309 - 419 KY-321 - Retail FOR SALE


Paintsville, KY 41240
$19,230,000 USD
513-504-4046
309 - 419 KY-321, Paintsville, KY for Sale
$19,230,000 USD
Retail - FOR SALE
1/6
null | 7.75% Cap Rate

309 - 419 KY-321
Paintsville, KY 41240


HIGHLIGHTS

  • National Anchor Tenants
  • Large Trade Area
  • Diverse, Synergistic Tenant Mix
  • Long-Term Anchor Leases / Strong WALT
  • Value-Add Upside Opportunity
  • Prime Retail Corridor Location

OVERVIEW

Northmarq is pleased to exclusively offer for sale the Mayo Plaza, a ±238,554 SF retail center located in the primary retail corridor of Paintsville, Kentucky, the county seat of Johnson County. The property is anchored by a strong mix of national retailers with long-term leases, including Hobby Lobby, TJ Maxx, Ollie’s Bargain Outlet, Dollar Tree and Five Below. Mayo Plaza features a diverse and complementary tenant mix that spans food, medical, personal services, financial services, apparel, cellular and more, making the center resilient to economic and e-commerce disruption. In addition, there is a great potential for vacancy upside, which would build on recent leasing momentum. Strategically located across from Paintville's Walmart and Food City, Paintville's two dominant grocers, near the intersection of three regional arteries (US-23, US-460 and KY-40), and drawing from a large trade area that includes over 75,000 people, the center is well-positioned to benefit from strong retail demand and the limited threat of new retail development competion due to the challenging topography of the area.

FOR SALE DETAILS

PRICE

$19,230,000 USD

PRICE/SF

$81 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mayo Plaza

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Fast Food, Freestanding, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

341

LAND DETAILS

LAND ACRES

25.58 AC

LAND SF

1,114,265 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Ryan RoedersheimerNorthmarqMore Info
513-504-4046

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Ryan RoedersheimerNorthmarqMore Info
513-504-4046

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