King's Daughters

354 North Mayo Trail, Paintsville, KY 41240

$7,200,000

Cap Rate 6.25%

Views: 96 Updated: 11.28.23 Posted: 10.05.23 Status: Inactive

Summary

Price $7,200,000	Built/Renov 1992/2023	Tenant King's Daughters
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 30,000	Lease Start 12-25-2022	#Units 60
Price/SF $240.00	Expiration 12-31-2032	Tenant Type Medical/Health
NOI $450,000	R. Term 8.1	Ownership Fee Simple
Rent/SF $15.00	Increases 10.0%/5/yrs	Pop 5Mi 13,717
Lot/AC 9.65	Options 2/5yrs/10%	AHHI 5Mi $68,414

Lease Highlights

Newly renovated and brand-new roof installed in 2022
Tenant has 9+ years of remaining on their primary lease term with 2 (5-year) options to extend
Lease features 10% rental increases every 5 years
Absolute NNN lease | Zero landlord responsibilities
The lease is corporately signed by Ashland Hospital Corp. with over 60 locations throughout Kentucky, Ohio, and West Virginia

Location Description

King's Daughters benefits from excellent visibility on North Mayo Trail, with a daily traffic count of 12,828 vehicles. It is conveniently located across from the upcoming Mayo Plaza Redevelopment, which will feature retailers such as Hobby Lobby, T.J. Maxx, Five Below, Dollar Tree, Ollie’s Bargain Outlet, and Shoe Show. This redevelopment project will significantly enhance the regional...

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Key Features

Recent renovation
New roof
Near major nationals
Strategically located
Highway location
Strong tenant synergy
New development zone
Brand new lease
Absolute NNN
Corporate Guarantee

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Links

King's Daughters Health Wikipedia Paintsville, Kentucky Zip Code 41240 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: King's Daughters Medical Center
Guarantor:Corporate
Company:UK Healthcare
# Units:60
Stock:Private

About Tenant

King's Daughters (KD), also known as UK King’s Daughters, is a non-profit health system providing a wide range of medical services. KD started in Ashland, KY in 1899 as a single hospital...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	1,484	7,641	13,900
2023 Total Population :	1,510	7,765	14,041
2023 Employed Civilian Pop :	562	2,516	4,633
2023 Total Businesses :	268	530	636
2023 Average Household Income :	$ 55,749	$ 68,434	$ 68,044
2023 Total Consumer Spending :	$ 32 M	$ 200 M	$ 355 M
2023 Median Age :	47	45	44
2023 Total Households :	649	3,246	5,764
2023 Pop Age 25+: Bachelor's Degree :	57	512	943
2023 Average Home Value :	$ 191,997	$ 220,916	$ 202,155

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North Mayo Trail	Central High School Dr	2021	12,825	0.18 mi
3rd St	W H Dixon Blvd	2014	6,014	0.27 mi
Church Street	Mill St	2022	536	0.35 mi
James S Trimble Boulevard	Hwy 23	2021	3,585	0.38 mi
West St	3rd St	2015	6,123	0.43 mi
US Hwy 23	James S Trimble Blvd	2014	13,187	0.53 mi
KY 40		2021	5,152	0.54 mi
Third St	Ct St	2001	6,369	0.60 mi
US Hwy 23 Bus	Tays Branch Rd	2002	6,185	0.63 mi
College Street	2nd St	2022	3,699	0.71 mi

Listing Broker

William Wamble

SRS National Net Lease Group

Contact

186 Listings
20935 Views
49 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
27359 Views
93 Sold

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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