NNN Two Tenant Retail | O’Reilly and Harbor Freight
1233 N Main St, Madisonville, KY, USA Map
Listing Price $3,232,497
| Status | Closed |
| Lease Type | NNN |
| Property Type | Retail |
| CAP Rate | 6.75% |
| GLA (Sq. Ft.) | 24,711 |
| NOI | $218,194 |
| Lease Term Remaining | 9.5 Years (O'Reilly) 5 Years (Harbor Freight) |
| Increases | Every 5 Years |
| Options | 4 x 5 Years (O'Reilly) 5 x 5 Years (Harbor Freight) |
| State (BOR) | KY |
| Broker of Record | Colby Haugness |
| License # (BOR) | 242197 |
| Close Date | Jan 5, 2024 |
Investment Highlights
- Traffic Counts on Main Street (21,031 VPD) and
Island Ford Road (19,523 VPD), Three-Quarters
a Mile off of Pennyrile Parkway (26,608 VPD)
(Source: LandVision, CoStar, 2022) - Well Established Retail Corridor | Nearby National
Retailers Include: Kroger, Lowe’s, Days Inn,
Comfort Inn, Applebee’s, McDonald’s, Dollar
General, Advance Auto Parts, CVS, Sherwin
Williams, and Others - Thriving Community with an Average Household
Income of Over $67,000 within Five Miles of
the Subject Asset, as of 2022 - Parks and Outdoor Recreational Facilities Nearby
Include: 265-Acre Mahr Park & Arboretum,
Grapevine Lake Park, Madisonville City Park and
Golf Complex, Lake Peewee, Lakeshore Country
Club, and More - Subject is 1 Mile from Downtown Madisonville
with a Population of 19,420
Investment Overview
Subject is a 24,711 Square-Foot O’Reilly Auto Parts and Harbor Freight on a 3.29-Acre Lot with Ample Parking on Arterial Highway 41 through Madisonville, Kentucky. NNN Leases with 10-Year Base Terms and Minimal Landlord Responsibility | Rental Increases Every 5 Years, 4 to 5 x 5-Year Options.
