7001 Us-421McKee, KY 40447

For Sale
$1,584,845

High-yield NNN lease investment. Strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fee-simple ownership of a 12,480-square-foot Dollar General Market located at 7001 US-421, McKee, KY 40447. The property, built in 2023, sits on a 1.16-acre lot and boasts a 100% occupancy rate. The current lease is an absolute NNN, providing significant investor protection, with a remaining term of approximately 13.8 years (expiring September 22, 2038). The lease commenced September 28, 2023, and includes five, 5-year renewal options with a 10% rent increase. The tenant, Dollar General Market, is credit-rated and backed by a corporate guarantee, ensuring consistent income. The property generates a substantial net operating income (NOI) of $110,939, resulting in a compelling 7.00% cap rate. The asking price is $1,584,845, translating to a price per square foot of $126.99 and a price per unit of $1,584,845. This is a larger prototype store, offering a wider selection of goods than a standard Dollar General. This property represents a secure, high-yield investment with a strong tenant and long-term lease.

Highlights

  • New Dollar General Market store, a new development.
  • 14+ years remaining on a 15-year absolute NNN lease.
  • Expanded product selection including fresh produce and groceries.
  • Larger 12,480 square foot building.
  • Part of a 28-unit Kentucky Dollar General portfolio.

Property Details for 7001 Us-421

Property type
Other specialty properties, Other retail properties
Square Feet
12,480 SF
Year Built
2023
Buildings
1
Lot Size (sq. ft)
50,530 SF
Units
1

Location Insight

City
McKee
County
Jackson
State
Kentucky
Latitude
37.4843748
Longitude
-84.086681
7001 Us-421, McKee, Kentucky

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7001 Us-421
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