Bank Portfolio (Ground Leases)

300-601 North Mayo Trail
Paintsville, KY 41240

Property: Investment Sales

Square Footage: Varies

Acreage: Varies

Price: Contact Broker For Details

Cap Rate: Contact Broker For Details

Anchor Tenants: Lowe's Home Improvement, Food City, Ollies Bargain Outlet, Peebles, Big Sandy Superstore, Walmart Supercenter (Shadow-Anchor)

Description:

  • Absolute triple net ground leases to strong regional banking institutions
  • Average operating history of 25 years and average deposits of $36.91 million
  • Well below market rents averaging $10.77 PSF adding tremendous future upside potential
  • Outparcels to Mayo Plaza, a dominant regional shopping center with a trade area population over 66,800
  • Other anchor tenants include Lowe’s, Food City, Ollie’s Bargain Outlet, Peebles, Big Sandy Superstore and a Walmart shadow anchor
  • Daily traffic counts of 13,700 in front of the property on the market’s primary retail and restaurant corridor
  • Positioned adjacent to Johnson County High and Middle Schools with a combined 1400+ students
  • Paintsville is the county seat and a business, education, arts, recreation and leisure hub for the eastern Kentucky region