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802 Hoods Creek Pike 5,500 SF Retail Building Ashland, KY 41101 $362,133 ($65.84/SF)
Executive Summary
Premier national brand: PPG Industries, Inc. is a Fortune 500 global leader in paints, coatings and specialty materials, serving customers in more than 70 countries and reporting net sales of $15.8 billion in 2024.
PPG recently exercised their last 5 year option, extending the lease to 1/31/2031
Proven retail location: PPG Paints has been operating at this location since 1995, showing tremendous commitment to this site.
Below Market Rents: PPG is currently paying $5.50 per square foot in annual rent, compared to the market rate of $12.32 per square foot. With no remaining renewal options, this presents a potential opportunity for immediate rent upside & lease restructure at lease expiration, especially considering the Tenant has successfully operated at this location for over three decades.
The building is being offered for $362,133, significantly below replacement cost.
Inquire with broker for more details.
PPG recently exercised their last 5 year option, extending the lease to 1/31/2031
Proven retail location: PPG Paints has been operating at this location since 1995, showing tremendous commitment to this site.
Below Market Rents: PPG is currently paying $5.50 per square foot in annual rent, compared to the market rate of $12.32 per square foot. With no remaining renewal options, this presents a potential opportunity for immediate rent upside & lease restructure at lease expiration, especially considering the Tenant has successfully operated at this location for over three decades.
The building is being offered for $362,133, significantly below replacement cost.
Inquire with broker for more details.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,500 SF
Building Class
C
Year Built
1974
Price
$362,133
Price Per SF
$65.84
Tenancy
Single
Building Height
1 Story
Building FAR
0.46
Lot Size
0.27 AC
Zoning
Z02
Parking
15 Spaces (2.64 Spaces per 1,000 SF Leased)
Frontage
77’ on Hoods Creek Pike
Amenities
- Pylon Sign
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Pittsburgh Paints
- -
- -
- -
- Modified Gross
- Jan 2031
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Pittsburgh Paints | - | - | - | Modified Gross | Jan 2031 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 022-03-00-007.00 | Improvements Assessment | $286,647 |
| Land Assessment | $38,000 | Total Assessment | $324,647 |
Property Taxes
Parcel Number
022-03-00-007.00
Land Assessment
$38,000
Improvements Assessment
$286,647
Total Assessment
$324,647
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802 Hoods Creek Pike
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