119 NNN properties are observed for sale in Kentucky across 55 tenants and 70 cities as of October 30, 2026, at a median asking cap rate of 6.50%, 15 basis points above the national median of 6.35%. Investment Grade Research tracks each one across publicly marketed offerings and broker materials, checks rated tenants against the investment grade threshold, and publishes the observations here: which tenants and cities carry the inventory, what it is asking, how Kentucky prices against the national market, and how an acquisition or 1031 exchange buyer should work through it.
Asking cap rates in Kentucky run from 4.00% to 10.00%, with the middle half of listings between 6.00% and 7.50%. Median asking price $1.85M (median $331 per SF). Average remaining lease term 10.2 years among 50 listings that state a term. 12 listings report a 2026 build year. 56 listings were first observed and 46 dropped off active tracking in the last 90 days. Figures update automatically across publicly marketed offerings and broker materials.
Key findings, as of October 30, 2026
- 119 NNN listings are observed in Kentucky, the 24th largest inventory of the 50 states with listings.
- The median asking cap rate of 6.50% is 15 basis points above the national median. That is tied for the 22nd highest median asking cap rate among the 50 states with observed listings.
- Comparing the same tenants, Kentucky listings ask 4 basis points tighter than those tenants elsewhere (9 tenants, 59 Kentucky listings), so part of the gap above reflects location and part reflects which tenants are on the market.
- The median Kentucky listing was first observed 100 days ago (tracking began July 25, 2026, so listings marketed before then may have been on the market longer); 56 were first observed and 46 dropped off active tracking in the last 90 days.
NNN Properties For Sale in Kentucky: Latest Listings
Up to twenty-four single-tenant net lease properties in Kentucky with published pricing, the newest from each tenant first so the table reflects the whole Kentucky market rather than one or two active tenants. Below the table, the full listing browser carries every observed Kentucky listing with tenant, city, cap rate, price and term filters. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.
| Tenant | City | Asking Price | Cap Rate | NOI | Term Left | Built | Lease | |
|---|---|---|---|---|---|---|---|---|
| Subway | Owensboro | $800,000 | 6.00% | $48,000 | n/a | 2003 | Not stated | Get full property data |
| Dollar General | Water Valley | $1,248,185 | 6.50% | $81,132 | n/a | 2020 | Not stated | Get full property data |
| CVS | Erlanger | $3,695,801 | 7.48% | $276,285 | n/a | 2017 | Not stated | Get full property data |
| Arby's | Maysville | $1,388,000 | 6.85% | $95,036 | n/a | 1989 | Not stated | Get full property data |
| Wawa | Alexandria | $3,551,402 | 5.35% | $190,000 | n/a | 2026 | Not stated | Get full property data |
| Whitewater Express Car Wash | Florence | $4,920,000 | 6.10% | $300,000 | n/a | 2026 | Not stated | Get full property data |
| Whistle Express Car Wash | Louisville | $4,391,913 | 6.50% | $285,475 | n/a | 2006 | Not stated | Get full property data |
| Midas | Bowling Green | $2,154,000 | 6.50% | $140,000 | n/a | 1990 | Not stated | Get full property data |
| Ashley Homestore | Lexington | $8,480,065 | 6.50% | $551,204 | n/a | 2008 | Not stated | Get full property data |
| Dollar Tree | Greenville | $1,434,000 | 8.50% | $121,875 | n/a | 2025 | Not stated | Get full property data |
| Cheetah Clean | Glasgow | $2,919,627 | 6.25% | $182,477 | n/a | 1989 | Not stated | Get full property data |
| Waterworks Auto Wash | Bowling Green | $4,566,950 | 6.40% | $292,285 | n/a | 1990 | Not stated | Get full property data |
| Walgreens | Florence | $3,050,000 | 10.00% | $305,000 | n/a | 2005 | Not stated | Get full property data |
| First Watch | Bowling Green | $4,195,000 | 5.65% | $237,000 | n/a | 2026 | Not stated | Get full property data |
| Baptist Health Medical Group | Frankfort | $2,150,000 | 5.70% | $122,654 | n/a | 1996 | Not stated | Get full property data |
| Chick-fil-A | Owensboro | $3,368,421 | 4.75% | $160,000 | n/a | 2024 | Not stated | Get full property data |
| Long John Silver's | Hazard | $500,000 | 8.58% | $42,922 | n/a | 1973 | Not stated | Get full property data |
| Main Street Auto | Lexington | $3,222,280 | 6.75% | $217,504 | n/a | 2000 | Not stated | Get full property data |
| O'Reilly Auto Parts | Salyersville | $1,765,066 | 6.00% | $105,904 | n/a | 2021 | Not stated | Get full property data |
| Burger King | Louisa | $2,160,000 | 6.25% | $135,000 | n/a | 2025 | Not stated | Get full property data |
| Family Dollar | Long-Fork | $924,216 | 8.25% | $85,490 implies 9.25%; verify | n/a | 2013 | Not stated | Get full property data |
| Sunbelt Rentals | Louisville | $3,000,000 | 5.50% | $165,036 | n/a | 1985 | Not stated | Get full property data |
| Bojangles | Corbin | $1,592,592 | 6.75% | $107,500 | n/a | 2014 | Not stated | Get full property data |
| Applebee's | Lexington | $2,750,000 | 6.00% | $165,000 | n/a | 2004 | Not stated | Get full property data |
Showing 24 of 119 observed Kentucky listings: the newest from each tenant first, then each tenant’s next newest. Listings without a published asking price and cap rate are not shown here.
