1470 Chelsa Dr
Madisonville, KY 42431
Retail Property For Sale
Investment Highlights
- Sherwin-Williams is Comprised of 63% of the Center | Corporate Lease, Publicly Traded Company | S&P: BBB Rating (SHW)
- 100% Triple Net Leases | Edward Jones (Corporate) – Tenant for Over 10 Years – Early Lease Renewal to November 2024
- Only Sherwin-Williams Store in Madisonville | Original Tenant – Renovated to New Color Scheme in 2018 - Parlor 23 Salon Extended for 7 Years
- Located in Retail Corridor – Adjacent to Lowe’s, Kroger, Burger King, Advance Auto Parts, CVS Pharmacy, YMCA
- Located Less than 1 Mile from both U.S. 41 and Main St. Interchange and I-69 Interchange – High Traffic Counts
- Located 1.3 Miles from Baptist Health Madisonville (410 Bed Hospital) and 2 Miles from Madisonville Community College
Property Facts
About 1470 CHELSA DR , MADISONVILLE, KY 42431
Marcus & Millichap is proud to present the opportunity to acquire the fee simple interest in the Sherwin-Williams anchored retail center located at 1470 Chelsa Drive in Madisonville, KY. The subject retail center is comprised of 8,000 square feet and is anchored by Sherwin-Williams corporate, which has been a tenant since the property was originally built in 1987. The retail center sits on a .83 acre parcel near the corner of Chelsa Drive and Island Ford Rd, in the main retail corridor of Madisonville. The surrounding national credit tenants drive foot traffic to the property, such as Kroger Grocery, Lowe’s, Sureway Foods, Burger King, Advance Auto Parts, CVS, Walgreens, Applebee’s and more. The property is 100% occupied by three tenants, which all hold triple net leases in which they reimburse for their portion of taxes, insurance and common area maintenance. Sherwin-Williams extended its lease to November of 2022 before one, five year option with a 10% rental increase. Sherwin-Williams invested in a remodel to the latest color scheme in 2018, showing commitment to the site. Edward Jones (Corporate) has been a tenant since 2009 and recently renewed early to November of 2024. Parlor 23 is a family owned hair salon which just extended for 7 years. The center pays a low rent of $8.51 per square foot on average. Sherwin-Williams Retail Center is strategically located 0.6 miles from the I-69 which is a major north-south thoroughfare that runs from the Mexican border in Texas to the Canadian border in Port Huron, Michigan.
Property Taxes
| Parcel Number | M-31-4-2C | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $800,000 |
Property Taxes
