OFFERING SUMMARY
Price: $1,600,000
Cap Rate: 15.34%
Gross Leasable Area: 23,416 SF
NOI: $249,403
OFFERING HIGHLIGHTS
- Absolute Net Lease
- Corporate Guarantee
- Great Visibility from Main Road
- Surrounded by National Retail Tenants
INVESTMENT OVERVIEW
Marcus & Millichap is pleased to offer for sale the property at 475 Armco Road in Ashland, Kentucky. This property is comprised of 23,416 quare feet of gross leasable area sitting on 2.55 acres of land with good visibility from Winchester Avenue with 26,0000 vehicles per day. The subject property is surrounded by a great retailer mix including Steak’ n Shake, Cinemax Movies, Texas Roadhouse, Applebee’s Grill & Bar, Speedway, Belk, Panera Bread, TJ Maxx, JC Penny and Walmart Supercenter. This asset offers an opportunity for an investor to acquire a stabilized investment with no management responsibilities in a fast-growing corridor of Ashland, Kentucky.
The corporate absolute-net lease runs through February 2023, and offers an incoming investor $246,403 in monthly net income while preparing to reposition the property as an owner user or to find a new tenant.
