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2911 S Highway 27 3,509 SF Retail Building Somerset, KY 42501 $1,944,984 ($554.28/SF) 5.79% Cap Rate
Investment Highlights
- SINGLE TENANT ASPEN DENTAL LOCATION: 3,509-SF on a 0.79 acre lot with 25 parking spaces
- RENTAL INCREASES IN EACH OPTION: Rental increase coming in 2029 and 8% rental increases in each of four, 5-year renewal options.
- 4 MILES FROM LAKE CUMBERLAND: Lake Cumberland is a major boating and outdoor recreation destination in Kentucky attracting 4 million annual visitors.
- DOUBLE NET LEASE: 2014 renovations with over 8 years remaining on the original NN lease. Landlord responsible for roof, structure & HVAC replacement
- HIGH VISIBILITY LOCATION: Outparcel to shopping center with lighted pylon sign and easy access from all traffic directions. Three points of ingress an
- DENSE RETAIL HUB: Located near multiple national tenants including Hobby Lobby, TJ Maxx, Tractor Supply, Ollie’s, Planet Fitness, Dunham’s and more
Executive Summary
Dense Retail Corridor | Proximity to Lake Cumberland Area
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,509 SF
Building Class
C
Year Built/Renovated
1990/2014
Price
$1,944,984
Price Per SF
$554.28
Cap Rate
5.79%
NOI
$112,534
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.79 AC
Zoning
B-2, Highway Business - Business District
Parking
45 Spaces (10 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Health Care and Social Assistance
- 3,509 SF
- $34.92
- Double Net
- Jul 2034
Aspen Dental began in 1998 in East Syracuse, New York, after a merger that formed the brand from East Coast Dental and Upstate Dental. The company provides routine and emergency dental care, along with dentures, implants, clear aligners, financing options, and other general dental services. Aspen Dental supports a wide national network of branded dental practices through a model that combines patient care with non-clinical administrative and business support, and the company maintains a broad presence across the country.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Health Care and Social Assistance | 3,509 SF | $34.92 | Double Net | Jul 2034 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 062-1-0-52 | Improvements Assessment | $0 |
| Land Assessment | $1,535,000 | Total Assessment | $1,535,000 |
Property Taxes
Parcel Number
062-1-0-52
Land Assessment
$1,535,000
Improvements Assessment
$0
Total Assessment
$1,535,000
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