Hardee's (Ground Lease)

545 North Mayo Trail
Paintsville, KY 41240

Property: Investment Sales

Square Footage: 3,380

Acreage: 0.76

Price: $798,600

Cap Rate: 5.50%

Anchor Tenants: Lowe's, Food City, Ollie's Bargain Outlet, Peebles, Big Sandy Superstore, and shadow anchor Walmart

Description:

  • 25 year operating history at this location with 4 renewal options exercised to date and a full-scale remodel in 2014
  • 350-unit franchisee operator founded in 1962 with more than 10,000 employees in four states
  • Outparcel 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