Fast Pace Health Urgent Care

200 Letton Drive, Paris, KY 40361

$3,055,000

Cap Rate 6.55%

Views: 132 DOM: 249 Updated: 11.15.24 Posted: 03.17.24 Status: Active

Summary

Price $3,055,000	Built/Renov 2023	Tenant Fast Pace Health Urgent Care
Cap Rate 6.55%	Lease Type NN+	Guarantor Corporate
Size/SF 3,726	Lease Start 11-09-2023	#Units 250
Price/SF $819.91	Expiration 03-31-2039	Tenant Type Medical/Health
NOI $200,000	R. Term 14.4	Ownership Fee Simple
Rent/SF $53.68	Increases 10.0%/4/yrs	Pop 5Mi 13,350
Lot/AC 0.93	Options 3/5yrs/10%	AHHI 5Mi $78,601

Lease Highlights

The tenant has 14+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 5% rental increases throughout the initial term and 10% at the start of each option period
Favorable NN+ lease with landlord responsible for structure only
Corporate guaranteed lease

Location Description

Fast Pace Health Urgent Care is strategically located at the hard corner intersection of Letton Dr. and Locust Dr., with access to a combined daily traffic count of 29,700 vehicles. The property is surrounded by well-known national tenants, including Walmart Supercenter, Save A Lot, Tractor Supply Co., DaVita Dialysis, McDonald’s, and Taco Bell. The 5-mile trade area is supported by a...

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Key Features

New construction
Signalized intersection
Hard corner intersection
Near major nationals
WalMart out-parcel
Major MSA
Long 10+ yr lease
Favorable NN+ lease
Corporate Guarantee
Over 100 Units backed

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Links

Fast Pace Health Urgent Care Wikipedia Paris, Kentucky Zip Code 40361 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Fast Pace Health Urgent Care
Guarantor:Corporate
Company:FP UC Holdings, Inc
# Units:250
Stock:Private

About Tenant

Fast Pace Health Urgent Care is a leading provider of outpatient healthcare services to rural communities. The company offers a wide variety of medical services in underserved communities,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,699	11,769	13,249
2023 Total Population :	5,775	11,872	13,366
2023 Employed Civilian Pop :	2,644	5,284	5,950
2023 Total Businesses :	214	525	572
2023 Average Household Income :	$ 80,951	$ 75,982	$ 78,615
2023 Total Consumer Spending :	$ 169 M	$ 327 M	$ 379 M
2023 Median Age :	40	42	42
2023 Total Households :	2,380	4,885	5,471
2023 Pop Age 25+: Bachelor's Degree :	642	1,105	1,291
2023 Average Home Value :	$ 231,877	$ 234,872	$ 253,275

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Lexington Rd	Letton Dr	2010	16,500	0.09 mi
Hume Bedford Pike	Bethlehem Rd	2022	1,746	0.20 mi
Bethlehem Road	Westridge Ln	2021	6,455	0.37 mi
Bethlehem Road	Westridge Ln	2022	6,455	0.37 mi
Hume Bedford Rd	Lynnwood Dr	2006	2,890	0.38 mi
US 27;US 68	Lexington Rd	2022	14,440	0.39 mi
West 20th Street	Main St	2022	2,288	0.42 mi
KY 1678	Wings Nolk St	2022	6,380	0.44 mi
Clintonville Rd	Kristen Ln	2007	5,768	0.56 mi
Hume Bedford Rd	Echo Dr	2007	1,352	0.59 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

180 Listings
23607 Views
62 Sold

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
21990 Views
58 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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