Market observations aggregated from publicly marketed offerings and broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the offering party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.
Kentucky NNN Properties by Tenant
Listing count, median asking cap rate and cap range by tenant. Tenants with a linked page have a full credit rating, cap rate and inventory profile; the rest are tracked here at the state level until they earn a page of their own.
| Tenant | Listings | Median Cap | Cap Range | Median Price | |
|---|---|---|---|---|---|
| Dollar General | 15 | 7.08% | 6.25% to 9.00% | $1.23M | Dollar General NNN for sale |
| Family Dollar | 11 | 8.75% | 8.00% to 10.00% | $1.39M | Family Dollar NNN for sale |
| Subway | 8 | 6.00% | 6.00% to 6.00% | $0.80M | |
| Walgreens | 8 | 7.03% | 6.06% to 10.00% | $3.06M | Walgreens NNN for sale |
| Advance Auto Parts | 5 | 7.50% | 7.00% to 8.50% | $0.87M | Advance Auto Parts NNN for sale |
| Wawa | 4 | 5.30% | 4.90% to 5.40% | $4.23M | Wawa NNN for sale |
| Arby's | 3 | 6.50% | 5.77% to 6.85% | $1.46M | Arby's NNN for sale |
| Burger King | 3 | 6.25% | 6.25% to 6.25% | $1.63M | Burger King NNN for sale |
| Fast Pace Urgent Care | 3 | 6.75% | 6.55% to 8.71% | $2.93M | Fast Pace Urgent Care NNN for sale |
| Pizza Hut | 3 | 6.50% | 6.50% to 6.50% | $0.52M | |
| 7-Eleven | 2 | 5.25% | 5.25% to 5.25% | $9.25M | 7-Eleven NNN for sale |
| Bank of America | 2 | 4.88% | 4.75% to 5.00% | $4.19M | Bank of America NNN for sale |
| Bojangles | 2 | 6.75% | 6.75% to 6.75% | $1.67M | |
| Cracker Barrel | 2 | 6.15% | 6.15% to 6.15% | $3.59M | |
| KFC | 2 | 6.65% | 6.65% to 6.65% | $1.84M | |
| KinderCare | 2 | 6.75% | 6.50% to 7.00% | $2.32M | |
| Main Street Auto | 2 | 6.75% | 6.75% to 6.75% | $3.17M | |
| Petco | 2 | 6.25% | 6.25% to 6.25% | $4.29M | Petco NNN for sale |
| Waterworks Auto Wash | 2 | 6.33% | 6.25% to 6.40% | $3.56M | |
| Wendy's | 2 | 5.88% | 5.75% to 6.00% | $3.26M | Wendy's NNN for sale |
| Academy Sports + Outdoors | 1 | 7.00% | 7.00% to 7.00% | $9.35M | |
| Aldi and Trader Joe's | 1 | 5.00% | 5.00% to 5.00% | $2.20M | |
| Applebee's | 1 | 6.00% | 6.00% to 6.00% | $2.75M | Applebee's NNN for sale |
| Ashley Homestore | 1 | 6.50% | 6.50% to 6.50% | $8.48M | |
| Baptist Health Medical Group | 1 | 5.70% | 5.70% to 5.70% | $2.15M | |
| Cerity Partners | 1 | 7.50% | 7.50% to 7.50% | $18.13M | |
| Cheetah Clean | 1 | 6.25% | 6.25% to 6.25% | $2.92M | |
| Chick-fil-A | 1 | 4.75% | 4.75% to 4.75% | $3.37M | Chick-fil-A NNN for sale |
| Chipotle | 1 | 5.30% | 5.30% to 5.30% | $3.12M | Chipotle NNN for sale |
| Chuy's | 1 | 5.71% | 5.71% to 5.71% | $2.44M | |
| CVS | 1 | 7.48% | 7.48% to 7.48% | $3.70M | CVS NNN for sale |
| Dollar Tree | 1 | 8.50% | 8.50% to 8.50% | $1.43M | Dollar Tree NNN for sale |
| Dutch Bros | 1 | 5.50% | 5.50% to 5.50% | $3.02M | Dutch Bros NNN for sale |
| First Watch | 1 | 5.65% | 5.65% to 5.65% | $4.20M | |
| Fresenius Medical Care | 1 | 6.10% | 6.10% to 6.10% | $4.57M | Fresenius Medical Care NNN for sale |
| Giovanni's Pizza | 1 | 6.25% | 6.25% to 6.25% | $0.60M | |
| Hopebridge Autism Therapy Centers | 1 | 9.00% | 9.00% to 9.00% | $1.50M | |
| JPMorgan Chase | 1 | n/a | n/a | $1.70M | JPMorgan Chase NNN for sale |
| La Petite Academy | 1 | 5.03% | 5.03% to 5.03% | $2.25M | |
| Long John Silver's | 1 | 8.58% | 8.58% to 8.58% | $0.50M |
Tenants with the most Kentucky listings observed (top 40 of 55). Tenants with a linked page have a full credit and inventory profile; 73 of the 119 listings belong to tenants with a profile page.
