Shopping Strip

First Care Urgent Care Center & Sleep Outfitters | Eastern Kentucky | Outparcel to Walmart & Lowe's

115 Lee Ave, Pikeville (Eastern Kentucky), KY 41501

Listing Price: $3,313,333

Cap Rate
7.50%
Gross SF
8,500
Rentable SF
8,500
Price/Gross SF
$389.80
Lot Size
1.55 acres
Year Built
2018

Investment Overview

Located in Northeastern Kentucky, Pikeville is a leading business, industrial, medical and retail marketplace of the Appalachian region. It is also the financial center for the area, ranking third in banking for the entire state of Kentucky. Notable companies doing business in Pike county include: Kellogg, Coca Cola Bottling, Community Trust Bancorp Inc and EQT Corporation. Three major U.S. Highways converge at the location of this site. The city has been a center of rapid development in Eastern Kentucky since the 1990s. Pikeville College (now the University of Pikeville) opened the Kentucky College of Osteopathic Medicine in 1997.

Investment Highlights

  • 100% Occupied Two-Tenant Strip on NNN Leases Featuring 10% Rental Increases Every 5 Years throughout the Initial Term and Options. Brand New 2018 Construction with 20 Year Roof Warranty in place.
  • Positioned Along Area's Major Retail & Traffic Corridor: Features Easy Access and Excellent Visibility along U.S. Highway 23 with Daily Traffic Counts Exceeding 33k Vehicles.
  • Sleep Outfitters Parent Company Tempur Sealy International, Inc (NYSE: TPX | S&P: BB-) is the World's Largest Bedding Provider.
  • First Care Operates as a Conveniently Located Urgent Care Walk-In Facility Equipped with Multiple Exam Rooms, Lab Testing, and Digital X-Ray Capabilities.
  • Strong Retail Trade Area Bringing a Regional Draw - Surrounded by Numerous National Retailers including Walmart Supercenter, Lowe's, Tractor Supply Co, Hobby Lobby, Marshalls, Ross, Dollar General and many more.
  • In Close Proximity to University of Pikeville - One of three Medical Schools in the State of Kentucky with a Student Population of more than 2,366.
  • Pikeville is one of the most Progressive and Rapidly Developing Cities in Eastern Kentucky. It is the Region's Leader in Healthcare, Education, Banking, and Entertainment.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    License(s): KY: 242197

    Kentucky

Shopping Strip

First Care Urgent Care Center & Sleep Outfitters | Eastern Kentucky | Outparcel to Walmart & Lowe's

Listing Price: $3,313,333

Cap Rate
7.50%
Gross SF
8,500
Rentable SF
8,500
Price/Gross SF
$389.80
Lot Size
1.55 acres
Year Built
2018

Investment Highlights

  • 100% Occupied Two-Tenant Strip on NNN Leases Featuring 10% Rental Increases Every 5 Years throughout the Initial Term and Options. Brand New 2018 Construction with 20 Year Roof Warranty in place.
  • Positioned Along Area's Major Retail & Traffic Corridor: Features Easy Access and Excellent Visibility along U.S. Highway 23 with Daily Traffic Counts Exceeding 33k Vehicles.
  • Sleep Outfitters Parent Company Tempur Sealy International, Inc (NYSE: TPX | S&P: BB-) is the World's Largest Bedding Provider.
  • First Care Operates as a Conveniently Located Urgent Care Walk-In Facility Equipped with Multiple Exam Rooms, Lab Testing, and Digital X-Ray Capabilities.
  • Strong Retail Trade Area Bringing a Regional Draw - Surrounded by Numerous National Retailers including Walmart Supercenter, Lowe's, Tractor Supply Co, Hobby Lobby, Marshalls, Ross, Dollar General and many more.
  • In Close Proximity to University of Pikeville - One of three Medical Schools in the State of Kentucky with a Student Population of more than 2,366.
  • Pikeville is one of the most Progressive and Rapidly Developing Cities in Eastern Kentucky. It is the Region's Leader in Healthcare, Education, Banking, and Entertainment.

Investment Overview

Located in Northeastern Kentucky, Pikeville is a leading business, industrial, medical and retail marketplace of the Appalachian region. It is also the financial center for the area, ranking third in banking for the entire state of Kentucky. Notable companies doing business in Pike county include: Kellogg, Coca Cola Bottling, Community Trust Bancorp Inc and EQT Corporation. Three major U.S. Highways converge at the location of this site. The city has been a center of rapid development in Eastern Kentucky since the 1990s. Pikeville College (now the University of Pikeville) opened the Kentucky College of Osteopathic Medicine in 1997.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    License(s): KY: 242197

    Kentucky

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