby’s, Advance Auto Parts, CVS/Pharmacy, Captain D’s, Dollar General, Food Giant, First Care, Taco John’s, McDonald’s, and Walgreens, among others. The area is surrounded by over 10,800 households within 5 miles. The population in 2018 was 26,000 people, within 5 miles, with an average HH Income of $61,000 within 5 miles of the property and a daytime population of over 51,700 people within 5 miles. Madisonville is a city in and the county seat of Hopkins County, Kentucky, located in the state’s Western Region, the area serves as the commercial seat for the region and has experienced exponential growth throughout the past decade. The building is leased to Harbor Freight Tool USA, Inc., with over 1,000 stores nationally. The original lease was signed in 2018, subject to a 10-year triple net lease with 10% rental escalations every 5 years, including in the five, 5-year options. At the closing, the Seller will sign a 5-year master lease for the vacant space, Seller is potentially available to lease the space for the Buyer and manage the property after the close.
