Marathon (Ground Lease)

460 North Mayo Trail
Paintsville, KY 41240

Property: Investment Sales

Square Footage: 1,845

Acreage: 0.71

Price: $545,500

Cap Rate: 5.50%

Description:

  • 31-year operating history as a fuel center and convenience store at this location
  • 5 year ground lease commenced September 2017 with three 5-year renewal options
  • 5,600 location brand with retail outlets in 20 states and the District of Columbia
  • 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