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Barbourville, KY - General Dynamics
207 Hospital Drive | Barbourville, KY 40906
Description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, corporate guaranteed, freestanding, General Dynamics Information Technology investment property located in Barbourville, Kentucky. The tenant has occupied the site for 25 years and has 1-year remaining on its lease with 1 (6-month) and 1 (1-year) option to extend. The lease features a 5% rental increase at the beginning of the second option period and is NNN, with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. General Dynamics Information Technology is a global technology and professional services company that provides consulting and mission services to every major agency across the U.S. government, defense, and intelligence community. It’s parent company, General Dynamics (NYSE: GD), has a market cap of $76.68 billion.
Location
The asset is located along Hospital Drive, easily accessible via US Highway 25E (26,600 VPD). The thoroughfare features multiple national/credit tenants including Walmart, Walgreens, Tractor Supply Company, McDonald’s, and Taco Bell. The subject property is positioned within a dense multi-use corridor, adjacent to the Barbourville Appalachian Regional Healthcare Hospital, Yellow Rock Apartments, and Barbourville Apartments. The site is equipped with an oversized lot of 4.75 acres, providing ample space for further development. In addition, the property is zoned general commercial, allowing for a wide-variety of potential uses. The 5-mile trade area is supported by a population of over 10,700 residents and 4,300 employees with an average household income of $55,060.