Kentucky NNN Properties by Category
- Dollar Store NNN properties for sale (27 in Kentucky across 3 tenants)
- QSR NNN properties for sale (13 in Kentucky across 8 tenants)
- Pharmacy NNN properties for sale (9 in Kentucky across 2 tenants)
- Gas Station and C-Store NNN properties for sale (6 in Kentucky across 2 tenants)
- Auto Parts and Service NNN properties for sale (6 in Kentucky across 2 tenants)
- Healthcare NNN properties for sale (4 in Kentucky across 2 tenants)
- Bank Branch NNN properties for sale (3 in Kentucky across 2 tenants)
- Casual Dining NNN properties for sale (1 in Kentucky across 1 tenant)
Counts cover all observed listings from tenants with a profile page; the category pages aggregate the same tenants nationally.
Kentucky NNN Properties by City
The cities with the most observed Kentucky listings are Louisville (18), Bowling Green (7), Owensboro (6). Tap any city in the table to filter the full listing browser to that city.
| City | Listings | Median Cap | Avg Asking Price |
|---|---|---|---|
| Louisville | 18 | 6.10% | $4.42M |
| Bowling Green | 7 | 6.40% | $2.91M |
| Owensboro | 6 | 6.00% | $1.72M |
| Henderson | 4 | 6.00% | $1.16M |
| Maysville | 4 | 6.68% | $1.05M |
| Frankfort | 3 | 6.50% | $2.60M |
| Glasgow | 3 | 6.25% | $3.24M |
| Lexington | 3 | 6.50% | $4.82M |
| Madisonville | 3 | 6.50% | $2.14M |
| Paducah | 3 | 7.00% | $4.37M |
| Corbin | 2 | 7.50% | $1.23M |
| Eubank | 2 | 7.50% | $1.50M |
| Florence | 2 | 8.05% | $3.99M |
| Jackson | 2 | 6.75% | $1.47M |
| Salyersville | 2 | 7.25% | $1.50M |
| Albany | 1 | 6.25% | $1.55M |
| Alexandria | 1 | 5.35% | $3.55M |
| Annville | 1 | 8.75% | $1.39M |
| Barbourville | 1 | 7.00% | $1.23M |
| Beattyville | 1 | 7.50% | $1.12M |
Cities with the most Kentucky listings observed (top 20 of 70). Tap a city to filter the full listing browser.
How Kentucky Prices Against the National NNN Market
The Kentucky median asking cap rate of 6.50% sits 15 bps above the national median of 6.35%. A state median reflects both location and which tenants happen to be on the market, so the state median alone is not a like-for-like price comparison. Compare any listing with its tenant’s national cap rate bands on the tenant page before reading the state spread as a discount or a premium; the investment grade guide explains how tenant credit sets the floor under those bands.
Kentucky Taxes and the 1031 Exchange Buyer
General information, not tax or legal advice. State income tax, real estate transfer tax and property tax assessment rules differ by state, and sometimes by county or city, and they affect both your exchange and what a replacement tenant could afford in rent. Confirm the rules that apply to your property with your CPA, tax attorney and qualified intermediary before you rely on them. Replacement property must be identified within 45 days after the sale of the relinquished property and received by the earlier of 180 days after that sale or the due date, including extensions, of your tax return for that year (Internal Revenue Code Section 1031(a)(3); Treasury Regulation 1.1031(k)-1(b)(2)). Ask your qualified intermediary to confirm your exact dates, and use the full listing browser above to filter Kentucky inventory by tenant and city, or each tenant page for national inventory on the same credit.
