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416-424 River Hill Dr
Ashland, KY 41101
Melody Mountain Strip Center · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Melody Mountain is a unique, high-cost development located atop a mountain, adjacent to a 1.1M sqft mall.
- Roof was replaced in Feb 2025 with a 20-year warranty and the parking lot will be repaved in the spring.
- Shogun lease expires in 2028, offering a potential rent increase and conversion opportunity.
- Fresenius and Verizon (81% of GLA, 83% of gross revenue) are original tenants, providing long-term stability.
- Top-performing Walmart Supercenter (93rd percentile nationally) and Chick-fil-A (91st percentile nationally) nearby.
EXECUTIVE SUMMARY
Multi-Tenant, Core, 16,000 SF Retail Strip Center in Ashland, KY.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
16,000 SF
Year Built
2010
Price
$4,400,000
Price Per SF
$275
Cap Rate
6.99%
NOI
$307,413
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
1.88 AC
Zoning
B-2; General Business
Parking
110 Spaces (6.88 Spaces per 1,000 SF Leased)
Frontage
101’ on River Hill Dr
PROPERTY TAXES
| Parcel Number | 030-04-00-017.01 | Improvements Assessment | $2,428,000 |
| Land Assessment | $550,000 | Total Assessment | $2,978,000 |
PROPERTY TAXES
Parcel Number
030-04-00-017.01
Land Assessment
$550,000
Improvements Assessment
$2,428,000
Total Assessment
$2,978,000
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