Fast Pace Urgent Care - Kentucky's Capital
Fast Pace Health I Formerly First Care I Absolute NNN I Frankfort, KY
Marketing description
Matthews Real Estate Investment Services™ presents a rare healthcare investment opportunity featuring a corporately guaranteed Fast Pace Urgent Care at 301 Versailles Rd, Frankfort, Kentucky's capital.
The clinic successfully operated as a First Care location prior to Fast Pace Health's acquisition in 2022 and was strategically retained and integrated into Fast Pace's 320+ location platform. Unlike a traditional urgent care clinic, this location provides Urgent Care, Primary Care, Behavioral Health, and Dermatology services, broadening its patient base and creating multiple avenues for recurring healthcare demand.
Supported by more than 1,200 Google reviews, the clinic has established a strong reputation within the community and demonstrated exceptional patient engagement.
From a real estate perspective, the property is positioned within Frankfort's premier retail corridor, directly across from Kroger- and Save-A-Lot-anchored shopping centers and surrounded by national retailers. The site benefits from exceptional visibility along Versailles Road, convenient access to Interstate 64, and serves over 86,408+ residents with an average household income of $101,961+ within a 10-mile radius.
Adding to the property's long-term outlook is The Paddocks of Frankfort, a $150+ million mixed-use development currently under construction and the largest development in the history of Frankfort and Franklin County. Upon completion, the project will feature Kentucky's largest Target and numerous national retailers, further strengthen the area's retail draw and economic growth.
Investment highlights
Location & Lease Highlights
- State Capital with a Stable Employment Base: As Kentucky's capital, Frankfort benefits from a diverse employment base anchored by state government, healthcare, and higher education, supporting stable economic fundamentals and long-term demand.
- Strong Demographics: More than 86,408+ residents with an average household income of $101,961+ reside within a 10-mile radius, complemented by a daytime employment population exceeding 44,600, supporting sustained demand for healthcare services.
- Strategic Location: Strategically located within Frankfort's dominant retail corridor, directly across from Kroger anchored shopping center and Save-A-Lot anchored shopping center, benefiting from consistent daily consumer traffic and strong retail synergy.
- The Paddocks of Frankfort: Located near The Paddocks of Frankfort, a $150+ million mixed-use development currently under construction and the largest development in the history of Frankfort and Franklin County located off I-64. Upon completion, the project will feature Kentucky's largest Target and numerous national retailers, further strengthen the area's retail draw and economic growth.
- Strong Visibility & Accessibility: Excellent frontage along Versailles Road with ±30,600 vehicles per day, complemented by convenient access to I-64, which carries ±46,500 vehicles daily, providing outstanding visibility and regional accessibility.
- Central Kentucky Location: Situated approximately 40 minutes from Lexington and one hour from Louisville, the property benefits from excellent regional connectivity while serving as a healthcare destination for Central Kentucky.
- National Tenants Nearby: Kroger, Save-A Lot Grocery, Walgreens, McDonald’s, Jimmy John’s, Arby’s, White Castle, AutoZone Auto Parts, O’Reilly Auto Parts, Advanced Auto Parts, Subway, Family Dollar, Dollar General, Dollar Tree, and many more.
- Certificate of Need (CON) State & Regional Healthcare Hub: Home to Frankfort Regional Medical Center and numerous specialty medical providers, Frankfort benefits from Kentucky's Certificate of Need (CON) regulatory environment, creating barriers to entry that help protect established healthcare providers and support long-term demand for outpatient medical services.
- Regional Healthcare Hub: Home to leading healthcare providers including Baptist Health and Frankfort Regional Medical Center, the market serves as a regional destination for medical care, supporting sustained demand for healthcare services.
- Established Retail & Medical Corridor: Located within Frankfort's primary commercial corridor alongside national retailers, healthcare providers, and daily-needs services that generate consistent consumer traffic and reinforce the property's long-term viability.
- Premier Recreation & Tourism Hub: Located near Frankfort's premier golf courses like Frankfort Country Club, destination distilleries and wineries like Prodigy Vineyards, and outdoor recreation, supporting sustained consumer traffic and area growth.
- Absolute NNN Lease Structure: Single-tenant NNN lease with the tenant responsible for roof, structure, parking lot, HVAC, etc.
- Corporate Guarantee: With over 300 locations, Fast Pace Health is one of the nation’s largest and fastest-growing urgent care providers. Fast Pace is owned by Revelstoke Capital Partners, a private equity company, with ±$6.2 billion in assets under management.
Tenant Highlights
- Tenant Commitment: Fast Pace Health retained and integrated this location following its 2022 acquisition of First Care Clinics, demonstrating the property's continued strategic importance within the company's operating platform.
- Expanded Care Model: Beyond traditional urgent care, this clinic provides Primary Care, Behavioral Health, and Dermatology services, expanding patient reach and reinforcing the location's long-term strategic importance.
- Essential Healthcare Provider: As a provider of essential healthcare services, the clinic offers in-person care seven days a week, providing convenient access to medical services and supporting consistent patient demand.
- Excellent Patient Accessibility: Offers both walk-ins or online appointment scheduling with a wide variety of services including EKGs, X-rays, a full testing lab, and more.
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