Net Leased Fast Pace Health Property Sold

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Fast Pace Health property located at 1873 Cumberland Falls Highway in Corbin, Kentucky for $2,429,000.

The 3,726 square foot Fast Pace building benefits from its position along Cumberland Falls Highway, which experiences 22,250 vehicles per day. The property is located in a corridor of nationally recognized retailers that includes Kroger, Walgreens, Save A Lot, McDonald’s, Starbucks, Arby’s, Taco Bell, Burger King, Wendy’s, Applebee’s, Bojangles, Shell, Speedway, and Advance Auto Parts.

There are nearly 50,000 people living within a 10-mile radius of the property. The average household income within 10 miles is $65,829. Furthermore, the property is positioned across from Baptist Health Corbin, a 273-bed hospital.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a full-service commercial real estate company based in Tennessee, and the buyer is a private investor based in North Carolina.

There are over 13 years remaining on the primary lease term with 10% rental escalations every 5 years. Construction was completed in 2022. Fast Pace operates 260+ healthcare centers across Tennessee, Kentucky, Louisiana, Mississippi, and Indiana. Each Fast Pace clinic features multiple exam rooms, on-site lab testing, and x-ray capabilities.

“Recently constructed properties with long-term leases to e-commerce resistant tenants are the most sought-after net lease product” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman of The Boulder Group, added, “This deal signifies that urgent care facilities remain desirable assets to commercial real estate investors.”

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