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Subway | New 15-Yr Abs NNN 809 US Highway 60 E 1,472 SF Retail Building Morganfield, KY 42437 $800,000 ($543.48/SF) 6% Cap Rate
Investment Highlights
- Brand-New 15-Year Absolute NNN Lease Commencing at Close of Escrow
- Scheduled 10% Rent Increases Every 5 Years
- Adjacent to Walmart Supercenter, Tractor Supply Co., and Dollar Tree
- Zero Landlord Responsibilities With Four (4) Five-Year Renewal Options
- Backed by a High Net Worth Personal Guaranty
- Positioned Along U.S. Highway 60 (±7,523 VPD), Morganfield's Primary Commercial Corridor
Executive Summary
Marcus & Millichap is pleased to present a freestanding Subway drive-thru at 809 US 60 in Morganfield, Kentucky, available individually or as part of the nine-property Subway Kentucky Portfolio. The ±1,472-square-foot restaurant on ±0.24 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 $48,000 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. Highway 60 (±7,523 VPD), Morganfield's primary commercial corridor with direct regional connectivity to Henderson, Owensboro, and Evansville. The site sits adjacent to Walmart Supercenter, Tractor Supply Co., and Dollar Tree, supporting consistent daily traffic throughout the immediate trade area. The 10-mile trade area supports 10,667 residents with an average household income of $85,440, and the property falls within the Evansville MSA, a regional hub of approximately 273,000 residents with an average household income of $100,934. Subway operates approximately 37,000 locations globally, pairing enduring brand recognition with passive, long-term net-lease income.
The property is positioned along U.S. Highway 60 (±7,523 VPD), Morganfield's primary commercial corridor with direct regional connectivity to Henderson, Owensboro, and Evansville. The site sits adjacent to Walmart Supercenter, Tractor Supply Co., and Dollar Tree, supporting consistent daily traffic throughout the immediate trade area. The 10-mile trade area supports 10,667 residents with an average household income of $85,440, and the property falls within the Evansville MSA, a regional hub of approximately 273,000 residents with an average household income of $100,934. Subway operates approximately 37,000 locations globally, pairing enduring brand recognition with passive, long-term net-lease income.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,472 SF
Building Class
B
Year Built
1999
Price
$800,000
Price Per SF
$543.48
Cap Rate
6%
NOI
$48,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.24 AC
Opportunity Zone
Yes
Zoning
Comm
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Subway began in Bridgeport, Connecticut, as a submarine sandwich shop started by Fred DeLuca and Peter Buck in the mid-1960s, and the brand later expanded through franchising. The company now focuses on made-to-order sandwiches alongside salads, wraps, cookies, and other menu items served through a broad franchise system. Subway has grown into a globally recognized restaurant brand with a large international footprint and a long-standing emphasis on quick-service meals and customizable menu choices.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | M3-32-01 | Improvements Assessment | $215,000 |
| Land Assessment | $85,000 | Total Assessment | $300,000 |
Property Taxes
Parcel Number
M3-32-01
Land Assessment
$85,000
Improvements Assessment
$215,000
Total Assessment
$300,000
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