Family Dollar Net Lease Investment Opportunity | 6.2% Cap Rate

Highlights

• • Recently exercised 10-year NN lease extension through January of 2032 with 5 extension options
• • 2021 store expansion with interior and exterior renovations paid by tenant of $350,000
• • Large ± 1-acre parcel
• • Continuously operating at this location for over 38 years
• • Strategic location near world famous Churchill Downs and close to I-264 and I-65

• • Ideal tenant demographics in busy intown residential neighborhood with a population of over 118,514 within 3 miles
• • Immediate nearby national retailers and the University of Louisville
• • Corporate guaranteed lease with Family Dollar, a subsidiary of Dollar Tree
• • Outstanding 6.2% cap rate compared to other available on-market dollar stores
• • Broker of Record: Justin Baker, TRIO Commercial Property Group, LLC | jbaker@triocpg.com | 502-454-0911 | Kentucky License #204053

Description

This established and value priced Family Dollar in Louisville, KY has 9 years remaining on the NN lease. In 2021, the store underwent a $350,000 interior and exterior renovation. It has been operating at this location, near Churchill Downs, home of the Kentucky Derby, for over 38 years and is available at a 6.2% cap rate. Along with the renovation in 2021, the tenant expanded the footprint of the store to over ± 8,000 SF, demonstrating a strong commitment to the location. Improvements include an updated façade, new signage, interior remodeling and store expansion by ± 1,250 SF of floor space.

In conjunction with the remodel, Family Dollar executed a new 10-year NN lease which runs through January of 2032. Additionally, five 5-year renewal options remain with rent increases in each option period. Family Dollar reimburses the landlord for taxes and insurance. The landlord is responsible for roof, structure, parking lot and repairs over $300 per occurrence.

The store is strategically located in an intown neighborhood on a busy commercial thoroughfare, Taylor Boulevard, with traffic counts over 19,668 VPD. It serves a residential neighborhood within 3 miles with a population of 118,514 and an average household income of $54,634. These demographics are the ideal target for urban placement of a Family Dollar. Additionally, the retail trade area includes KFC, McDonald’s, Ace Hardware, Wendy’s, Dollar General Market, and Hardee’s. The University of Louisville is less than a mile and a half east of the property, I-264 is one mile south and I-65 is two miles east.

This rare offering provides the investor with a strong cap rate, long lease term AND has a corporate guarantee from Family Dollar, a Dollar Tree subsidiary.