Lowe's (Ground Lease)

527 North Mayo Trail
Paintsville, KY 41240

Property: Investment Sales

Square Footage: +/- 109,440

Acreage: +/- 13.05

Price: $8,250,000

Cap Rate: 6.0%

Description:

  • Long term absolute triple net ground lease with a rare parent company guaranty
  • Lowe’s has been at this site for over 25 years and built two stores in that time period
  • Lowe’s (NYSE: LOW) (S&P: A-Stable) is a FORTUNE® 50 company with 2016 sales of $65B and 2,365 stores in the U.S., Canada and Mexico
  • Mayo Plaza is a dominant regional shopping center with a trade area population over 66,800
  • Other anchor tenants include 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 between a busy Walmart and 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