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Fast Pace Health 1873 Cumberland Falls Hwy

3,726 SF Retail Building Corbin, KY 40701 £2,094,748 (£562/SF) 6.35% Net Initial Yield

Investment Highlights

  • 13+ years remaining on the primary lease term
  • Positioned across from Baptist Health Corbin (273-Bed Hospital)
  • Neighboring retailers include Kroger, Save A Lot, McDonald’s, Starbucks, Burger King, Applebee’s, Bojangles, Taco Bell, and several others
  • Medical tenant – E-commerce resistant
  • Immediate proximity to Interstate 75 (44,800 VPD)
  • Nearly 50,000 people live within a 10-mile radius

Executive Summary

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Fast Pace Health property located in Corbin, Kentucky. The property was constructed in 2022 specifically for Fast Pace and features a 15-year lease that expires in February 2038. The lease is triple net with landlord responsibilities limited to structure only. Additionally, there are 10% rental escalations every five years
The 3,726 square-foot building benefits from its position along Cumberland Falls Highway (22,250 VPD) and immediate proximity to Interstate 75 which experiences over 44,800 vehicles per day. The asset also benefits from its strategic location across from Baptist Health Corbin, a 273-bed hospital that primarily serves southeastern Kentucky. Continual traffic is draw through the corridor by the hospital as well as the numerous nearby retailers such as Kroger, Save A Lot, McDonald’s, Starbucks, Burger King, Applebee’s, Bojangles, Taco Bell, and several others. There are nearly 50,000 people living within a ten-mile radius of the subject asset.
Fast Pace Urgent Care embraces the belief that residents of America’s rural communities— many of whom are uninsured, underinsured, using Medicare or Medicaid — not only need but deserve accessible and quality healthcare. The mission is to improve the health of the communities we serve by offering a wide variety of medical services in underserved communities, including urgent care, primary care, orthopedic services, behavioral health, dermatology, and telehealth. Each Fast Pace Health clinic features multiple exam rooms, on-site lab testing, and x-ray capabilities. Fast Pace began in 2009 with one clinic in Collinwood, TN, and has since grown to a network of 250+ healthcare centers in Tennessee, Kentucky, Louisiana, Mississippi, and Indiana.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Building Size
3,726 SF
Building Class
B
Year Built
2022
Price
£2,094,748
Price Per SF
£562
Net Initial Yield
6.35%
NOI
£133,017
Tenancy
Single
Number of Floors
1
Building FAR
0.02
Land Acres
4.65 AC

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
120-00-00-123.00B1
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£1,710,436
  • Listing ID: 32593264

  • Date on Market: 26/07/2024

  • Last Updated:

  • Address: 1873 Cumberland Falls Hwy, Corbin, KY 40701

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