How These Figures Are Calculated
Figures cover single-tenant net lease properties observed for sale in Kentucky across publicly marketed offerings and broker materials, and refresh automatically with each Investment Grade Research update. A listing counts while it is actively marketed; listings marked under contract, pending, on hold or closed are excluded, as are listings priced under $150,000. Medians use published asking prices and cap rates (where a cap rate is not stated, it is computed from the published NOI and price), so they describe what sellers are asking, not closed sale prices. The same-tenant comparison takes each tenant’s median asking cap rate in Kentucky and compares it with that tenant’s median in other states, for tenants with at least three Kentucky listings and five listings elsewhere, weighted by Kentucky listing count. Days on market are measured from the date a listing was first observed.
Frequently Asked Questions: NNN Properties For Sale in Kentucky
How many NNN properties are for sale in Kentucky right now?
As of October 30, 2026, 119 single-tenant net lease properties are observed for sale in Kentucky across 55 tenants and 70 cities. The count updates automatically as listings are added and withdrawn.
What cap rates are Kentucky NNN properties asking?
The median asking cap rate across observed Kentucky listings is 6.50%, with the middle half of listings between 6.00% and 7.50%. That median is 15 bps above the national median of 6.35%. Cap rates vary by tenant, guarantee, remaining term and location; confirm the lease before relying on any single figure.
Which tenants have the most NNN listings in Kentucky?
The tenants with the most observed Kentucky listings right now are Dollar General (15), Family Dollar (11), Subway (8) and Walgreens (8). The tenant table above lists the top 40.
Which Kentucky cities have the most NNN properties for sale?
The cities with the most observed listings are Louisville (18), Bowling Green (7), Owensboro (6). The city table above lists the top 20 and filters the full listing browser.
Are these listings offered by Investment Grade?
No. These are market observations aggregated from publicly marketed offerings and broker materials, not offerings by Investment Grade Income Property, LP. Registering for full property data connects you with our team for buyer representation and due diligence; the listing broker remains the listing broker.
NNN Properties For Sale in Other States
- NNN properties for sale in Alabama (209 listings)
- NNN properties for sale in Arizona (158 listings)
- NNN properties for sale in Arkansas (147 listings)
- NNN properties for sale in California (446 listings)
- NNN properties for sale in Colorado (161 listings)
- NNN properties for sale in Florida (689 listings)
- NNN properties for sale in Georgia (318 listings)
- NNN properties for sale in Illinois (330 listings)
- NNN properties for sale in Indiana (195 listings)
- NNN properties for sale in Iowa (75 listings)
- NNN properties for sale in Louisiana (143 listings)
- NNN properties for sale in Maryland (55 listings)
- NNN properties for sale in Michigan (268 listings)
- NNN properties for sale in Minnesota (133 listings)
- NNN properties for sale in Mississippi (88 listings)
- NNN properties for sale in Missouri (149 listings)
- NNN properties for sale in Nevada (63 listings)
- NNN properties for sale in New Hampshire (20 listings)
- NNN properties for sale in New Jersey (75 listings)
- NNN properties for sale in New Mexico (85 listings)
- NNN properties for sale in New York (186 listings)
- NNN properties for sale in North Carolina (285 listings)
- NNN properties for sale in Ohio (338 listings)
- NNN properties for sale in Oklahoma (146 listings)
- NNN properties for sale in Pennsylvania (237 listings)
- NNN properties for sale in South Carolina (187 listings)
- NNN properties for sale in South Dakota (12 listings)
- NNN properties for sale in Tennessee (218 listings)
- NNN properties for sale in Texas (935 listings)
- NNN properties for sale in Utah (53 listings)
- NNN properties for sale in Virginia (177 listings)
- NNN properties for sale in Washington (92 listings)
- NNN properties for sale in Wisconsin (130 listings)
- NNN properties for sale in Wyoming (12 listings)
Browse NNN Properties For Sale by Tenant and Category
- All NNN properties for sale by tenant
- NNN restaurants for sale
- Dollar store NNN properties for sale
- Pharmacy NNN properties for sale
- Gas station and c-store NNN properties for sale
- Search every Kentucky listing in the full NNN search
Buying With 1031 Exchange Proceeds?
Compare this inventory with all 7,408 1031 exchange NNN properties for sale nationally, sorted by price band, tenant credit, remaining lease term and state. Then check your 1031 exchange deadlines: 45 days to identify replacement property and 180 days to close, or your tax return due date (including extensions) if that comes first (IRC 1031(a)(3); Treas. Reg. 1.1031(k)-1(b)(2)). General information, not tax or legal advice.
