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Food City Anchored Center (Leasehold) 15-215 Us Hwy 23 60,576 SF 100% Leased Retail Building Prestonsburg, KY 41653 $4,404,821 CAD ($72.72 CAD/SF) 11% Cap Rate



Executive Summary
• The subject property is a 69,976 SF grocery-anchored shopping center in Prestonsburg, KY
• The center is anchored by a Super Dollar, a concept by Food City (Food City guarantee with 155 locations)
• The subject property is a leasehold interest with 27 years remaining
• Priced well below replacement cost $44.30
• Average Rent: $5.85
HIGH-PERFORMING GROCERY-ANCHORED TENANT FOOD CITY-BACKED (155 LOCATIONS)
• Super Dollar has occupied the site for nearly 40 years
• Backed by Food City, a strong regional grocery operator with 155+ locations across the Southeast
• Health Ratio: 2.2%
• 2024 Sales: $6.39M
STRATEGIC INTERSTATE LOCATION
• Prestonsburg serves as a regional hub in Eastern Kentucky with strong retail fundamentals
• The center is located near major national retailers, including Walmart, Lowe’s, and more
• Convenient access to US-23 and KY-114 drives consistent visibility and accessibility
HISTORY OF STRONG PERFORMANCE
• Average tenant tenure: 15+ years
• Nine tenants have exercised options to renew since 2023
PRESTONSBURG, KY
• Prestonsburg is a charming Appalachian town nestled in the foothills of Eastern Kentucky
• Located along the Levisa Fork of the Big Sandy River, offering scenic mountain views and outdoor recreation
Property Facts
Amenities
- Banking
- Freeway Visibility
- Restaurant
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
Appalachian Wireless is Eastern Kentucky's leading provider of high quality telecommunications products and services since 1991. Headquartered in Ivel KY, Appalachian Wireless operates advanced cellular telephone and paging networks, and is dedicated to providing today's most innovative communications products and services at affordable prices to local communities across Kentucky and Western Virginia. A commitment to excellence is the standard by which the company operates. Appalachian Wireless is active in the communities it serves through involvement in the local Chambers of Commerce and civic organizations, and provides scholarships to graduating seniors to offset higher education costs.
- Peking Chinese Buffet
- Accommodation and Food Services
- 500 SF
- -
- -
Readmore Bookstore is a Kentucky book retailer associated with Prestonsburg and listed at Glynnview Plaza in local business directories. Public directory entries describe the business as a religious bookstore and a place for book sales and customer assistance with locating titles. Recent listings still connect the company to the Prestonsburg market, indicating an ongoing retail presence focused on books and related reading materials.
Truist was formed in 2019 through the merger of BB&T and SunTrust, bringing together two long-running regional banking franchises. The company serves consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending clients through a broad mix of financial services. Truist maintains a significant U.S. market presence with a large branch network and a footprint across high-growth markets, while continuing to operate as a top-tier commercial bank.
Walgreens Boots Alliance began with Walgreens, which was founded in 1901 and grew from a neighborhood drugstore into a large pharmacy and retail business. The company was formed later through the combination of Walgreens and Alliance Boots, creating a business with a broad presence in pharmacy retail and health-focused services. Its operations include retail pharmacy, healthcare services, and pharmaceutical wholesale, with digital and in-store offerings that support prescription access, consultations, immunizations, and wellness products. Walgreens Boots Alliance has remained centered on pharmacy-led care while serving customers through a mix of community locations and online channels.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
Information | - | - | - | ||
| Peking Chinese Buffet | Accommodation and Food Services | 500 SF | - | - | ||
| Readmore Book-n-card | Retailer | 1,875 SF | - | - | ||
|
Finance and Insurance | 3,500 SF | - | - | ||
|
Retailer | 13,000 SF | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 30523 | Improvements Assessment | $3,197,048 CAD |
| Land Assessment | $1,491,956 CAD | Total Assessment | $4,689,003 CAD |
Property Taxes
Presented by
Food City Anchored Center (Leasehold) | 15-215 Us Hwy 23
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