3007 Highway 144 - Retail FOR SALE


Owensboro, KY 42303
$700,000 USD
408-510-9057
3007 Highway 144, Owensboro, KY for Sale
$700,000 USD
Retail - FOR SALE
1/3
null | 6% Cap Rate

3007 Highway 144
Owensboro, KY 42303


HIGHLIGHTS

  • Brand-New 15-Year Absolute NNN Lease Commencing at Close of Escrow
  • Zero Landlord Responsibilities With Four (4) Five-Year Renewal Options
  • Scheduled 10% Rent Increases Every 5 Years
  • Backed by a High Net Worth Personal Guaranty
  • Positioned Along US Route 60 Near E 4th St / KY 144 (±15,873 VPD)
  • Corridor Neighbors Include Kroger, Rural King, Dollar Tree, and Dairy Queen

OVERVIEW

Marcus & Millichap is pleased to present a freestanding Subway drive-thru at 3007 East Highway 60 in Owensboro, Kentucky, available individually or as part of the nine-property Subway Kentucky Portfolio. The ±2,212-square-foot restaurant on ±0.55 acres will be operated under a brand-new 15-year absolute NNN lease commencing at close of escrow with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $42,000 delivers a 6.00% cap rate with scheduled 10% increases every five years. The lease is backed by a high net worth personal guaranty. The property is positioned along U.S. Route 60 near East 4th Street / KY 144 (±15,873 VPD), an active east-side commercial corridor with corridor neighbors including Kroger, Rural King, Dollar Tree, and Dairy Queen. The 5-mile trade area supports 68,143 residents with an average household income of $89,300, and the site benefits from proximity to Owensboro Health Regional Hospital, Kentucky Wesleyan College (864 students), Brescia University (700 students), and Owensboro Community and Technical College (4,875 students). Owensboro anchors a metro population of approximately 114,000 with a stable economic base driven by healthcare, manufacturing, and financial services. Subway operates approximately 37,000 locations globally, pairing enduring brand strength with passive, long-term net-lease income.

FOR SALE DETAILS

PRICE

$700,000 USD

PRICE/SF

$316 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Subway | New 15-Yr Abs NNN | Owensboro, KY

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2012

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

23,958 SF

ZONING

-

APN/PARCEL ID

061-00-00-014-00-000

ASK ABOUT THIS PROPERTY

Tyler BindiMarcus & MillichapMore Info
408-510-9057

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Tyler BindiMarcus & MillichapMore Info
408-510-9057

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.