KFC (Ground Lease)

615 North Mayo Trail
Paintsville, KY 41240

Property: Investment Sales

Square Footage: +/- 3,400

Acreage: +/- 0.82

Price: $1,047,300

Cap Rate: 5.50%

Description:

  • 20 year absolute triple net ground lease that commenced in 2008 with 2 renewal options of 5 years each
  • Rent bump of approximately 10.42% in December 2018 will increase Cap Rate to 6.07%
  • 21 unit franchisee operator founded in 1999 with locations in KY, OH, WV and IN
  • 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